Analysts Set Lumen Technologies, Inc. (NYSE:LUMN) PT at $5.29

Lumen Technologies, Inc. (NYSE:LUMN) has earned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $5.2917.

LUMN has been the topic of several research reports. Raymond James Financial increased their price target on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. BNP Paribas upgraded shares of Lumen Technologies to a “hold” rating in a report on Wednesday, June 25th. Finally, Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd.

Insider Activity at Lumen Technologies

In related news, CFO Christopher Stansbury acquired 40,000 shares of the stock in a transaction on Friday, August 15th. The shares were acquired at an average price of $4.44 per share, for a total transaction of $177,600.00. Following the transaction, the chief financial officer owned 535,000 shares in the company, valued at approximately $2,375,400. This trade represents a 8.08% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kathleen E. Johnson acquired 135,870 shares of the stock in a transaction on Tuesday, August 5th. The stock was bought at an average price of $3.69 per share, for a total transaction of $501,360.30. Following the transaction, the chief executive officer owned 9,616,947 shares in the company, valued at approximately $35,486,534.43. This represents a 1.43% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 217,870 shares of company stock worth $859,140. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Lumen Technologies

Several hedge funds have recently bought and sold shares of the stock. Northern Trust Corp boosted its position in Lumen Technologies by 8.6% in the 4th quarter. Northern Trust Corp now owns 12,354,499 shares of the technology company’s stock worth $65,602,000 after purchasing an additional 982,206 shares in the last quarter. Front Street Capital Management Inc. lifted its position in shares of Lumen Technologies by 1.1% during the 2nd quarter. Front Street Capital Management Inc. now owns 11,969,084 shares of the technology company’s stock valued at $52,425,000 after buying an additional 132,131 shares in the last quarter. Man Group plc lifted its position in shares of Lumen Technologies by 3.3% during the 2nd quarter. Man Group plc now owns 11,486,835 shares of the technology company’s stock valued at $50,312,000 after buying an additional 364,436 shares in the last quarter. Norges Bank purchased a new position in shares of Lumen Technologies during the 2nd quarter valued at approximately $47,923,000. Finally, Invesco Ltd. lifted its position in shares of Lumen Technologies by 6.3% during the 2nd quarter. Invesco Ltd. now owns 10,928,906 shares of the technology company’s stock valued at $47,869,000 after buying an additional 652,124 shares in the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Lumen Technologies Price Performance

Shares of NYSE:LUMN opened at $4.5950 on Friday. Lumen Technologies has a twelve month low of $3.01 and a twelve month high of $10.33. The company’s 50 day moving average is $4.30 and its 200 day moving average is $4.22. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 59.98. The company has a market cap of $4.72 billion, a PE ratio of -3.89 and a beta of 1.43.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings results on Thursday, July 31st. The technology company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.21. Lumen Technologies had a negative net margin of 9.19% and a negative return on equity of 158.40%. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter in the prior year, the company earned ($0.13) EPS. Lumen Technologies’s quarterly revenue was down 5.4% on a year-over-year basis. On average, sell-side analysts forecast that Lumen Technologies will post -0.87 EPS for the current year.

Lumen Technologies Company Profile

Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets. It offers dark fiber, edge cloud services, internet protocol, managed security, software-defined wide area networks, secure access service edge, unified communications and collaboration, and optical wavelengths services; ethernet and VPN data networks services; and legacy services to manage cash flow, including time division multiplexing voice, private line, and other legacy services, as well as sells communication equipment, and IT solutions.