Lumen Technologies, Inc. (NYSE:LUMN) Receives $5.39 Average Price Target from Analysts

Shares of Lumen Technologies, Inc. (NYSE:LUMN) have received a consensus recommendation of “Hold” from the eight brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $5.3917.

Several research firms have issued reports on LUMN. BNP Paribas upgraded shares of Lumen Technologies to a “hold” rating in a research report on Wednesday, June 25th. Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. Raymond James Financial upped their price target on shares of Lumen Technologies from $4.50 to $5.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Lumen Technologies in a research report on Wednesday. Finally, The Goldman Sachs Group upped their price target on shares of Lumen Technologies from $4.10 to $4.60 and gave the company a “neutral” rating in a research report on Friday, October 3rd.

Insider Transactions at Lumen Technologies

In other Lumen Technologies news, CEO Kathleen E. Johnson bought 135,870 shares of the firm’s stock in a transaction on Tuesday, August 5th. The stock was acquired at an average price of $3.69 per share, with a total value of $501,360.30. Following the completion of the purchase, the chief executive officer owned 9,616,947 shares of the company’s stock, valued at approximately $35,486,534.43. This trade represents a 1.43% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Christopher Stansbury purchased 42,000 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were purchased at an average price of $4.29 per share, for a total transaction of $180,180.00. Following the acquisition, the chief financial officer owned 518,000 shares of the company’s stock, valued at approximately $2,222,220. The trade was a 8.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 217,870 shares of company stock valued at $859,140. 2.30% of the stock is owned by insiders.

Institutional Trading of Lumen Technologies

A number of large investors have recently made changes to their positions in LUMN. Front Street Capital Management Inc. boosted its stake 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 worth $52,425,000 after purchasing an additional 132,131 shares during the period. Man Group plc boosted its stake 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 worth $50,312,000 after purchasing an additional 364,436 shares during the period. Norges Bank purchased a new position in shares of Lumen Technologies during the 2nd quarter worth about $47,923,000. Invesco Ltd. boosted its stake 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 worth $47,869,000 after purchasing an additional 652,124 shares during the period. Finally, Allianz Asset Management GmbH boosted its stake in shares of Lumen Technologies by 8.5% during the 2nd quarter. Allianz Asset Management GmbH now owns 9,520,500 shares of the technology company’s stock worth $41,700,000 after purchasing an additional 748,185 shares during the period. 66.19% of the stock is currently owned by institutional investors.

Lumen Technologies Price Performance

LUMN stock opened at $6.59 on Monday. The company has a market capitalization of $6.76 billion, a P/E ratio of -5.58 and a beta of 1.45. The company has a debt-to-equity ratio of 59.98, a quick ratio of 2.13 and a current ratio of 2.13. Lumen Technologies has a 52-week low of $3.01 and a 52-week high of $10.33. The business has a 50-day simple moving average of $5.27 and a two-hundred day simple moving average of $4.45.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings data on Friday, January 27th. The technology company reported $0.49 EPS for the quarter. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 9.19%.The business had revenue of $4.05 billion for the quarter. Research analysts expect that Lumen Technologies will post -0.87 EPS for the current fiscal year.

About Lumen Technologies

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.