Lumen Technologies, Inc. (NYSE:LUMN) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of Lumen Technologies, Inc. (NYSE:LUMN) have received an average recommendation of “Reduce” from the ten brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and nine have issued a hold rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $7.9062.

A number of research analysts have issued reports on the company. Wall Street Zen upgraded Lumen Technologies from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a report on Tuesday, April 21st. UBS Group increased their price target on shares of Lumen Technologies from $6.00 to $8.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Wells Fargo & Company raised their price objective on shares of Lumen Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Finally, TD Cowen lifted their price objective on shares of Lumen Technologies from $8.00 to $9.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th.

Lumen Technologies Stock Down 1.3%

Lumen Technologies stock opened at $6.37 on Wednesday. Lumen Technologies has a 52 week low of $3.37 and a 52 week high of $11.95. The company’s 50 day moving average price is $8.57 and its two-hundred day moving average price is $8.03. The stock has a market cap of $6.56 billion, a P/E ratio of -3.66 and a beta of 1.75.

Lumen Technologies (NYSE:LUMN) last released its earnings results on Tuesday, May 5th. The technology company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.34). The firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.83 billion. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.13) earnings per share. On average, equities analysts anticipate that Lumen Technologies will post -0.39 EPS for the current year.

Hedge Funds Weigh In On Lumen Technologies

Institutional investors have recently bought and sold shares of the company. Vaughan Nelson Investment Management L.P. lifted its position in shares of Lumen Technologies by 58.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 4,768,300 shares of the technology company’s stock valued at $37,050,000 after buying an additional 1,755,368 shares during the last quarter. Private Advisory Group LLC purchased a new stake in Lumen Technologies in the 4th quarter worth about $1,200,000. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in Lumen Technologies by 210.6% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 562,520 shares of the technology company’s stock valued at $4,372,000 after acquiring an additional 381,391 shares during the period. CapWealth Advisors LLC lifted its holdings in Lumen Technologies by 3.2% during the fourth quarter. CapWealth Advisors LLC now owns 6,699,685 shares of the technology company’s stock valued at $52,057,000 after purchasing an additional 204,970 shares during the last quarter. Finally, October Effect Ltd bought a new position in Lumen Technologies during the fourth quarter worth about $1,476,000. Hedge funds and other institutional investors own 66.19% of the company’s stock.

Lumen Technologies Company Profile

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.