Analysts Set Lumen Technologies, Inc. (NYSE:LUMN) PT at $4.59

Shares of Lumen Technologies, Inc. (NYSE:LUMN) have earned an average recommendation of “Reduce” from the nine brokerages that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $4.59.

Several research analysts recently issued reports on the company. Citigroup raised Lumen Technologies from a “neutral” rating to a “buy” rating and reduced their target price for the company from $8.00 to $6.50 in a research report on Wednesday, February 26th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $4.25 target price on shares of Lumen Technologies in a research note on Monday, February 10th. Finally, Wells Fargo & Company upgraded shares of Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 price target on the stock in a research note on Friday, February 21st.

Institutional Trading of Lumen Technologies

Large investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in Lumen Technologies by 1.7% in the third quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company’s stock valued at $165,776,000 after purchasing an additional 383,693 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Lumen Technologies by 8.6% in the fourth quarter. Northern Trust Corp now owns 12,354,499 shares of the technology company’s stock worth $65,602,000 after buying an additional 982,206 shares during the last quarter. Norges Bank acquired a new stake in Lumen Technologies during the fourth quarter worth about $63,638,000. Renaissance Technologies LLC lifted its holdings in Lumen Technologies by 76.3% in the fourth quarter. Renaissance Technologies LLC now owns 11,664,009 shares of the technology company’s stock valued at $61,936,000 after acquiring an additional 5,049,709 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Lumen Technologies by 368.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,812,495 shares of the technology company’s stock worth $52,111,000 after purchasing an additional 7,717,596 shares in the last quarter. 66.19% of the stock is owned by hedge funds and other institutional investors.

Lumen Technologies Stock Performance

Shares of NYSE:LUMN opened at $4.17 on Thursday. Lumen Technologies has a 52 week low of $0.97 and a 52 week high of $10.33. The firm has a 50 day moving average of $4.95 and a 200 day moving average of $6.06. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of -83.28 and a beta of 1.28. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 37.70.

Lumen Technologies (NYSE:LUMN) last announced its earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. On average, sell-side analysts predict that Lumen Technologies will post -0.87 earnings per share 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.