Lumen Technologies, Inc. (NYSE:LUMN) Receives $7.25 Consensus Price Target from Brokerages

Lumen Technologies, Inc. (NYSE:LUMN) has earned a consensus rating of “Hold” from the eight analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $7.25.

A number of analysts have recently issued reports on LUMN shares. Zacks Research raised shares of Lumen Technologies from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 8th. UBS Group boosted their price objective on shares of Lumen Technologies from $5.00 to $6.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Citigroup cut their target price on shares of Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. The Goldman Sachs Group lifted their target price on shares of Lumen Technologies from $5.50 to $7.25 and gave the company a “neutral” rating in a research note on Wednesday, February 4th. Finally, Wall Street Zen upgraded shares of Lumen Technologies from a “sell” rating to a “hold” rating in a report on Sunday, March 8th.

Lumen Technologies Stock Up 2.1%

LUMN opened at $7.10 on Monday. Lumen Technologies has a 12-month low of $3.01 and a 12-month high of $11.95. The firm has a market capitalization of $7.31 billion, a P/E ratio of -4.08 and a beta of 1.52. The stock has a fifty day moving average of $7.43 and a 200-day moving average of $7.73.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.44. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the prior year, the company posted $0.09 earnings per share. The firm’s revenue was down 8.7% on a year-over-year basis. On average, analysts expect that Lumen Technologies will post -0.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Kathleen E. Johnson purchased 78,685 shares of the business’s stock in a transaction dated Thursday, February 5th. The stock was bought at an average cost of $6.35 per share, with a total value of $499,649.75. Following the purchase, the chief executive officer directly owned 8,562,582 shares of the company’s stock, valued at approximately $54,372,395.70. This trade represents a 0.93% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Diankha Linear sold 45,000 shares of Lumen Technologies stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $7.89, for a total value of $355,050.00. Following the sale, the director owned 198,229 shares of the company’s stock, valued at approximately $1,564,026.81. This represents a 18.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lumen Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UMB Bank n.a. grew its position in Lumen Technologies by 49.1% in the third quarter. UMB Bank n.a. now owns 4,105 shares of the technology company’s stock worth $25,000 after acquiring an additional 1,351 shares in the last quarter. Kemnay Advisory Services Inc. bought a new position in shares of Lumen Technologies during the 4th quarter valued at $25,000. MRP Capital Investments LLC lifted its stake in shares of Lumen Technologies by 160.0% in the 2nd quarter. MRP Capital Investments LLC now owns 6,500 shares of the technology company’s stock valued at $28,000 after purchasing an additional 4,000 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Lumen Technologies in the 4th quarter valued at $30,000. Finally, Fifth Third Bancorp boosted its holdings in Lumen Technologies by 24.5% in the third quarter. Fifth Third Bancorp now owns 5,343 shares of the technology company’s stock worth $33,000 after purchasing an additional 1,051 shares in the last quarter. 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.