Lumen Technologies (NYSE:LUMN) Stock Rating Upgraded by Wall Street Zen

Lumen Technologies (NYSE:LUMN) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Sunday.

Several other analysts have also weighed in on the company. UBS Group increased their price target on Lumen Technologies from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Royal Bank Of Canada boosted their price objective on shares of Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lumen Technologies in a research note on Thursday, January 22nd. The Goldman Sachs Group lifted their price target on shares of Lumen Technologies from $5.50 to $7.25 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Lumen Technologies in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.25.

Lumen Technologies Trading Up 0.1%

LUMN opened at $6.63 on Friday. The stock has a 50-day moving average of $7.89 and a 200 day moving average of $7.56. Lumen Technologies has a 12 month low of $3.01 and a 12 month high of $11.95. The firm has a market cap of $6.79 billion, a P/E ratio of -3.81 and a beta of 1.56.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.44. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.04 billion. Lumen Technologies had a negative return on equity of 158.40% and a negative net margin of 14.02%.The company’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 earnings per share. On average, research analysts forecast that Lumen Technologies will post -0.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Lumen Technologies

In other news, Director Diankha Linear sold 45,000 shares of Lumen Technologies stock in a transaction on Friday, February 20th. The stock was sold at an average price of $7.89, for a total transaction of $355,050.00. Following the completion of the sale, the director directly owned 198,229 shares in the company, valued at approximately $1,564,026.81. This trade represents a 18.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 price of $6.35 per share, for a total transaction of $499,649.75. Following the completion of the acquisition, the chief executive officer owned 8,562,582 shares of the company’s stock, valued at approximately $54,372,395.70. The trade was a 0.93% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lumen Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of LUMN. Credit Capital Investments LLC increased its holdings in shares of Lumen Technologies by 150.0% in the second quarter. Credit Capital Investments LLC now owns 150,000 shares of the technology company’s stock valued at $657,000 after purchasing an additional 90,000 shares during the period. Prudential Financial Inc. lifted its holdings in shares of Lumen Technologies by 10.5% during the second quarter. Prudential Financial Inc. now owns 1,099,473 shares of the technology company’s stock worth $4,816,000 after purchasing an additional 104,362 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Lumen Technologies by 1.2% during the third quarter. Vanguard Group Inc. now owns 113,552,549 shares of the technology company’s stock worth $694,942,000 after purchasing an additional 1,295,177 shares during the period. Allianz Asset Management GmbH increased its holdings in Lumen Technologies by 5.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 10,056,824 shares of the technology company’s stock worth $61,548,000 after buying an additional 536,324 shares during the period. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in Lumen Technologies during the 3rd quarter worth approximately $18,439,000. 66.19% of the stock is owned by institutional investors.

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.