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

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

A number of equities research analysts recently commented on the stock. Raymond James Financial reiterated a “market perform” rating on shares of Lumen Technologies in a report on Wednesday, February 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lumen Technologies in a report on Tuesday, April 21st. Zacks Research upgraded shares of Lumen Technologies from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 8th. Citigroup lowered their price target on shares of Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, February 5th. Finally, Wall Street Zen lowered shares of Lumen Technologies from a “hold” rating to a “sell” rating in a report on Saturday.

Lumen Technologies Stock Performance

Shares of LUMN opened at $8.85 on Friday. The firm has a market cap of $9.11 billion, a price-to-earnings ratio of -5.08 and a beta of 1.52. Lumen Technologies has a fifty-two week low of $3.25 and a fifty-two week high of $11.95. The firm has a 50 day moving average price of $7.33 and a 200-day moving average price of $7.96.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.44. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.04 billion. The company’s revenue was down 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.09 earnings per share. As a group, equities research analysts predict that Lumen Technologies will post -0.09 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LUMN. Vanguard Group Inc. lifted its holdings in Lumen Technologies by 1.2% in the third quarter. Vanguard Group Inc. now owns 113,552,549 shares of the technology company’s stock worth $694,942,000 after buying an additional 1,295,177 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in Lumen Technologies by 58.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 4,768,300 shares of the technology company’s stock worth $37,050,000 after buying an additional 1,755,368 shares during the period. Allianz Asset Management GmbH lifted its holdings in Lumen Technologies by 5.6% in the third 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. Private Advisory Group LLC purchased a new stake in shares of Lumen Technologies in the 4th quarter worth about $1,200,000. Finally, Public Sector Pension Investment Board grew its position in shares of Lumen Technologies by 5.3% in the 3rd quarter. Public Sector Pension Investment Board now owns 3,682,348 shares of the technology company’s stock worth $22,536,000 after buying an additional 184,883 shares during the period. 66.19% of the stock is currently owned by institutional investors.

About Lumen Technologies

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.