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

Lumen Technologies, Inc. (NYSE:LUMN) has earned an average recommendation of “Reduce” from the nine ratings firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $4.59.

LUMN has been the topic of a number of research analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $4.25 price target on shares of Lumen Technologies in a report on Monday, February 10th. Wells Fargo & Company upgraded Lumen Technologies from an “underweight” rating to an “equal weight” rating and set a $5.00 target price on the stock in a report on Friday, February 21st. Finally, Citigroup upgraded Lumen Technologies from a “neutral” rating to a “buy” rating and cut their target price for the stock from $8.00 to $6.50 in a report on Wednesday, February 26th.

Lumen Technologies Price Performance

Lumen Technologies stock opened at $4.94 on Thursday. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of -98.68 and a beta of 1.28. Lumen Technologies has a 52-week low of $0.97 and a 52-week high of $10.33. The stock’s 50 day moving average price is $5.01 and its two-hundred day moving average price is $6.08. The company has a debt-to-equity ratio of 37.70, a quick ratio of 1.20 and a current ratio of 1.21.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.14. Lumen Technologies had a negative return on equity of 46.17% and a negative net margin of 0.42%. On average, equities analysts predict that Lumen Technologies will post -0.87 earnings per share for the current year.

Institutional Investors Weigh In On Lumen Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC raised its position in Lumen Technologies by 3.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 76,905 shares of the technology company’s stock valued at $408,000 after buying an additional 2,220 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in Lumen Technologies by 7.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 34,225 shares of the technology company’s stock valued at $182,000 after buying an additional 2,457 shares during the last quarter. Los Angeles Capital Management LLC raised its position in Lumen Technologies by 20.3% in the 4th quarter. Los Angeles Capital Management LLC now owns 14,760 shares of the technology company’s stock valued at $78,000 after buying an additional 2,489 shares during the last quarter. Avior Wealth Management LLC raised its position in Lumen Technologies by 6.8% in the 4th quarter. Avior Wealth Management LLC now owns 41,845 shares of the technology company’s stock valued at $222,000 after buying an additional 2,657 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its position in Lumen Technologies by 15.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 20,852 shares of the technology company’s stock valued at $111,000 after buying an additional 2,844 shares during the last quarter. 66.19% of the stock is owned by hedge funds and other institutional investors.

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.