Lumen Technologies’ (LUMN) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Lumen Technologies (NYSE:LUMN)‘s stock had its “sector perform” rating reaffirmed by Royal Bank of Canada in a report issued on Monday,Benzinga reports. They currently have a $4.25 price objective on the technology company’s stock. Royal Bank of Canada’s target price points to a potential downside of 11.55% from the company’s previous close.

LUMN has been the subject of several other research reports. TD Cowen lowered their target price on shares of Lumen Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Citigroup raised their price objective on Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a research note on Friday, November 29th. Finally, The Goldman Sachs Group raised their price target on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $4.66.

Lumen Technologies Stock Performance

LUMN opened at $4.81 on Monday. The stock’s 50 day simple moving average is $5.63 and its 200 day simple moving average is $6.12. The stock has a market cap of $4.88 billion, a P/E ratio of -96.08 and a beta of 1.28. Lumen Technologies has a 1-year low of $0.97 and a 1-year high of $10.33. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20.

Lumen Technologies (NYSE:LUMN) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates 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%. As a group, equities analysts anticipate that Lumen Technologies will post -0.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Lumen Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP bought a new position in shares of Lumen Technologies in the second quarter valued at about $54,000. The Manufacturers Life Insurance Company lifted its holdings in Lumen Technologies by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 509,861 shares of the technology company’s stock worth $561,000 after purchasing an additional 9,922 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Lumen Technologies in the second quarter valued at about $25,000. GAMMA Investing LLC increased its stake in Lumen Technologies by 1,901.8% during the 3rd quarter. GAMMA Investing LLC now owns 6,846 shares of the technology company’s stock worth $49,000 after acquiring an additional 6,504 shares during the period. Finally, CWM LLC raised its stake in Lumen Technologies by 49.6% in the third quarter. CWM LLC now owns 15,692 shares of the technology company’s stock valued at $111,000 after purchasing an additional 5,202 shares in the last quarter. Institutional investors own 66.19% of the company’s stock.

Lumen Technologies Company Profile

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.