Lumen Technologies (NYSE:LUMN) Price Target Cut to $6.00 by Analysts at TD Cowen

Lumen Technologies (NYSE:LUMN) had its price objective cut by TD Cowen from $7.00 to $6.00 in a report released on Wednesday, Benzinga reports. They currently have a hold rating on the technology company’s stock.

Several other equities analysts have also recently weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Lumen Technologies from $4.50 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday. UBS Group boosted their price objective on shares of Lumen Technologies from $1.50 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Citigroup upgraded shares of Lumen Technologies from a “sell” rating to a “neutral” rating and raised their target price for the company from $1.25 to $3.15 in a research note on Tuesday, August 6th. Moffett Nathanson boosted their price target on Lumen Technologies from $1.00 to $3.00 and gave the stock a “sell” rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. raised Lumen Technologies from an “underweight” rating to a “neutral” rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, Lumen Technologies has an average rating of “Hold” and a consensus price target of $4.02.

Lumen Technologies Stock Down 1.8 %

LUMN stock traded down $0.16 during midday trading on Wednesday, hitting $8.86. The company’s stock had a trading volume of 4,743,271 shares, compared to its average volume of 19,899,355. The company’s fifty day moving average price is $6.39 and its 200 day moving average price is $3.64. The company has a debt-to-equity ratio of 39.51, a current ratio of 1.01 and a quick ratio of 1.01. Lumen Technologies has a twelve month low of $0.97 and a twelve month high of $9.20. The stock has a market capitalization of $9.01 billion, a P/E ratio of -4.29 and a beta of 1.21.

Lumen Technologies (NYSE:LUMN) last released its earnings results on Tuesday, November 5th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.04). The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.21 billion. Lumen Technologies had a negative return on equity of 18.52% and a negative net margin of 15.06%. The business’s revenue was down 11.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.09) EPS. As a group, equities research analysts predict that Lumen Technologies will post -0.59 EPS for the current year.

Insider Transactions at Lumen Technologies

In other Lumen Technologies news, Director James Fowler purchased 10,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $4.70 per share, with a total value of $47,000.00. Following the completion of the transaction, the director now owns 384,056 shares in the company, valued at $1,805,063.20. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.68% of the company’s stock.

Institutional Investors Weigh In On Lumen Technologies

A number of large investors have recently added to or reduced their stakes in the stock. Concord Wealth Partners increased its holdings in Lumen Technologies by 98.8% in the 3rd quarter. Concord Wealth Partners now owns 4,008 shares of the technology company’s stock valued at $28,000 after buying an additional 1,992 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Lumen Technologies during the 3rd quarter worth approximately $46,000. GAMMA Investing LLC increased its stake in Lumen Technologies by 1,901.8% in the third quarter. GAMMA Investing LLC now owns 6,846 shares of the technology company’s stock valued at $49,000 after acquiring an additional 6,504 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in Lumen Technologies during the third quarter valued at approximately $59,000. Finally, Stableford Capital II LLC bought a new stake in Lumen Technologies during the third quarter worth $71,000. Institutional investors and hedge funds 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.