The stock of Lumen Technologies Inc. (NYSE:LUMN) last traded at $2.51, down -4.92% from the previous session.
Data from the available sources indicates that Lumen Technologies Inc. (NYSE:LUMN) is covered by 14 analysts. The consensus rating among analysts is ‘Underweight’. As we calculate the median target price by taking the range between a high of $5.00 and a low of $2.00, we find $3.25. Given the previous closing price of $2.64, this indicates a potential upside of 23.11 percent. LUMN stock price is now 2.79% away from the 50-day moving average and -55.82% away from the 200-day moving average. The market capitalization of the company currently stands at $2.50B.
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In total, 5 analysts have assigned it a hold rating, and 2 have given it a buy rating. Brokers who have rated the stock have averaged $3.34 as their price target over the next twelve months.
With the price target reduced from $6.25 to $3.50, Citigroup Downgraded its rating from Neutral to Sell for Lumen Technologies Inc. (NYSE: LUMN)., while ‘Wells Fargo’ rates the stock as ‘Equal Weight’.
In other news, CLONTZ STEVEN T, Director bought 5,000 shares of the company’s stock on Nov 29. The stock was bought for $26,700 at an average price of $5.34. Upon completion of the transaction, the Director now directly owns 340,029 shares in the company, valued at $0.85 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 11, Director CLONTZ STEVEN T bought 5,000 shares of the business’s stock. A total of $31,550 was incurred on buying the stock at an average price of $6.31. This leaves the insider owning 335,029 shares of the company worth $0.84 million. Insiders disposed of 3,638,300 shares of company stock worth roughly $9.13 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in LUMN stock. A new stake in Lumen Technologies Inc. shares was purchased by TWO SIGMA INVESTMENTS, LP during the first quarter worth $24,258,000. QUBE RESEARCH & TECHNOLOGIES LTD invested $16,789,000 in shares of LUMN during the first quarter. In the first quarter, TUDOR INVESTMENT CORP ET AL acquired a new stake in Lumen Technologies Inc. valued at approximately $5,743,000. WALLEYE CAPITAL LLC acquired a new stake in LUMN for approximately $4,843,000. BALYASNY ASSET MANAGEMENT L.P. purchased a new stake in LUMN valued at around $3,943,000 in the second quarter. In total, there are 999 active investors with 80.90% ownership of the company’s stock.
With an opening price of $2.6100 on Thursday morning, Lumen Technologies Inc. (NYSE: LUMN) set off the trading day. During the past 12 months, Lumen Technologies Inc. has had a low of $2.06 and a high of $12.54. As of last week, the company has a debt-to-equity ratio of 1.81, a current ratio of 1.10, and a quick ratio of 1.10. The fifty day moving average price for LUMN is $2.4316 and a two-hundred day moving average price translates $5.6403 for the stock.
The latest earnings results from Lumen Technologies Inc. (NYSE: LUMN) was released for Mar, 2023. According to the Telecom Services Company, earnings per share came in at $0.1, beating analysts’ expectations of $0.06 by 0.04. This compares to $0.59 EPS in the same period last year. The net profit margin was -9.90% and return on equity was -14.20% for LUMN. The company reported revenue of $3.74 billion for the quarter, compared to $4.68 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -20.06 percent. For the current quarter, analysts expect LUMN to generate $3.69B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/09/2022. Investors who held shares on 08/30/2022 were paid a $0.25 dividend.
Lumen Technologies Inc.(LUMN) Company Profile
Lumen Technologies, Inc., a facilities-based technology and communications company, provides various integrated products and services under the Lumen, Quantum Fiber, and CenturyLink brands to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets. It offers compute and application services, such as edge cloud services, IT solutions, unified communication and collaboration solutions, colocation and data center services, content delivery services, and managed security services; and IP and data services, including VPN data network, Ethernet, internet protocol (IP), and voice over internet protocol. The company also provides fiber infrastructure services comprising high bandwidth optical wavelength networks; and unlit optical fiber and related professional services. In addition, it offers voice and other services, including private line services, a direct circuit or channel specifically dedicated for connecting two or more organizational sites; a portfolio of traditional time division multiplexing voice services; and synchronous optical network-based ethernet, legacy data hosting services, and conferencing services. The company was formerly known as CenturyLink, Inc. and changed its name to Lumen Technologies, Inc. in September 2020. The company was incorporated in 1968 and is headquartered in Monroe, Louisiana.
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