Lumen Technologies (NYSE:LUMN) Price Target Raised to $5.00

Lumen Technologies (NYSE:LUMN) had its price objective lifted by The Goldman Sachs Group from $4.50 to $5.00 in a report published on Wednesday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the technology company’s stock.

Several other equities analysts have also recently issued reports on LUMN. TD Cowen upped their target price on Lumen Technologies from $2.50 to $7.00 and gave the company a “hold” rating in a report on Wednesday, August 7th. Moffett Nathanson upped their price objective on shares of Lumen Technologies from $1.00 to $3.00 and gave the company a “sell” rating in a research note on Wednesday, August 7th. Wells Fargo & Company lowered shares of Lumen Technologies from an “equal weight” rating to an “underweight” rating and boosted their price target for the company from $1.75 to $4.00 in a report on Friday, August 16th. JPMorgan Chase & Co. raised shares of Lumen Technologies from an “underweight” rating to a “neutral” rating in a research note on Wednesday, August 7th. Finally, UBS Group boosted their target price on shares of Lumen Technologies from $1.50 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, Lumen Technologies presently has an average rating of “Hold” and a consensus target price of $4.02.

Lumen Technologies Stock Performance

Shares of LUMN stock opened at $9.59 on Wednesday. The company has a market cap of $9.75 billion, a P/E ratio of -4.56 and a beta of 1.21. Lumen Technologies has a 52 week low of $0.97 and a 52 week high of $9.84. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 39.51. The business has a 50 day moving average of $6.56 and a two-hundred day moving average of $3.73.

Lumen Technologies (NYSE:LUMN) last issued its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.04). Lumen Technologies had a negative return on equity of 18.52% and a negative net margin of 15.06%. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.21 billion. During the same period last year, the company earned ($0.09) earnings per share. The business’s quarterly revenue was down 11.5% compared to the same quarter last year. As a group, analysts anticipate that Lumen Technologies will post -0.59 EPS for the current year.

Insider Buying and Selling at Lumen Technologies

In related news, Director James Fowler acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $4.70 per share, for a total transaction of $47,000.00. Following the transaction, the director now directly owns 384,056 shares of the company’s stock, valued at approximately $1,805,063.20. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.68% of the company’s stock.

Hedge Funds Weigh In On Lumen Technologies

Several institutional investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC raised its holdings in Lumen Technologies by 28.7% during the 1st quarter. Commonwealth Equity Services LLC now owns 531,792 shares of the technology company’s stock worth $830,000 after buying an additional 118,572 shares during the period. Fidelis Capital Partners LLC boosted its stake in Lumen Technologies by 94.6% in the 1st quarter. Fidelis Capital Partners LLC now owns 22,142 shares of the technology company’s stock worth $35,000 after purchasing an additional 10,764 shares during the period. Texas Permanent School Fund Corp increased its holdings in Lumen Technologies by 1.5% during the 1st quarter. Texas Permanent School Fund Corp now owns 880,306 shares of the technology company’s stock worth $1,373,000 after purchasing an additional 12,993 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Lumen Technologies in the 1st quarter valued at about $45,000. Finally, Headlands Technologies LLC bought a new stake in shares of Lumen Technologies in the first quarter valued at about $239,000. 66.19% of the stock is currently owned by institutional investors and hedge funds.

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.