Analysts Set Lumen Technologies, Inc. (NYSE:LUMN) Target Price at $7.25

Lumen Technologies, Inc. (NYSE:LUMN) has received an average rating of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $7.25.

Several equities research analysts have recently commented on LUMN shares. Raymond James Financial reiterated a “market perform” rating on shares of Lumen Technologies in a research note on Wednesday, February 4th. Wall Street Zen downgraded Lumen Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. UBS Group lifted their price target on Lumen Technologies from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Citigroup dropped their price target on Lumen Technologies from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, February 5th. Finally, Royal Bank Of Canada increased their price objective on Lumen Technologies from $4.25 to $8.00 and gave the company a “sector perform” rating in a report on Tuesday, November 25th.

Lumen Technologies Stock Performance

Shares of LUMN stock opened at $6.63 on Thursday. Lumen Technologies has a fifty-two week low of $3.01 and a fifty-two week high of $11.95. The firm has a market capitalization of $6.79 billion, a price-to-earnings ratio of -3.81 and a beta of 1.56. The stock’s 50-day simple moving average is $7.91 and its 200-day simple moving average is $7.53.

Lumen Technologies (NYSE:LUMN) last announced its quarterly earnings data on Tuesday, February 3rd. The technology company reported $0.23 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.44. The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.04 billion. Lumen Technologies had a negative net margin of 14.02% and a negative return on equity of 158.40%. Lumen Technologies’s revenue was down 8.7% on a year-over-year basis. During the same period last year, the firm posted $0.09 EPS. As a group, equities analysts forecast that Lumen Technologies will post -0.87 earnings per share for the current year.

Insider Activity at Lumen Technologies

In other news, Director Diankha Linear sold 45,000 shares of the stock in a transaction on Friday, February 20th. The shares were sold at an average price of $7.89, for a total value of $355,050.00. Following the sale, the director owned 198,229 shares in the company, valued at $1,564,026.81. This represents a 18.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kathleen E. Johnson bought 78,685 shares of Lumen Technologies stock in a transaction that occurred on Thursday, February 5th. The shares were acquired at an average cost of $6.35 per share, with a total value of $499,649.75. Following the acquisition, the chief executive officer owned 8,562,582 shares of the company’s stock, valued at $54,372,395.70. The trade was a 0.93% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 2.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lumen Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Lumen Technologies by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 602,705 shares of the technology company’s stock valued at $2,363,000 after buying an additional 26,305 shares during the period. Empowered Funds LLC grew its holdings in Lumen Technologies by 26.8% during the first quarter. Empowered Funds LLC now owns 272,031 shares of the technology company’s stock worth $1,066,000 after acquiring an additional 57,522 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Lumen Technologies by 11.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,985,216 shares of the technology company’s stock valued at $11,702,000 after acquiring an additional 300,328 shares in the last quarter. Y Intercept Hong Kong Ltd raised its position in Lumen Technologies by 99.8% during the second quarter. Y Intercept Hong Kong Ltd now owns 25,000 shares of the technology company’s stock valued at $110,000 after acquiring an additional 12,488 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in Lumen Technologies by 4.9% in the second quarter. Teacher Retirement System of Texas now owns 147,843 shares of the technology company’s stock valued at $648,000 after acquiring an additional 6,883 shares during the period. 66.19% of the stock is owned by institutional investors and hedge funds.

About Lumen Technologies

Lumen Technologies is a multinational technology company specializing in integrated network, edge cloud, security and collaboration services for enterprise and public sector clients. The company’s core offerings include high-capacity fiber and IP-based connectivity, managed edge computing solutions designed to accelerate applications and data processing closer to end users, and cybersecurity services ranging from DDoS protection to unified threat management. Through its unified portfolio, Lumen enables organizations to support digital transformation initiatives, modernize infrastructure and enhance operational resilience.

Leveraging one of the largest fiber footprints in North America, as well as infrastructure in Latin America and parts of Europe, Lumen connects customers across more than 60 countries.