Zacks Investment Research Upgrades Lumos Networks Corp. (LMOS) to Hold
Zacks Investment Research upgraded shares of Lumos Networks Corp. (NASDAQ:LMOS) from a sell rating to a hold rating in a research report sent to investors on Thursday.
According to Zacks, “Lumos Networks Corp. operates as fiber-based network service provider primarily in the Mid-Atlantic region. It operates in two segments: Competitive and Rural Local Exchange Carrier. The Competitive segment offers transport services, data and voice services and Internet access, and carrier transport services. The Rural Local Exchange Carrier segment provides wireline communications services. The Company serves a wide range of customers, including telecommunication carriers, enterprise and other business customers and residential customers over a dense fiber network offering data, voice, and IP-based services. Lumos Networks Corp. is headquartered in Waynesboro, Virginia. “
Separately, BidaskClub downgraded shares of Lumos Networks Corp. from a hold rating to a sell rating in a report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Lumos Networks Corp. has a consensus rating of Hold and a consensus price target of $19.25.
Lumos Networks Corp. (NASDAQ LMOS) opened at 17.91 on Thursday. The firm’s market cap is $428.84 million. Lumos Networks Corp. has a 12 month low of $10.88 and a 12 month high of $17.99. The firm’s 50-day moving average is $17.88 and its 200-day moving average is $17.38.
Lumos Networks Corp. (NASDAQ:LMOS) last issued its quarterly earnings results on Monday, May 8th. The utilities provider reported ($0.24) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.38. Lumos Networks Corp. had a negative net margin of 1.39% and a negative return on equity of 2.29%. The business had revenue of $54.92 million during the quarter, compared to analyst estimates of $53.06 million. Equities analysts expect that Lumos Networks Corp. will post ($0.23) earnings per share for the current year.
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A number of hedge funds have recently bought and sold shares of LMOS. Municipal Employees Retirement System of Michigan raised its stake in Lumos Networks Corp. by 6.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 5,660 shares of the utilities provider’s stock worth $101,000 after buying an additional 330 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Lumos Networks Corp. by 5.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 12,680 shares of the utilities provider’s stock worth $198,000 after buying an additional 700 shares in the last quarter. Arizona State Retirement System raised its stake in Lumos Networks Corp. by 0.8% in the first quarter. Arizona State Retirement System now owns 12,280 shares of the utilities provider’s stock worth $217,000 after buying an additional 100 shares in the last quarter. Thrivent Financial For Lutherans raised its stake in Lumos Networks Corp. by 4.8% in the first quarter. Thrivent Financial For Lutherans now owns 13,290 shares of the utilities provider’s stock worth $235,000 after buying an additional 610 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new stake in Lumos Networks Corp. during the first quarter worth approximately $251,000. 85.75% of the stock is owned by institutional investors.
About Lumos Networks Corp.
Lumos Networks Corp. is a fiber-based bandwidth infrastructure and service provider in the Mid-Atlantic region with a network of long-haul fiber, metro Ethernet and Ethernet rings located primarily in Virginia and West Virginia, and portions of Maryland, Pennsylvania, Ohio and Kentucky. The Company serves carrier, business and residential customers over its fiber network offering data, voice and Internet protocol (IP) services.
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