Lumen Technologies, Inc. (NYSE:LUMN – Get Free Report)’s stock price reached a new 52-week low on Friday . The stock traded as low as $1.40 and last traded at $1.41, with a volume of 1190140 shares changing hands. The stock had previously closed at $1.42.
Analyst Upgrades and Downgrades
LUMN has been the topic of several analyst reports. The Goldman Sachs Group dropped their price target on shares of Lumen Technologies from $3.50 to $3.00 and set a “neutral” rating on the stock in a research report on Thursday, August 3rd. Royal Bank of Canada reduced their price target on Lumen Technologies from $2.75 to $2.25 and set a “sector perform” rating for the company in a report on Thursday, August 17th. Raymond James upgraded Lumen Technologies from an “underperform” rating to a “market perform” rating in a research note on Tuesday, June 6th. They noted that the move was a valuation call. Finally, Morgan Stanley reduced their target price on Lumen Technologies from $2.50 to $1.80 and set an “underweight” rating for the company in a research note on Tuesday, September 5th. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $4.51.
Read Our Latest Stock Report on Lumen Technologies
Lumen Technologies Price Performance
Lumen Technologies (NYSE:LUMN – Get Free Report) last posted its earnings results on Tuesday, August 1st. The technology company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. Lumen Technologies had a positive return on equity of 8.44% and a negative net margin of 68.74%. The company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter last year, the firm earned $0.35 earnings per share. The company’s revenue was down 20.6% on a year-over-year basis. On average, sell-side analysts predict that Lumen Technologies, Inc. will post 0.28 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. Arizona State Retirement System lifted its position in Lumen Technologies by 3.3% during the fourth quarter. Arizona State Retirement System now owns 263,755 shares of the technology company’s stock worth $1,377,000 after purchasing an additional 8,476 shares during the period. Royal London Asset Management Ltd. boosted its position in shares of Lumen Technologies by 9.4% during the 4th quarter. Royal London Asset Management Ltd. now owns 419,131 shares of the technology company’s stock worth $2,190,000 after acquiring an additional 35,927 shares in the last quarter. Pinebridge Investments L.P. increased its stake in Lumen Technologies by 6.3% in the fourth quarter. Pinebridge Investments L.P. now owns 509,401 shares of the technology company’s stock valued at $2,659,000 after acquiring an additional 30,109 shares during the last quarter. Impax Asset Management Group plc raised its position in Lumen Technologies by 41.4% during the first quarter. Impax Asset Management Group plc now owns 210,786 shares of the technology company’s stock valued at $559,000 after purchasing an additional 61,693 shares in the last quarter. Finally, Independent Advisor Alliance bought a new stake in Lumen Technologies during the first quarter worth $30,000. 69.72% of the stock is owned by institutional investors.
About Lumen Technologies
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.
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