Lumen Technologies (NYSE:LUMN – Get Free Report) had its price objective lowered by TD Cowen from $9.00 to $8.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the technology company’s stock. TD Cowen‘s price objective points to a potential upside of 100.50% from the company’s previous close.
Several other brokerages have also issued reports on LUMN. Wall Street Zen raised Lumen Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Moffett Nathanson raised shares of Lumen Technologies from a “sell” rating to a “neutral” rating and set a $4.00 price target on the stock in a report on Friday, October 30th. Citigroup decreased their price objective on shares of Lumen Technologies from $10.00 to $8.25 and set a “neutral” rating for the company in a report on Tuesday, August 11th. The Goldman Sachs Group lowered their price objective on shares of Lumen Technologies from $7.25 to $5.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lumen Technologies in a research note on Friday, July 17th. Ten analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $6.19.
Get Our Latest Stock Report on LUMN
Lumen Technologies Trading Up 0.3%
Shares of LUMN stock traded up $0.01 during trading on Thursday, hitting $3.99. The company’s stock had a trading volume of 18,133,250 shares, compared to its average volume of 13,753,093. The company has a market cap of $4.11 billion, a PE ratio of -3.91 and a beta of 1.94. The business has a fifty day moving average of $5.58 and a 200-day moving average of $7.15. Lumen Technologies has a 52 week low of $3.84 and a 52 week high of $11.39.
Lumen Technologies (NYSE:LUMN – Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The technology company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.09. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.73 billion. As a group, research analysts predict that Lumen Technologies will post -0.54 EPS for the current year.
Institutional Investors Weigh In On Lumen Technologies
Large investors have recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System boosted its position in Lumen Technologies by 53.3% during the third quarter. Maryland State Retirement & Pension System now owns 211,356 shares of the technology company’s stock worth $1,184,000 after purchasing an additional 73,491 shares during the period. New York Life Investment Management LLC purchased a new position in shares of Lumen Technologies in the third quarter worth about $785,000. Penn Capital Management Company LLC raised its position in shares of Lumen Technologies by 6.8% in the third quarter. Penn Capital Management Company LLC now owns 2,719,257 shares of the technology company’s stock valued at $15,257,000 after purchasing an additional 172,254 shares during the period. Fulcrum Asset Management LLP raised its position in shares of Lumen Technologies by 266.8% in the third quarter. Fulcrum Asset Management LLP now owns 151,727 shares of the technology company’s stock valued at $841,000 after purchasing an additional 110,367 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Lumen Technologies by 9.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 35,097 shares of the technology company’s stock valued at $196,000 after buying an additional 3,009 shares in the last quarter. Hedge funds and other institutional investors own 66.19% of the company’s stock.
Trending Headlines about Lumen Technologies
Here are the key news stories impacting Lumen Technologies this week:
- Positive Sentiment: Strategic revenue rose about 10% and reached 55% of total revenue, reflecting demand tied to AI and Lumen’s Network-as-a-Service business. Management also reaffirmed full-year adjusted EBITDA guidance. Earnings call highlights
- Positive Sentiment: Q3 adjusted loss of $0.14 per share was smaller than analysts expected, providing a bottom-line beat despite softer sales. Why Lumen sank
- Neutral Sentiment: Citigroup lowered its price target to $5.50 from $8.25 and JPMorgan cut its target to $6 from $7; both maintained neutral ratings. Their targets remain above LUMN’s recent $3.99 price, but the reductions signal more cautious expectations. Citigroup ratings JPMorgan ratings
- Negative Sentiment: Revenue fell and came in below consensus, while free cash flow turned negative. These trends highlight ongoing pressure in Lumen’s legacy business and help explain the stock’s weakness following results.
- Negative Sentiment: Other firms also reduced targets: Goldman Sachs and Wells Fargo to $5, TD Cowen to $8, and all retained neutral, equal-weight or hold ratings. The broad repricing may reinforce investor caution even though the revised targets imply upside from the recent share price.
About Lumen Technologies
Lumen Technologies, Inc is a communications and technology company that provides network, connectivity, cloud, cybersecurity and managed services primarily to businesses, government organizations and wholesale customers. Its offerings include fiber-based internet and data transport, software-defined networking, network security, unified communications, voice services, edge computing and related information technology solutions.
The company operates one of the largest enterprise fiber networks in the United States and also serves customers internationally through its global network and wholesale operations.
Featured Articles
- Five stocks we like better than Lumen Technologies
- Dutch Bros Gave Wall Street What It Wanted, So Why Did the Stock Crater?
- Astera Labs Just Crushed Earnings—So Why Are Analysts Cutting Price Targets?
- Sandisk Shares Are Oversold: Bargain or Value Trap?
- IonQ’s Record Revenue Includes a Big SkyWater Boost: Does That Change the Story?
Receive News & Ratings for Lumen Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lumen Technologies and related companies with MarketBeat.com's FREE daily email newsletter.
