Lumen Technologies (NYSE:LUMN) Rating Increased to Equal Weight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Lumen Technologies (NYSE:LUMN) from an underweight rating to an equal weight rating in a report released on Friday, MarketBeat.com reports. Wells Fargo & Company currently has $5.00 price target on the technology company’s stock.

Several other research analysts also recently commented on LUMN. Citigroup lifted their price objective on Lumen Technologies from $6.50 to $8.00 and gave the stock a “neutral” rating in a report on Friday, November 29th. TD Cowen decreased their price target on Lumen Technologies from $7.00 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Royal Bank of Canada reissued a “sector perform” rating and set a $4.25 price objective on shares of Lumen Technologies in a research note on Monday, February 10th. Finally, The Goldman Sachs Group lifted their target price on shares of Lumen Technologies from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $4.78.

Lumen Technologies Stock Down 0.3 %

Shares of NYSE LUMN opened at $4.68 on Friday. The stock has a market capitalization of $4.74 billion, a P/E ratio of -93.48 and a beta of 1.28. Lumen Technologies has a one year low of $0.97 and a one year high of $10.33. The firm’s 50 day simple moving average is $5.34 and its two-hundred day simple moving average is $6.18. The company has a debt-to-equity ratio of 37.70, a current ratio of 1.21 and a quick ratio of 1.20.

Lumen Technologies (NYSE:LUMN) last released its earnings results on Tuesday, February 4th. The technology company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.14. Lumen Technologies had a negative net margin of 0.42% and a negative return on equity of 46.17%. As a group, analysts expect that Lumen Technologies will post -0.87 EPS for the current fiscal year.

Institutional Trading of Lumen Technologies

Large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in shares of Lumen Technologies by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 23,344,313 shares of the technology company’s stock worth $165,776,000 after purchasing an additional 383,693 shares during the period. Northern Trust Corp raised its stake in Lumen Technologies by 8.6% in the fourth quarter. Northern Trust Corp now owns 12,354,499 shares of the technology company’s stock worth $65,602,000 after buying an additional 982,206 shares in the last quarter. Norges Bank purchased a new stake in Lumen Technologies in the fourth quarter worth about $63,638,000. Renaissance Technologies LLC boosted its position in Lumen Technologies by 76.3% during the 4th quarter. Renaissance Technologies LLC now owns 11,664,009 shares of the technology company’s stock valued at $61,936,000 after acquiring an additional 5,049,709 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Lumen Technologies by 368.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,812,495 shares of the technology company’s stock worth $52,111,000 after acquiring an additional 7,717,596 shares during the period. Institutional investors own 66.19% of the company’s stock.

Lumen Technologies Company Profile

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.