Key Points
- CEO Kathleen Johnson bought 100,000 Lumen shares for approximately $613,000 at an average price of $6.13, signaling management confidence in the company’s outlook.
- Lumen’s second-quarter loss of $0.07 per share beat expectations, and revenue of $2.81 billion exceeded forecasts. However, revenue declined 9.3% year over year as legacy-business weakness continued.
- Analyst sentiment remains cautious: Goldman Sachs and Wells Fargo lowered their price targets, while the stock has a consensus “Reduce” rating and an $8.11 target price.
Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) CEO Kathleen Johnson purchased 100,000 shares of the firm's stock in a transaction on Thursday, August 6th. The stock was acquired at an average price of $6.13 per share, for a total transaction of $613,000.00. Following the transaction, the chief executive officer owned 100,000 shares of the company's stock, valued at $613,000. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Lumen Technologies Stock Performance
Shares of NYSE:LUMN opened at $5.89 on Friday. The company has a market capitalization of $6.08 billion, a PE ratio of -5.78 and a beta of 1.78. The stock has a fifty day moving average of $7.51 and a 200-day moving average of $7.84. Lumen Technologies, Inc. has a one year low of $3.63 and a one year high of $11.95.
Lumen Technologies (NYSE:LUMN - Get Free Report) last issued its earnings results on Tuesday, August 4th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.06. The company had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.74 billion. The business's revenue was down 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. As a group, research analysts forecast that Lumen Technologies, Inc. will post -0.39 EPS for the current fiscal year.
More Lumen Technologies News
Here are the key news stories impacting Lumen Technologies this week:
- Positive Sentiment: CEO Kathleen E. Johnson purchased 100,000 LUMN shares for approximately $613,000, signaling confidence in the company’s turnaround and aligning management’s interests with shareholders. SEC Form 4 filing
- Positive Sentiment: Lumen’s second-quarter adjusted loss of $0.07 per share beat the $0.13 consensus estimate, while revenue of $2.81 billion exceeded expectations. Free cash flow turned positive, and the company maintained its full-year free-cash-flow outlook of $1.9 billion to $2.1 billion. Lumen Posts Narrower-Than-Expected Q2 Loss
- Positive Sentiment: Strategic revenue increased roughly 14%, now representing more than half of business revenue. Growth in networking-as-a-service and the Alkira digital-networking platform supports Lumen’s shift toward AI-enabled and cloud-focused services. Lumen Q2 Earnings Call Highlights
- Positive Sentiment: Lumen is expanding its multi-cloud strategy through an agreement with Amdocs to modernize enterprise service orchestration and order management on AWS, potentially improving service delivery and innovation. Lumen Extends Multi-Cloud Strategy
- Neutral Sentiment: Lumen appointed technology and operations veteran John M. Hinshaw to its board, adding experience from HSBC, Hewlett-Packard, Boeing, and Verizon Wireless. The move supports modernization efforts but does not immediately change financial results. Lumen Appoints John M. Hinshaw
- Negative Sentiment: Revenue fell 9.3% year over year to $2.81 billion, while legacy-business declines continue to pressure total sales and EBITDA. The earnings beat therefore has not eliminated concerns about the pace and profitability of Lumen’s transformation.
- Negative Sentiment: Goldman Sachs reduced its price target from $8.50 to $7.25 and Wells Fargo cut its target from $9.00 to $7.50; both firms retained neutral or equal-weight ratings. The reductions likely contributed to the weaker share performance by signaling limited near-term upside despite the earnings beat.
Institutional Investors Weigh In On Lumen Technologies
Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in shares of Lumen Technologies by 324.7% during the 4th quarter. JPMorgan Chase & Co. now owns 22,211,742 shares of the technology company's stock valued at $172,585,000 after acquiring an additional 16,981,326 shares in the last quarter. Norges Bank purchased a new stake in shares of Lumen Technologies during the fourth quarter worth $106,557,000. Price T Rowe Associates Inc. MD boosted its position in Lumen Technologies by 737.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,043,124 shares of the technology company's stock valued at $62,496,000 after purchasing an additional 7,082,560 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Lumen Technologies by 87.2% in the second quarter. Bank of New York Mellon Corp now owns 10,489,367 shares of the technology company's stock valued at $80,558,000 after purchasing an additional 4,886,999 shares in the last quarter. Finally, Trexquant Investment LP grew its stake in Lumen Technologies by 481.2% in the fourth quarter. Trexquant Investment LP now owns 5,605,410 shares of the technology company's stock valued at $43,554,000 after purchasing an additional 4,640,911 shares in the last quarter. Institutional investors and hedge funds own 66.19% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have issued reports on LUMN shares. JPMorgan Chase & Co. boosted their price objective on Lumen Technologies from $6.00 to $7.00 and gave the stock a "neutral" rating in a report on Monday, May 11th. TD Cowen raised their target price on shares of Lumen Technologies from $8.00 to $9.00 and gave the stock a "hold" rating in a report on Wednesday, May 6th. UBS Group lifted their target price on shares of Lumen Technologies from $6.00 to $8.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Wall Street Zen lowered shares of Lumen Technologies from a "hold" rating to a "sell" rating in a report on Saturday, August 1st. Finally, The Goldman Sachs Group reduced their price target on shares of Lumen Technologies from $8.50 to $7.25 and set a "neutral" rating for the company in a research report on Wednesday. Nine analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of $8.11.
View Our Latest Research Report on Lumen Technologies
About Lumen Technologies
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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.
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