Key Points
- CEO Kathleen Johnson bought 100,000 Lumen shares at an average price of $3.97, investing $397,000 and doubling her stake to 200,000 shares.
- Lumen reported quarterly earnings per share of $(0.14), better than analysts’ $(0.23) estimate, while revenue of $2.71 billion fell short of the $2.73 billion consensus.
- Analyst sentiment remains cautious: the consensus rating is “Reduce,” with a $6.19 price target, and Citigroup and TD Cowen recently lowered their targets.
Lumen Technologies, Inc. (NYSE:LUMN - Get Free Report) CEO Kathleen Johnson purchased 100,000 shares of the firm's stock in a transaction on Friday, November 6th. The shares were purchased at an average cost of $3.97 per share, with a total value of $397,000.00. Following the completion of the purchase, the chief executive officer owned 200,000 shares in the company, valued at $794,000. This represents a 100.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Lumen Technologies Stock Performance
Shares of LUMN stock opened at $4.32 on Tuesday. Lumen Technologies, Inc. has a 1 year low of $3.84 and a 1 year high of $11.39. The stock has a market cap of $4.46 billion, a PE ratio of -4.24 and a beta of 1.94. The business's fifty day moving average is $5.54 and its 200-day moving average is $7.13.
Lumen Technologies (NYSE:LUMN - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.73 billion. Equities research analysts predict that Lumen Technologies, Inc. will post -0.54 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several brokerages have commented on LUMN. Citigroup dropped their price target on shares of Lumen Technologies from $8.25 to $5.50 and set a "neutral" rating on the stock in a research report on Friday. TD Cowen reduced their price objective on shares of Lumen Technologies from $9.00 to $8.00 and set a "hold" rating for the company in a research report on Thursday, November 5th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lumen Technologies in a research note on Friday, July 17th. Moffett Nathanson raised shares of Lumen Technologies from a "sell" rating to a "neutral" rating and set a $4.00 price objective on the stock in a research note on Friday, October 30th. Finally, Wall Street Zen upgraded shares of Lumen Technologies from a "sell" rating to a "hold" rating in a report on Sunday, August 9th. Ten equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $6.19.
View Our Latest Report on LUMN
Institutional Investors Weigh In On Lumen Technologies
A number of institutional investors and hedge funds have recently modified their holdings of LUMN. BlackRock Inc. grew its holdings in shares of Lumen Technologies by 3.5% in the 2nd quarter. BlackRock Inc. now owns 142,261,845 shares of the technology company's stock worth $1,092,571,000 after acquiring an additional 4,796,141 shares during the last quarter. State Street Corp lifted its holdings in shares of Lumen Technologies by 4.3% during the second quarter. State Street Corp now owns 48,003,189 shares of the technology company's stock valued at $368,664,000 after purchasing an additional 1,990,860 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Lumen Technologies by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 14,994,640 shares of the technology company's stock valued at $104,156,000 after purchasing an additional 144,664 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Lumen Technologies by 87.2% in the 2nd 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 during the period. Finally, Allianz Asset Management GmbH increased its stake in Lumen Technologies by 18.7% in the 2nd quarter. Allianz Asset Management GmbH now owns 10,074,316 shares of the technology company's stock worth $77,371,000 after purchasing an additional 1,585,083 shares in the last quarter. Institutional investors and hedge funds own 66.19% of the company's stock.
More Lumen Technologies News
Here are the key news stories impacting Lumen Technologies this week:
- Positive Sentiment: CEO Kathleen Johnson bought 100,000 shares for about $397,000, doubling her position, and director Michelle J. Goldberg bought 25,000 shares for about $97,750. The purchases may signal confidence in Lumen, though they do not change the company’s fundamentals. CEO purchase filing Director purchase filing
- Positive Sentiment: On its Q3 earnings call, management pointed to growing demand for AI networking and a 10% year-over-year increase in strategic sales. Lumen also expanded its Microsoft collaboration to help enterprises connect applications and data with Azure AI services. Q3 earnings call Microsoft AI connectivity collaboration
- Neutral Sentiment: Analyst views remain mixed: TD Cowen maintained a Hold rating, while other coverage described disagreement on the stock. Some commentary argues Lumen may be undervalued based on future cash flow, but that view depends on the company delivering on its outlook. TD Cowen rating Cash flow valuation commentary
- Negative Sentiment: Citigroup, TD Cowen, and JPMorgan reportedly reduced their price targets, adding pressure to sentiment. The reports provided here do not specify the revised targets. Citigroup price target reduction TD Cowen price target trim JPMorgan price target cut
- Negative Sentiment: Q3 revenue of $2.72 billion was slightly below consensus, and Lumen reported a $265 million net loss. The strategic-sales growth is encouraging, but investors still face execution and profitability risks. Q3 results and call
Lumen Technologies Company Profile
(
Get Free Report)
Lumen Technologies is a telecommunications and technology company that provides network and digital services primarily to businesses, government agencies, and wholesale customers. Its offerings include fiber and internet connectivity, private networking, voice and collaboration services, cloud connectivity, and managed security solutions.
The company serves customers across North America and in international markets through its fiber network and related technology platforms. Lumen has shifted its focus toward enterprise services in recent years, including after selling consumer and local-exchange operations in several states.
Lumen was known as CenturyLink until adopting its current name in 2020.
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