Lumen Technologies (NYSE:LUMN) Shares Gap Down to $13.29

Lumen Technologies, Inc. (NYSE:LUMN)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $13.29, but opened at $12.76. Lumen Technologies shares last traded at $12.47, with a volume of 486,324 shares traded.

Separately, Citigroup raised Lumen Technologies from a “sell” rating to a “neutral” rating and set a $13.00 target price on the stock in a research report on Thursday, November 4th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat, Lumen Technologies has a consensus rating of “Hold” and an average price target of $13.50.

The company has a debt-to-equity ratio of 2.44, a quick ratio of 1.41 and a current ratio of 1.41. The company has a market cap of $12.63 billion, a P/E ratio of -17.38, a P/E/G ratio of 1.09 and a beta of 0.97. The firm has a 50 day moving average price of $12.96 and a two-hundred day moving average price of $12.69.

Lumen Technologies (NYSE:LUMN) last issued its earnings results on Wednesday, November 3rd. The technology company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.38 by $0.11. Lumen Technologies had a positive return on equity of 17.98% and a negative net margin of 3.83%. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.92 billion. During the same quarter last year, the company earned $0.40 EPS. On average, sell-side analysts predict that Lumen Technologies, Inc. will post 1.95 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 10th. Shareholders of record on Monday, November 29th were paid a $0.25 dividend. The ex-dividend date was Friday, November 26th. This represents a $1.00 annualized dividend and a yield of 8.10%. Lumen Technologies’s dividend payout ratio is currently -140.85%.

In other Lumen Technologies news, EVP Stacey W. Goff sold 128,616 shares of the firm’s stock in a transaction dated Friday, November 5th. The stock was sold at an average price of $14.16, for a total value of $1,821,202.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. Truvestments Capital LLC purchased a new stake in shares of Lumen Technologies in the 3rd quarter valued at about $27,000. Moors & Cabot Inc. purchased a new position in shares of Lumen Technologies during the 3rd quarter valued at about $27,000. D Orazio & Associates Inc. purchased a new position in shares of Lumen Technologies during the 3rd quarter valued at about $30,000. Evolution Wealth Advisors LLC bought a new position in Lumen Technologies during the 3rd quarter worth approximately $31,000. Finally, First Horizon Advisors Inc. grew its position in Lumen Technologies by 1,735.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 2,514 shares of the technology company’s stock worth $31,000 after acquiring an additional 2,377 shares during the last quarter. 79.46% of the stock is currently owned by hedge funds and other institutional investors.

About Lumen Technologies (NYSE:LUMN)

Lumen Technologies, Inc is an investment holding company, which engages in the provision of integrated communications to residential and business customers. It operates through the following segments: International and Global Accounts Management, Enterprise, Small and Medium Business, Wholesale, and Consumer.

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