Lumen Technologies (NYSE:LUMN) Announces Earnings Results, Misses Estimates By $0.01 EPS

Lumen Technologies (NYSE:LUMN) announced its quarterly earnings results on Tuesday. The technology company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01), Briefing.com reports. Lumen Technologies had a negative net margin of 76.21% and a positive return on equity of 3.35%. The company had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same quarter last year, the company posted $0.10 EPS. The firm’s quarterly revenue was down 12.0% on a year-over-year basis.

Lumen Technologies Stock Up 0.8 %

Shares of LUMN opened at $1.22 on Thursday. Lumen Technologies has a 52 week low of $0.78 and a 52 week high of $2.70. The firm has a market cap of $1.23 billion, a P/E ratio of -0.11 and a beta of 1.16. The firm’s 50-day simple moving average is $1.50 and its 200 day simple moving average is $1.48. The company has a debt-to-equity ratio of 47.56, a quick ratio of 1.35 and a current ratio of 1.35.

Insider Activity at Lumen Technologies

In other Lumen Technologies news, Director James Fowler bought 30,000 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were purchased at an average price of $1.50 per share, for a total transaction of $45,000.00. Following the transaction, the director now directly owns 183,038 shares in the company, valued at approximately $274,557. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Lumen Technologies news, Director T Michael Glenn bought 50,000 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were purchased at an average price of $1.47 per share, for a total transaction of $73,500.00. Following the transaction, the director now directly owns 272,019 shares in the company, valued at approximately $399,867.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James Fowler bought 30,000 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were acquired at an average price of $1.50 per share, for a total transaction of $45,000.00. Following the transaction, the director now owns 183,038 shares in the company, valued at $274,557. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 113,500 shares of company stock worth $174,780. Insiders own 1.68% 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.