Lumen Technologies, Inc. (NYSE:LUMN) Expected to Post FY2022 Earnings of $1.46 Per Share – MarketBeat

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Lumen Technologies, Inc. (NYSE:LUMN – Get Rating) – Stock analysts at Zacks Research lowered their FY2022 earnings estimates for Lumen Technologies in a report issued on Thursday, October 20th. Zacks Research analyst V. Doshi now anticipates that the technology company will earn $1.46 per share for the year, down from their prior forecast of $1.63. The consensus estimate for Lumen Technologies’ current full-year earnings is $1.52 per share. Zacks Research also issued estimates for Lumen Technologies’ Q1 2024 earnings at $0.18 EPS.
Lumen Technologies (NYSE:LUMN – Get Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The technology company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.11). The firm had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.60 billion. Lumen Technologies had a return on equity of 17.14% and a net margin of 10.49%.
A number of other equities analysts have also weighed in on the stock. Wells Fargo & Company lowered shares of Lumen Technologies from an “overweight” rating to an “equal weight” rating and set a $8.00 target price for the company. in a research report on Wednesday, October 5th. TheStreet lowered shares of Lumen Technologies from a “b” rating to a “c” rating in a research report on Monday, August 15th. Royal Bank of Canada dropped their target price on shares of Lumen Technologies from $11.00 to $6.00 and set a “sector perform” rating for the company in a research report on Thursday. Moffett Nathanson dropped their target price on shares of Lumen Technologies to $6.00 in a research report on Thursday, September 29th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Lumen Technologies in a research note on Friday, August 5th. They set an “underweight” rating and a $10.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $7.60.

Lumen Technologies Price Performance

Shares of NYSE:LUMN opened at $6.64 on Monday. The company has a debt-to-equity ratio of 2.29, a quick ratio of 2.04 and a current ratio of 2.04. The firm has a fifty day moving average price of $8.78 and a 200 day moving average price of $10.29. Lumen Technologies has a fifty-two week low of $6.34 and a fifty-two week high of $14.49. The firm has a market cap of $6.87 billion, a price-to-earnings ratio of 3.43 and a beta of 1.08.

Institutional Investors Weigh In On Lumen Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in LUMN. ACR Alpine Capital Research LLC raised its stake in shares of Lumen Technologies by 33.1% in the first quarter. ACR Alpine Capital Research LLC now owns 13,933,431 shares of the technology company’s stock valued at $157,029,000 after acquiring an additional 3,466,092 shares during the period. Invesco Ltd. increased its stake in Lumen Technologies by 24.1% in the 1st quarter. Invesco Ltd. now owns 15,016,053 shares of the technology company’s stock worth $169,230,000 after buying an additional 2,919,199 shares during the period. Vanguard Group Inc. increased its stake in Lumen Technologies by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 116,137,605 shares of the technology company’s stock worth $1,308,871,000 after buying an additional 2,726,090 shares during the period. BlackRock Inc. increased its stake in Lumen Technologies by 2.4% in the 1st quarter. BlackRock Inc. now owns 97,635,941 shares of the technology company’s stock worth $1,100,357,000 after buying an additional 2,332,996 shares during the period. Finally, Northern Trust Corp increased its stake in Lumen Technologies by 18.1% in the 2nd quarter. Northern Trust Corp now owns 13,972,016 shares of the technology company’s stock worth $152,435,000 after buying an additional 2,144,757 shares during the period. Hedge funds and other institutional investors own 79.02% of the company’s stock.

Lumen Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Tuesday, August 30th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 15.06%. The ex-dividend date was Monday, August 29th. Lumen Technologies’s payout ratio is 51.55%.

Lumen Technologies Company Profile

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Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services under the Lumen, Quantum Fiber, and CenturyLink brands to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets.

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