Lumen Technologies (NYSE:LUMN) Releases Earnings Results, Beats Estimates By $0.17 EPS

Lumen Technologies (NYSE:LUMN – Get Rating) announced its quarterly earnings data on Wednesday. The technology company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.17, MarketWatch Earnings reports. Lumen Technologies had a net margin of 10.33% and a return on equity of 17.72%. The business had revenue of $4.68 billion for the quarter, compared to analyst estimates of $4.68 billion. During the same period in the prior year, the business posted $0.44 earnings per share. Lumen Technologies’s revenue was down 7.0% compared to the same quarter last year.

Shares of NYSE:LUMN traded up $0.33 during trading on Thursday, reaching $10.98. The stock had a trading volume of 160,912 shares, compared to its average volume of 9,637,708. The firm’s 50-day simple moving average is $10.96 and its 200 day simple moving average is $11.90. The company has a market capitalization of $11.34 billion, a P/E ratio of 5.58, a PEG ratio of 0.93 and a beta of 1.03. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 2.32. Lumen Technologies has a one year low of $9.31 and a one year high of $15.45.

The company also recently announced a quarterly dividend, which was paid on Friday, March 18th. Stockholders of record on Tuesday, March 8th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.11%. The ex-dividend date of this dividend was Monday, March 7th. Lumen Technologies’s dividend payout ratio is currently 52.36%.

A number of equities research analysts recently weighed in on the company. TheStreet upgraded Lumen Technologies from a “c+” rating to a “b” rating in a research note on Friday, February 11th. Zacks Investment Research downgraded Lumen Technologies from a “hold” rating to a “strong sell” rating and set a $9.75 price objective on the stock. in a report on Tuesday, April 19th. Finally, Moffett Nathanson decreased their price target on Lumen Technologies from $10.00 to $8.00 in a research note on Wednesday, February 16th. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $10.44.

Institutional investors have recently added to or reduced their stakes in the company. Neo Ivy Capital Management purchased a new position in Lumen Technologies in the fourth quarter valued at approximately $121,000. Visionary Wealth Advisors acquired a new stake in Lumen Technologies in the 4th quarter worth about $169,000. Cypress Capital Group lifted its stake in shares of Lumen Technologies by 15.5% in the 4th quarter. Cypress Capital Group now owns 19,091 shares of the technology company’s stock valued at $240,000 after purchasing an additional 2,564 shares in the last quarter. Integrated Wealth Concepts LLC lifted its position in Lumen Technologies by 14.3% during the 4th quarter. Integrated Wealth Concepts LLC now owns 20,957 shares of the technology company’s stock worth $263,000 after acquiring an additional 2,627 shares in the last quarter. Finally, Forum Financial Management LP purchased a new stake in Lumen Technologies during the 4th quarter worth approximately $277,000. 77.22% of the stock is owned by institutional investors and hedge funds.

Lumen Technologies Company Profile (Get Rating)

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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