Wall Street analysts expect Lumen Technologies, Inc. (NYSE: LUMN – Get Rating) to post sales of $4.61 billion in the current fiscal quarter, reports Zacks Investment Research. Ten analysts have made earnings estimates for Lumen Technologies, with the highest sales estimate at $4.72 billion and the lowest estimate at $4.57 billion. Lumen Technologies recorded sales of $4.92 billion in the same quarter last year, suggesting a negative year-over-year growth rate of 6.3%. The company is due to announce its next quarterly earnings report on Monday, January 1.
According to Zacks, analysts expect Lumen Technologies to report annual revenue of $17.64 billion for the current year, with estimates ranging from $16.76 billion to $18.43 billion. of dollars. For next year, analysts expect the company to post sales of $15.97 billion, with estimates ranging from $14.66 billion to $17.89 billion. Zacks sales averages are an average based on a survey of sell-side research companies that track Lumen Technologies.
Lumen Technologies (NYSE:LUMN – Get Rating) last announced its results on Wednesday, May 4. The technology company reported earnings per share (EPS) of $0.63 for the quarter, beating consensus analyst estimates of $0.46 by $0.17. The company posted revenue of $4.68 billion in the quarter, versus analyst estimates of $4.68 billion. Lumen Technologies achieved a net margin of 11.16% and a return on equity of 18.72%. Lumen Technologies’ revenues decreased by 7.0% compared to the same quarter last year. In the same quarter a year earlier, the company posted EPS of $0.44.
A number of stock analysts have recently released reports on LUMN shares. TheStreet upgraded shares of Lumen Technologies from a “c+” rating to a “b” rating in a Friday, February 11 research report. Moffett Nathanson cut his price target on Lumen Technologies shares from $10.00 to $8.00 in a Wednesday, Feb. 16 research report. Finally, Zacks Investment Research downgraded shares of Lumen Technologies from a “hold” rating to a “strong sell” rating and set a price target of $9.75 for the company. in a research report on Tuesday, April 19.
Shares of LUMN opened at $11.64 on Friday. The company has a 50-day moving average price of $11.33 and a 200-day moving average price of $11.69. The company has a market capitalization of $12.02 billion, a PE ratio of 5.65, a P/E/G ratio of 0.96 and a beta of 1.01. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt ratio of 2.31. Lumen Technologies has a 52-week low of $9.31 and a 52-week high of $15.45.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 10. Shareholders of record on Tuesday, May 31 will receive a dividend of $0.25 per share. This represents a dividend of $1.00 on an annualized basis and a yield of 8.59%. The ex-dividend date is Friday, May 27. Lumen Technologies’ dividend payout ratio is currently 48.54%.
A number of hedge funds have recently bought and sold shares of LUMN. Morgan Stanley increased its stake in Lumen Technologies by 91.9% during the second quarter. Morgan Stanley now owns 12,626,749 shares of the technology company valued at $171,598,000 after buying an additional 6,048,140 shares last quarter. ACR Alpine Capital Research LLC increased its stake in Lumen Technologies by 33.1% during the first quarter. ACR Alpine Capital Research LLC now owns 13,933,431 shares of the technology company valued at $157,029,000 after buying an additional 3,466,092 shares last quarter. Norges Bank acquired a new stake in Lumen Technologies during the fourth quarter worth approximately $43,373,000. Invesco Ltd. increased its stake in Lumen Technologies by 24.1% during the first quarter. Invesco Ltd. now owns 15,016,053 shares of the technology company valued at $169,230,000 after purchasing an additional 2,919,199 shares last quarter. Finally, Vanguard Group Inc. increased its stake in Lumen Technologies by 2.4% during the first quarter. Vanguard Group Inc. now owns 116,137,605 shares of the technology company valued at $1,308,871,000 after buying an additional 2,726,090 shares last quarter. 77.22% of the shares are held by institutional investors.
Lumen Technologies Company Profile (Get a 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 commercial and residential customers in the United States and around the world. The Company operates in two segments, enterprise and mass market.
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