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Lumen Technologies Inc. (LUMN) Is Becoming Less Appealing To Investors After A 5.24% Rise

Lumen Technologies Inc. (NYSE:LUMN) has a beta value of 0.97 and has seen 4.25 million shares traded in the recent trading session. The company, currently valued at $5.13B, closed the recent trade at $5.42 per share which meant it gained $0.27 on the day or 5.24% during that session. The LUMN stock price is -138.56% off its 52-week high price of $12.93 and 8.49% above the 52-week low of $4.96. If we look at the company’s 10-day average daily trading volume, we find that it stood at 21.15 million shares traded. The 3-month trading volume is 23.94 million shares.

The consensus among analysts is that Lumen Technologies Inc. (LUMN) is a Hold stock at the moment, with a recommendation rating of 3.30. 4 analysts rate the stock as a Sell, while 0 rate it as Overweight. 7 out of 15 have rated it as a Hold, with 2 advising it as a Buy. 2 have rated the stock as Underweight. The expected earnings per share for the stock is $0.37.

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Lumen Technologies Inc. (NYSE:LUMN) trade information

Sporting 5.24% in the green today, the stock has traded in the red over the last five days, with the highest price hit on Monday, 01/23/23 when the LUMN stock price touched $5.42 or saw a rise of 12.44%. Year-to-date, Lumen Technologies Inc. shares have moved -1.34%, while the 5-day performance has seen it change -12.71%. Over the past 30 days, the shares of Lumen Technologies Inc. (NYSE:LUMN) have changed -2.46%. Short interest in the company has seen 165.12 million shares shorted with days to cover at 7.68.

Wall Street analysts have a consensus price target for the stock at $6.65, which means that the shares’ value could jump 18.5% from the levels at last check today. The projected low price target is $5.00 while the price target rests at a high of $8.80. In that case, then, we find that the latest price level in today’s session is -62.36% off the targeted high while a plunge would see the stock lose 7.75% from the levels at last check today.

Lumen Technologies Inc. (LUMN) estimates and forecasts

Figures show that Lumen Technologies Inc. shares have underperformed across the wider relevant industry. The company’s shares have lost -51.18% over the past 6 months, with this year growth rate of -38.22%, compared to 12.90% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are -27.50% and -56.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be -10.90%.

11 analysts offering their estimates for the company have set an average revenue estimate of $4.41 billion for the current quarter. 10 have an estimated revenue figure of $3.85 billion for the next quarter concluding in Dec 2022. Year-ago sales stood $4.9 billion and $4.85 billion respectively for this quarter and the next, and analysts expect sales will shrink by -9.90% for the current quarter and -20.70% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 10.50% over the past 5 years.

LUMN Dividends

Lumen Technologies Inc. is expected to release its next earnings report between February 07 and February 13 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Lumen Technologies Inc. (NYSE:LUMN)’s Major holders

Insiders own 0.90% of the company shares, while shares held by institutions stand at 78.84% with a share float percentage of 79.55%. Investors are also buoyed by the number of investors in a company, with Lumen Technologies Inc. having a total of 1,070 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 118.68 million shares worth more than $1.29 billion. As of Jun 29, 2022, Vanguard Group, Inc. (The) held 11.46% of shares outstanding.

The other major institutional holder is Blackrock Inc., with the holding of over 96.1 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $1.05 billion and represent 9.28% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund. As of Jun 29, 2022, the former fund manager holds about 2.94% shares in the company for having 30.44 million shares of worth $332.12 million while later fund manager owns 23.78 million shares of worth $259.48 million as of Jun 29, 2022, which makes it owner of about 2.30% of company’s outstanding stock.

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