During the last session, Lumen Technologies Inc. (NYSE:LUMN)’s traded shares were 24.03 million, with the beta value of the company hitting 0.99. At the end of the trading day, the stock’s price was $1.98, reflecting an intraday loss of -5.71% or -$0.12. The 52-week high for the LUMN share is $12.54, that puts it down -533.33 from that peak though still a striking -4.04% loss since the share price plummeted to a 52-week low of $2.06. The company’s market capitalization is $2.12B, and the average intraday trading volume over the past 10 days was 19.25 million shares, and the average trade volume was 30.30 million shares over the past three months.
Lumen Technologies Inc. (NYSE:LUMN) trade information
Lumen Technologies Inc. (LUMN) registered a -5.71% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -5.71% in intraday trading to $1.98 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is -25.00%, and it has moved by -17.15% in 30 days. Based on these gigs, the overall price performance for the year is -82.71%. The short interest in Lumen Technologies Inc. (NYSE:LUMN) is 137.32 million shares and it means that shorts have 6.81 day(s) to cover.
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Lumen Technologies Inc. (LUMN) estimates and forecasts
Statistics show that Lumen Technologies Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Lumen Technologies Inc. (LUMN) shares have gone down -65.62% during the last six months, with a year-to-date growth rate less than the industry average at -74.19% against 18.80. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -220.00% this quarter and then drop -35.70% in the quarter after that. In the rating firms’ projections, revenue will decrease -16.10% compared to the previous financial year.
Revenue for the current quarter is expected to be $3.69 billion as predicted by 8 analyst(s). Meanwhile, a consensus of 8 analyst(s) estimates revenue growth to $3.64 billion by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $4.61 billion and $4.41 billion respectively. In this case, analysts expect current quarter sales to shrink by -20.00% and then drop by -17.50% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -39.80%. While earnings are projected to return -180.60% in 2023.
Lumen Technologies Inc. is due to release its next quarterly earnings between August 01 and August 07. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Lumen Technologies Inc. (NYSE:LUMN)’s Major holders
Lumen Technologies Inc. insiders own 1.09% of total outstanding shares while institutional holders control 81.80%, with the float percentage being 82.71%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 999 institutions own stock in it. As of Mar 30, 2023, the company held over 112.83 million shares (or 11.23% of all shares), a total value of $299.01 million in shares.
The next largest institutional holding, with 111.88 million shares, is of Blackrock Inc.’s that is approximately 11.14% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $296.48 million.
Also, the Mutual Funds coming in first place with the largest holdings of Lumen Technologies Inc. (LUMN) shares are Vanguard Total Stock Market Index Fund and Pacer U.S. Cash Cows 100 ETF. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 31.46 million shares. This amounts to just over 3.14 percent of the company’s overall shares, with a $164.21 million market value. The same data shows that the other fund manager holds slightly less at 23.81 million, or about 2.38% of the stock, which is worth about $125.0 million.