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Is Lumen Technologies Inc. (NYSE: LUMN) Stock Set To Rise More?

In the latest trading session, 3.3 million Lumen Technologies Inc. (NYSE:LUMN) shares changed hands as the company’s beta touched 1.01. With the company’s most recent per share price at $1.57 changing hands around $0.03 or 1.62% at last look, the market valuation stands at $1.49B. LUMN’s current price is a discount, trading about -468.15% off its 52-week high of $8.92. The share price had its 52-week low at $1.35, which suggests the last value was 14.01% up since then. When we look at Lumen Technologies Inc.’s average trading volume, we note the 10-day average is 16.45 million shares, with the 3-month average coming to 21.80 million.

Analysts gave the Lumen Technologies Inc. (LUMN) stock a consensus recommendation rating of an Underweight, calculated at a mean rating of 3.70. If we narrow down to specifics, the data shows that 5 out of 13 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 6 recommended LUMN as a Hold, 1 felt it is a Buy and 1 rated the stock as Underweight. Lumen Technologies Inc.’s EPS for the current quarter is expected to be $0.07.

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Lumen Technologies Inc. (NYSE:LUMN) trade information

Instantly LUMN is in green as seen in intraday trades today. With action 14.23%, the performance over the past five days has been green. The jump to weekly highs of 1.5900 on Friday, 09/15/23 added 1.62% to the stock’s daily price. The company’s shares are showing year-to-date downside of -70.02%, with the 5-day performance at 14.23% in the green. However, in the 30-day time frame, Lumen Technologies Inc. (NYSE:LUMN) is -9.01% down. Looking at the short shares, we see there were 153.87 million shares sold at short interest cover period of 6.94 days.

The consensus price target for the stock as assigned by Wall Street analysts is $2.45, meaning bulls need an upside of 35.92% from its recent market value. According to analyst projections, LUMN’s forecast low is $1.50 with $4.00 as the target high. To hit the forecast high, the stock’s price needs a -154.78% plunge from its current level, while the stock would need to tank 4.46% for it to hit the projected low.

Lumen Technologies Inc. (LUMN) estimates and forecasts

Data shows that the Lumen Technologies Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -36.90% over the past 6 months, a -81.94% in annual growth rate that is considerably lower than the industry average of 17.90%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Lumen Technologies Inc. will fall -50.00%, while the growth in revenue is estimated to hit -88.40% for the next quarter. Year-over-year growth is forecast to reach -16.70% down from the last financial year.

Consensus estimates given by 8 financial analysts project the company’s revenue in the current quarter to hit an average of $3.61 billion. 8 analysts are of the opinion that Lumen Technologies Inc.’s revenue for the quarter ending Dec 2023 will be $3.56 billion. The company’s revenue for the corresponding quarters a year ago was $4.41 billion and $3.8 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -18.20%. The estimates for the next quarter sales put growth at -6.30%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -39.80%. The 2023 estimates are for Lumen Technologies Inc. earnings to decrease by -180.60%.

LUMN Dividends

Lumen Technologies Inc. is expected to release its next quarterly earnings report between October 31 and November 06.

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