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Analyzing Lumen Technologies Inc (NYSE: LUMN) Stock’s Performance and Trends for Investment

In the last trading session, 12.13 million Lumen Technologies Inc (NYSE:LUMN) shares changed hands as the company’s beta touched 1.06. With the company’s per share price at $1.52 changed hands at $0.02 or 1.33% during last session, the market valuation stood at $1.53B. LUMN’s last price was a discount, traded about -173.03% off its 52-week high of $4.15. The share price had its 52-week low at $0.78, which suggests the last value was 48.68% up since then. When we look at Lumen Technologies Inc’s average trading volume, we note the 10-day average is 16.91 million shares, with the 3-month average coming to 0.79.

Lumen Technologies Inc (NYSE:LUMN) trade information

Instantly LUMN was in green as seen at the end of in last trading. With action 16.92%, the performance over the past five days has been green. The jump to weekly highs of 1.5500 added 1.33% to the stock’s daily price. The company’s shares are showing year-to-date downside of -16.94%, with the 5-day performance at 16.92% in the green. However, in the 30-day time frame, Lumen Technologies Inc (NYSE:LUMN) is -10.59% down. Looking at the short shares, we see there were 146.67 million shares sold at short interest cover period of 9.12 days.

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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 -19.58% over the past 6 months, a -250.00% in annual growth rate that is considerably lower than the industry average of 8.60%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Lumen Technologies Inc will fall -80.00%, while the growth in revenue is estimated to hit -100.00% for the next quarter. Year-over-year growth is forecast to reach -8.40% down from the last financial year.

Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of $3.38 billion. 7 analysts are of the opinion that Lumen Technologies Inc’s revenue for the quarter ending Jun 2024 will be $3.33 billion. The company’s revenue for the corresponding quarters a year ago was $3.74 billion. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -9.60%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -45.15%. The 2024 estimates are for Lumen Technologies Inc earnings to decrease by -110.89%.

LUMN Dividends

Lumen Technologies Inc is expected to release its next quarterly earnings report between April 30 and May 06.

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

If we look at who the major shareholders are, we find that insiders hold 1.34% of Lumen Technologies Inc shares while 66.77% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 67.68%. There are 66.77% institutions holding the Lumen Technologies Inc stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 14.12% of the shares, roughly 142.32 million LUMN shares worth $321.65 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 11.41% or 115.0 million shares worth $259.89 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Sep 29, 2023 were iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund. With 47.06 million shares estimated at $66.83 million under it, the former controlled 4.67% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.99% of the shares, roughly 30.16 million shares worth around $68.16 million.

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