Lumen Technologies Inc (NYSE: LUMN) Could Be A Good Bet If You’re A Risk-Capital Investor

In the last trading session, 13.23 million shares of the Lumen Technologies Inc (NYSE:LUMN) were traded, and its beta was 1.12. Most recently the company’s share price was $1.41, and it changed around -$0.05 or -3.42% from the last close, which brings the market valuation of the company to $1.42B. LUMN currently trades at a discount to its 52-week high of $2.70, offering almost -91.49% off that amount. The share price’s 52-week low was $0.78, which indicates that the current value has risen by an impressive 44.68% since then. We note from Lumen Technologies Inc’s average daily trading volume that its 10-day average is 12.54 million shares, with the 3-month average coming to 13.94 million.

Lumen Technologies Inc (NYSE:LUMN) trade information

Instantly LUMN has showed a red trend with a performance of -3.42% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -22.95% year-to-date, but still down -12.42% over the last five days. On the other hand, Lumen Technologies Inc (NYSE:LUMN) is -12.96% down in the 30-day period. We can see from the shorts that 149.19 million shares have been sold at a short interest cover period of 13.28 day(s).

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The consensus price target as assigned by Wall Street analysts is $7.38, which translates to bulls needing to increase their stock price by 80.89% from its current value. Analyst projections state that LUMN is forecast to be at a low of $3.5 and a high of $12.

Lumen Technologies Inc (LUMN) estimates and forecasts

Lumen Technologies Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -0.70 percent over the past six months and at a -250.00% annual growth rate that is well below the industry average of 17.70%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -90.00% in revenue this quarter, and will report a decrease of -120.00% in the next quarter. The year-over-year growth rate is expected to be -8.40%, down from the previous year.

Consensus estimates provided by 8 financial analysts predict the company will bring in an average of $3.37 billion in revenue for the current quarter. 7 analysts expect Lumen Technologies Inc to make $3.33 billion in revenue for the quarter ending Jun 2024. Analysts predict that the company’s current quarter sales will drop, forecast at -9.90%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -45.15%.

LUMN Dividends

Lumen Technologies Inc’s next quarterly earnings report is expected to be released on April 30.

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

Upon looking at major shareholders, it appears that insiders hold 1.80% of Lumen Technologies Inc shares, and 67.44% of them are in the hands of institutional investors. The stock currently has a share float of 68.67%. Lumen Technologies Inc stock is held by 621 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2023, it held 14.12% of the shares, which is about 142.32 million shares worth $321.65 million.

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

iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Sep 29, 2023. The former held 47.06 million shares worth $66.83 million, making up 4.67% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 30.16 million shares worth around $68.16 million, which represents about 2.99% of the total shares outstanding.