During the recent session, Lumen Technologies Inc (NYSE:LUMN)’s traded shares were 3.18 million, with the beta value of the company hitting 1.13. At the last check today, the stock’s price was $1.29, reflecting an intraday loss of -3.36% or -$0.05. The 52-week high for the LUMN share is $2.70, that puts it down -109.3 from that peak though still a striking 39.53% gain since the share price plummeted to a 52-week low of $0.78. The company’s market capitalization is $1.31B, and the average intraday trading volume over the past 10 days was 11.88 million shares, and the average trade volume was 13.91 million shares over the past three months.
Lumen Technologies Inc (NYSE:LUMN) trade information
Lumen Technologies Inc (LUMN) registered a -3.36% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -3.36% in intraday trading to $1.29, hitting a weekly high. The stock’s 5-day price performance is -16.99%, and it has moved by -24.27% in 30 days. Based on these gigs, the overall price performance for the year is -46.71%. The short interest in Lumen Technologies Inc (NYSE:LUMN) is 149.19 million shares and it means that shorts have 13.28 day(s) to cover.
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 -3.36% during the last six months, with a year-to-date growth rate less than the industry average at -250.00% against 16.80. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -100.00% this quarter and then drop -110.00% in the quarter after that. In the rating firms’ projections, revenue will decrease -8.50% compared to the previous financial year.
Revenue for the current quarter is expected to be $3.37 billion as predicted by 8 analyst(s). Meanwhile, a consensus of 7 analyst(s) estimates revenue growth to $3.33 billion by the end of Jun 2024.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -45.15%. While earnings are projected to return -99.30% in 2024.
LUMN Dividends
Lumen Technologies Inc is due to release its next quarterly earnings on April 30. 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 1.80% of total outstanding shares while institutional holders control 67.44%, with the float percentage being 68.67%. Blackrock Inc. is the largest shareholder of the company, while 623 institutions own stock in it. As of Jun 29, 2023, the company held over 142.32 million shares (or 14.12% of all shares), a total value of $321.65 million in shares.
The next largest institutional holding, with 115.0 million shares, is of Vanguard Group Inc’s that is approximately 11.41% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $259.89 million.
Also, the Mutual Funds coming in first place with the largest holdings of Lumen Technologies Inc (LUMN) shares are iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund. Data provided on Sep 29, 2023 indicates that iShares Core S&P Smallcap ETF owns about 47.06 million shares. This amounts to just over 4.67 percent of the company’s overall shares, with a $66.83 million market value. The same data shows that the other fund manager holds slightly less at 30.16 million, or about 2.99% of the stock, which is worth about $68.16 million.
