During the last session, Lumen Technologies Inc (NYSE:LUMN)’s traded shares were 1.58 million, with the beta value of the company hitting 1.21. At the end of the trading day, the stock’s price was $7.68, reflecting an intraday gain of 1.66% or $0.13. The 52-week high for the LUMN share is $10.33, that puts it down -34.51 from that peak though still a striking 87.37% gain since the share price plummeted to a 52-week low of $0.97. The company’s market capitalization is $7.79B, and the average intraday trading volume over the past 10 days was 17.25 million shares, and the average trade volume was 18.62 million shares over the past three months.
Lumen Technologies Inc (LUMN) received a consensus recommendation of Hold from analysts. That translates to a mean rating of 3.43. LUMN has a Sell rating from 3 analyst(s) out of 7 analysts who have looked at this stock. 3 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 1 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -0.05.
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Lumen Technologies Inc (NYSE:LUMN) trade information
Lumen Technologies Inc (LUMN) registered a 1.66% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 1.66% in intraday trading to $7.68, hitting a weekly high. The stock’s 5-day price performance is -11.07%, and it has moved by 25.20% in 30 days. Based on these gigs, the overall price performance for the year is 481.44%. The short interest in Lumen Technologies Inc (NYSE:LUMN) is 65.24 million shares and it means that shorts have 4.98 day(s) to cover.
The consensus price target of analysts on Wall Street is $4, which implies a decrease of -92.0% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $3.15 and $10 respectively. As a result, LUMN is trading at a discount of -30.21% off the target high and 58.98% off the low.
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 up 494.96% during the last six months, with a year-to-date growth rate less than the industry average at -290.00% against 18.50. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -167.38% this quarter and then drop -285.00% in the quarter after that. In the rating firms’ projections, revenue will decrease -10.83% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 3.2B as predicted by 9 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to 3.14B by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 3.52B and 3.29B respectively. In this case, analysts expect current quarter sales to shrink by -9.00% and then drop by -4.65% 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 -45.15%. While earnings are projected to return -264.91% in 2024, the next five years will return -2.00% per annum.
LUMN Dividends
Lumen Technologies Inc is due to release its next quarterly earnings in December. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. The average dividend yield of the company for the last 5 years is 11.94%.
Lumen Technologies Inc (NYSE:LUMN)’s Major holders
Lumen Technologies Inc insiders own 7.56% of total outstanding shares while institutional holders control 65.37%, with the float percentage being 70.72%. BLACKROCK INC. is the largest shareholder of the company, while 642.0 institutions own stock in it. As of 2024-06-30, the company held over 148.83 million shares (or 15.1122% of all shares), a total value of $163.72 million in shares.
The next largest institutional holding, with 118.12 million shares, is of VANGUARD GROUP INC’s that is approximately 11.9933% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $129.93 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 30, 2024 indicates that iShares Core S&P Smallcap ETF owns about 47.06 shares. This amounts to just over 4.64 percent of the company’s overall shares, with a $370.61 million market value. The same data shows that the other fund manager holds slightly less at 31.48, or about 3.10% of the stock, which is worth about $247.92 million.
