Lumen Technologies Inc. (NYSE: LUMN) stock fell -5.71% on Wednesday to $1.98 against a previous-day closing price of $2.10. With 24.03 million shares changed hands, the volume of the stock remained lighter than its average volume of 30.3 million shares. During the session, the Telecom Services company that operates in wider Communication Services sector, reached to the highest price of $2.1500 whereas the lowest price it dropped to was $1.9200. The 52-week range on LUMN shows that it touched its highest point at $12.54 and its lowest point at $2.06 during that stretch. It currently has a 1-year price target of $3.23. Beta for the stock currently stands at 0.99.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of LUMN was down-trending over the past week, with a drop of -25.00%, but this was down by -17.15% over a month. Three-month performance dropped to -45.15% while six-month performance fell -65.62%. The stock lost -82.71% in the past year, while it has lost -62.07% so far this year. A look at the trailing 12-month EPS for LUMN yields -1.66 with Next year EPS estimates of 0.26. For the next quarter, that number is -0.42. This implies an EPS growth rate of -180.60% for this year and -42.18% for next year.
Float and Shares Shorts:
At present, 1.00 billion LUMN shares are outstanding with a float of 991.92 million shares on hand for trading. On Apr 27, 2023, short shares totaled 137.32 million, which was 13.67% higher than short shares on Mar 30, 2023. In addition to Ms. Kathleen E. Johnson as the firm’s Pres, CEO & Director, Mr. Christopher David Stansbury serves as its Exec. VP & CFO.
Through their ownership of 81.80% of LUMN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 40.78% of LUMN, in contrast to 33.50% held by mutual funds. Shares owned by individuals account for 1.94%. As the largest shareholder in LUMN with 11.14% of the stake, The Vanguard Group, Inc. holds 111,501,571 shares worth 111,501,571. A second-largest stockholder of LUMN, BlackRock Fund Advisors, holds 102,699,675 shares, controlling over 10.26% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in LUMN, holding 45,035,031 shares or 4.50% stake. With a 4.70% stake in LUMN, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 47,061,267 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 3.27% of LUMN stock, is the second-largest Mutual Fund holder. It holds 32,769,128 shares valued at 77.66 million. Vanguard Small Cap Index Fund holds 2.71% of the stake in LUMN, owning 27,083,960 shares worth 64.19 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, LUMN reported revenue of $4.61B and operating income of $912.00M. The EBITDA in the recently reported quarter was $1.77B and diluted EPS was $0.34.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for LUMN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With LUMN analysts setting a high price target of $5.00 and a low target of $2.00, the average target price over the next 12 months is $3.24. Based on these targets, LUMN could surge 152.53% to reach the target high and rise by 1.01% to reach the target low. Reaching the average price target will result in a growth of 63.64% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded LUMN stock several times over the past three months with 6 Buys and 11 Sells. In these transactions, 7,709,054 shares were bought while 3,638,300 shares were sold. The number of buy transactions has increased to 15 while that of sell transactions has risen to 11 over the past year. The total number of shares bought during that period was 8,342,376 while 3,638,300 shares were sold.