Fintel reports that on August 17, 2023, RBC Capital maintained coverage of Lumen Technologies (NYSE:LUMN) with a Sector Perform recommendation.
Analyst Price Forecast Suggests 71.09% Upside
As of August 2, 2023, the average one-year price target for Lumen Technologies is 2.94. The forecasts range from a low of 2.02 to a high of $4.72. The average price target represents an increase of 71.09% from its latest reported closing price of 1.72.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Lumen Technologies is 15,033MM, a decrease of 3.57%. The projected annual non-GAAP EPS is 0.76.
What is the Fund Sentiment?
There are 1171 funds or institutions reporting positions in Lumen Technologies. This is a decrease of 122 owner(s) or 9.44% in the last quarter. Average portfolio weight of all funds dedicated to LUMN is 0.10%, a decrease of 25.55%. Total shares owned by institutions decreased in the last three months by 9.90% to 745,546K shares. 
The put/call ratio of LUMN is 2.56, indicating a bearish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 47,061K shares representing 4.67% ownership of the company.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 32,238K shares representing 3.20% ownership of the company. In it's prior filing, the firm reported owning 31,458K shares, representing an increase of 2.42%. The firm decreased its portfolio allocation in LUMN by 51.96% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 27,094K shares representing 2.69% ownership of the company. In it's prior filing, the firm reported owning 13,335K shares, representing an increase of 50.78%. The firm decreased its portfolio allocation in LUMN by 1.00% over the last quarter.
First Trust Advisors holds 26,624K shares representing 2.64% ownership of the company. In it's prior filing, the firm reported owning 17,817K shares, representing an increase of 33.08%. The firm decreased its portfolio allocation in LUMN by 26.44% over the last quarter.
SKYY - First Trust Cloud Computing ETF holds 23,231K shares representing 2.30% ownership of the company. In it's prior filing, the firm reported owning 15,568K shares, representing an increase of 32.98%. The firm decreased its portfolio allocation in LUMN by 28.90% over the last quarter.
Lumen Technologies Background Information
(This description is provided by the company.)
Lumen is guided by its belief that humanity is at its best when technology advances the way we live and work. With approximately 450,000 route fiber miles and serving customers in more than 60 countries, it delivers the fastest, most secure platform for applications and data to help businesses, government and communities deliver amazing experiences.
Additional reading:
- Lumen fortifies telecom disruptor stance with latest board appointment Nationwide executive James ‘Jim’ Fowler brings digital transformation expertise to the Board
- Lumen Technologies reports second quarter 2023 results
- Repositioning Lumen for Stabilization and Growth JUNE 5, 2023
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