Fintel reports that on August 6, 2024, Citigroup upgraded their outlook for Lumen Technologies (NYSE:LUMN) from Sell to Neutral.
Analyst Price Forecast Suggests 41.15% Downside
As of July 24, 2024, the average one-year price target for Lumen Technologies is $1.52/share. The forecasts range from a low of $1.01 to a high of $2.62. The average price target represents a decrease of 41.15% from its latest reported closing price of $2.59 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Lumen Technologies is 14,651MM, an increase of 3.84%. The projected annual non-GAAP EPS is 0.72.
What is the Fund Sentiment?
There are 699 funds or institutions reporting positions in Lumen Technologies. This is an decrease of 28 owner(s) or 3.85% in the last quarter. Average portfolio weight of all funds dedicated to LUMN is 0.06%, an increase of 13.32%. Total shares owned by institutions increased in the last three months by 1.23% to 715,595K shares. 
The put/call ratio of LUMN is 1.27, indicating a bearish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 47,061K shares representing 4.64% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 31,962K shares representing 3.15% ownership of the company. In its prior filing, the firm reported owning 31,779K shares , representing an increase of 0.57%. The firm decreased its portfolio allocation in LUMN by 21.84% over the last quarter.
Charles Schwab Investment Management holds 30,809K shares representing 3.04% ownership of the company. In its prior filing, the firm reported owning 26,304K shares , representing an increase of 14.62%. The firm decreased its portfolio allocation in LUMN by 9.21% over the last quarter.
First Trust Advisors holds 27,822K shares representing 2.74% ownership of the company. In its prior filing, the firm reported owning 26,890K shares , representing an increase of 3.35%. The firm decreased its portfolio allocation in LUMN by 18.07% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 25,785K shares representing 2.54% ownership of the company. In its prior filing, the firm reported owning 25,687K shares , representing an increase of 0.38%. The firm decreased its portfolio allocation in LUMN by 21.16% 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.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
