Shares of Lumen Technologies, Inc. (NYSE:LUMN – Get Free Report) gapped down before the market opened on Wednesday following a weaker than expected earnings announcement. The stock had previously closed at $1.19, but opened at $1.13. Lumen Technologies shares last traded at $1.17, with a volume of 2,874,906 shares trading hands.
The technology company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). Lumen Technologies had a positive return on equity of 4.85% and a negative net margin of 70.74%. The firm had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same period last year, the company posted $0.10 EPS. The business’s revenue was down 12.0% on a year-over-year basis.
Insider Activity at Lumen Technologies
In related news, Director T Michael Glenn purchased 50,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were bought at an average cost of $1.47 per share, with a total value of $73,500.00. Following the acquisition, the director now owns 272,019 shares of the company’s stock, valued at approximately $399,867.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Lumen Technologies news, Director T Michael Glenn acquired 50,000 shares of Lumen Technologies stock in a transaction that occurred on Monday, February 26th. The shares were bought at an average price of $1.47 per share, with a total value of $73,500.00. Following the completion of the purchase, the director now directly owns 272,019 shares in the company, valued at approximately $399,867.93. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Fowler bought 33,500 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were bought at an average cost of $1.68 per share, for a total transaction of $56,280.00. Following the completion of the acquisition, the director now directly owns 216,538 shares in the company, valued at approximately $363,783.84. The disclosure for this purchase can be found here. Insiders have acquired 113,500 shares of company stock valued at $174,780 over the last ninety days. 1.68% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Lumen Technologies Stock Performance
The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -0.12 and a beta of 1.10. The company has a 50 day moving average price of $1.50 and a 200 day moving average price of $1.48. The company has a debt-to-equity ratio of 47.56, a quick ratio of 1.35 and a current ratio of 1.35.
Lumen Technologies Company Profile
Lumen Technologies, Inc, a facilities-based technology and communications company, provides various integrated products and services to business and residential customers in the United States and internationally. The company operates in two segments, Business and Mass Markets. It offers dark fiber, edge cloud services, internet protocol, managed security, software-defined wide area networks, secure access service edge, unified communications and collaboration, and optical wavelengths services; ethernet and VPN data networks services; and legacy services to manage cash flow, including time division multiplexing voice, private line, and other legacy services, as well as sells communication equipment, and IT solutions.
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