LumenLUMN
About: With 450,000 route miles of fiber, Lumen Technologies is one of the United States' largest telecommunications carriers serving global enterprises. Its merger with Level 3 in 2017 and divestiture of much of its incumbent local exchange carrier, or ILEC, business in 2022 has shifted the company's operations away from its legacy consumer business and toward enterprises (now about 75% of revenue). Lumen offers businesses a full menu of communications services, providing colocation and data center services, data transportation, and end-user phone and internet service. On the consumer side, Lumen provides broadband and phone service across 37 states, where it has 4.5 million broadband customers.
Employees: 27,000
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
532% more capital invested
Capital invested by funds: $722M [Q2] → $4.56B (+$3.84B) [Q3]
63% more first-time investments, than exits
New positions opened: 122 | Existing positions closed: 75
11% more funds holding
Funds holding: 446 [Q2] → 493 (+47) [Q3]
8% more repeat investments, than reductions
Existing positions increased: 129 | Existing positions reduced: 120
0% more funds holding in top 10
Funds holding in top 10: 2 [Q2] → 2 (+0) [Q3]
1.6% less ownership
Funds ownership: 64.83% [Q2] → 63.23% (-1.6%) [Q3]
14% less call options, than puts
Call options by funds: $220M | Put options by funds: $255M
Research analyst outlook
4 Wall Street Analysts provided 1 year price targets over the past 3 months
4 analyst ratings
RBC Capital Bora Lee 100% 1-year accuracy 3 / 3 met price target | 28%downside $4.25 | Sector Perform Reiterated | 20 Dec 2024 |
Citigroup Michael Rollins 54% 1-year accuracy 13 / 24 met price target | 35%upside $8 | Neutral Maintained | 29 Nov 2024 |
TD Cowen Gregory Williams 53% 1-year accuracy 8 / 15 met price target | 1%upside $6 | Hold Maintained | 6 Nov 2024 |
Goldman Sachs James Schneider 58% 1-year accuracy 21 / 36 met price target | 16%downside $5 | Neutral Maintained | 6 Nov 2024 |
Financial journalist opinion
Based on 11 articles about LUMN published over the past 30 days
