Lumen Technologies Stock Report for February 23rd

NYSE:LUMN Lumen Technologies

Current Price: $4.68
-0.02 (-0.32%)
(As of 02/21/2025 03:59 PM ET)

30 Day Performance

-21.07%

90 Day Performance

-39.83%

1 Year Performance

211.67%

Market Capitalization: $4.74B
Price Target: $4.78
Net Income: -$55M

About Lumen Technologies

Lumen Technologies Inc. is a forward-thinking, technology-based communication, security solutions and cloud-based services provider. Lumen was first known as CenturyLink, founded in 1930 by F.E. Hogan, Sr., and has since become one of the largest telecommunications companies in the United States.

Headquartered in Monroe, Louisiana, Lumen Technologies offers network services, communications, security, cloud solutions, voice and managed services to global enterprise customers across North America, Europe, the Middle East, Latin America, Asia and Africa Pacific. The company has a long history of acquisitions and mergers, the most recent being its acquisition of Level 3 Communications in 2016.

Since its inception, Lumen Technologies has stood out as a leader in the telecommunications industry. In 1947, Clarke Williams purchased the Marion Telephone Company, and in 1967, the company served three states with 10,000 access lines. In 1971, the company was renamed Century Telephone Enterprises and listed on the New York Stock Exchange under the ticker symbol CTL.

On September 14, 2020, CenturyLink announced it was changing its name to Lumen Technologies Inc. On August 3, 2021, Lumen announced it had agreed to sell its Incumbent Local Exchange Carrier (ILEC) operations in 20 states to Apollo Global Management for $7.5 billion. An ILEC is a traditional telephone company serving a particular geographic area for an extended period. They typically own and operate the local phone networks and provide local telephone and data services. This deal closed in October 2022, and the product rebranded as Brightspeed. Kate Johnson became the CEO and board member on February 7, 2023.

Lumen Technologies Inc. is still a strong contender in the telecommunications industry, having achieved substantial success through acquisitions and mergers over the years. With new CEO Johnson at the helm, the company is well-positioned to continue its growth trajectory while providing the latest in communications, security solutions and cloud-based services to global enterprise customers. Lumen Technologies’ strong history in the telecommunications industry paves the way for the potential for future growth.