Shares of Lumos Networks Corp. (NASDAQ:LMOS) have received an average recommendation of “Buy” from the eight ratings firms that are currently covering the company. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $17.90.
A number of equities analysts recently issued reports on the company. BTIG Research assumed coverage on Lumos Networks Corp. in a research note on Thursday, August 11th. They issued a “buy” rating and a $17.50 target price for the company. Jefferies Group upgraded Lumos Networks Corp. from a “hold” rating to a “buy” rating and raised their target price for the stock from $15.00 to $16.00 in a research note on Thursday, August 4th. Finally, Drexel Hamilton set a $18.00 target price on Lumos Networks Corp. and gave the stock a “buy” rating in a research note on Wednesday, August 31st.
Shares of Lumos Networks Corp. (NASDAQ:LMOS) opened at 14.00 on Thursday. The company has a 50 day moving average price of $13.84 and a 200-day moving average price of $12.74. The stock has a market capitalization of $328.48 million, a P/E ratio of 144.33 and a beta of 0.18. Lumos Networks Corp. has a 52-week low of $10.18 and a 52-week high of $14.61.
Lumos Networks Corp. (NASDAQ:LMOS) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02. Lumos Networks Corp. had a return on equity of 1.74% and a net margin of 1.12%. The firm earned $52.40 million during the quarter, compared to analyst estimates of $51.74 million. During the same quarter in the prior year, the business posted $0.14 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year.
In other Lumos Networks Corp. news, EVP Joseph E. Jr. Mccourt sold 2,000 shares of the stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $13.96, for a total transaction of $27,920.00. Following the sale, the executive vice president now directly owns 47,887 shares of the company’s stock, valued at approximately $668,502.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.70% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of Lumos Networks Corp. during the second quarter valued at $124,000. Louisiana State Employees Retirement System increased its stake in shares of Lumos Networks Corp. by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 10,300 shares of the company’s stock valued at $125,000 after buying an additional 100 shares in the last quarter. Investors Capital Advisory Services bought a new stake in shares of Lumos Networks Corp. during the second quarter valued at $138,000. Thrivent Financial for Lutherans increased its stake in shares of Lumos Networks Corp. by 8.1% in the second quarter. Thrivent Financial for Lutherans now owns 11,390 shares of the company’s stock valued at $138,000 after buying an additional 850 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Lumos Networks Corp. by 2.5% in the second quarter. Arizona State Retirement System now owns 12,080 shares of the company’s stock valued at $146,000 after buying an additional 300 shares in the last quarter. 85.16% of the stock is currently owned by institutional investors.
Lumos Networks Corp. Company Profile
Lumos Networks Corp. is a fiber-based bandwidth infrastructure and service provider in the Mid-Atlantic region with a network of long-haul fiber, metro Ethernet and Ethernet rings located primarily in Virginia and West Virginia, and portions of Maryland, Pennsylvania, Ohio and Kentucky. The Company serves carrier, business and residential customers over its fiber network offering data, voice and Internet protocol (IP) services.
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