With shares of the company formerly known as CenturyLink ending the day at $3.95, they posted their lowest close since Aug. This marks the second consecutive sharp post-earnings stock plunge for Lumen, as shares tumbled 17.7% after the company delivered results and eliminated its dividend in November. The stock fell 20.8% Wednesday, for its worst single-day percentage decline since Jan. She also noted that “2023 will be a year of rapid change for Lumen.” To read this article on click here.“We need to do a lot of things, some basic and some quite complex, to position ourselves to take advantage of the opportunity that lies before us,” Chief Executive Kathleen Johnson said on the earnings call. (NTGR) : Free Stock Analysis Reportīlackbaud, Inc. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Shares of WTS jumped 40.9% in the past year. WTS’ earnings outpaced the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 11.8%. The Zacks Consensus Estimate for Watts Water Technologies 2023 EPS has improved by 3.9% in the past 60 days to $8.08. Shares of NTGR were down 19.4% in the past year. ![]() NTGR’s earnings outpaced the Zacks Consensus Estimate in three of the last four quarters while missing in the remaining quarter. The Zacks Consensus for NETGEAR’s 2023 EPS has remained unchanged in the past 30 days at a loss of 9 cents. Shares of BLKB surged 49.8% in the past year. BLKB’s long-term earnings growth rate is 23.4%.īlackbaud’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 10.6%. The Zacks Consensus Estimate for Blackbaud’s 2023 EPS improved 1.8% in the past 60 days to $3.86. You can see the complete list of today’s Zacks #1 Rank stocks here. While Watts Water Technologies sports a Zacks Rank #1 (Strong Buy), Blackbaud and NETGEAR, each carry a Zacks Rank #2 (Buy). Some better-ranked stocks worth consideration in the broader technology space are Blackbaud BLKB, NETGEAR NTGR and Watts Water Technologies WTS. Image Source: Zacks Investment Research Stocks to Consider It also sold a few of its content delivery network (CDN) service contracts to Akamai Technologies. ![]() The company offloaded its Europe, Middle East and Asia (EMEA) business to Colt Technology Services for $1.8 billion in November 2023. It also completed the $7.5 billion divestiture of its 20-state ILEC business in October 2022. In August 2022, it sold its Latin American business to Stonepeak for $2.7 billion. LUMN has undertaken a business transformation initiative whereby it has shed many non-core businesses to focus only on its robust growth opportunities. We expect revenues for 2023 to decline 17.3% year over year. It is currently in the middle of a time-consuming business transformation initiative. Lumen’s performance is affected by weakness in Business, Enterprise Channels and Mass markets business segments. QuoteĪs of Sep 30, 2023, the company had $311 million in cash and cash equivalents with $19,740 million of long-term debt compared with the respective figures of $411 million and $19,899 million as of Jun 30, 2023. price-consensus-chart | Lumen Technologies, Inc. The deal will also provide Lumen with another $1.2 billion of fresh financing. In November 2023, the firm announced that it inked an agreement with a group of creditors holding more than $7 billion of the outstanding debt (of the company and its subsidiaries) to extend the maturities of the debt instruments. The discussions also include the topic of bank lenders receiving better priority in the line for repayment. LUMN will require all banks to sign on to the restructuring deal for it to be finalized. ![]() Per sources, Lumen has been discussing the extension of the deadline on its credit line with banks in the past few weeks. Creditors have agreed to the extension, but the reprieve has not been finalized yet. ![]() There was no official word on the matter from the company.Ĭiting sources familiar with the matter, Bloomberg noted that Lumen wants the deadline to be extended by one month and close on Jan 31, 2024. Lumen Technologies LUMN is requesting more time from creditors to conclude its debt restructuring deal, per a report from Bloomberg.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |