Lumos Networks Corp (LMOS) is Upgraded by Jefferies to Buy

Lumos Networks Corp (LMOS) was Upgraded by Jefferies to ” Buy”. Earlier the firm had a rating of “Hold ” on the company shares. Jefferies advised their investors in a research report released on Aug 4, 2016.

On the company’s financial health, Lumos Networks Corp reported $0.05 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.03. The company had revenue of $52.40 million for the quarter, compared to analysts expectations of $51.74 million. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS.

Lumos Networks Corp closed down -0.5 points or -4.37% at $10.94 with 1,28,295 shares getting traded on Tusday. Post opening the session at $11.47, the shares hit an intraday low of $10.88 and an intraday high of $11.47 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

In a different news, on Aug 3, 2016, Mary Mcdermott (SVP Legal & Reg. Affairs & Sec) sold 1,000 shares at $11.64 per share price. According to the SEC, on Jul 20, 2016, Joseph E. Jr. Mccourt (EVP & Chief Revenue Officer) sold 80 shares at $12.50 per share price. On Mar 17, 2016, Diego B Anderson (SVP & General Manager) sold 3,000 shares at $12.16 per share price, according to the Form-4 filing with the securities and exchange commission.

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. The Company operates through three segments: Data Residential and Small Business (R&SB) and RLEC Access. The Data segment includes the Company’s enterprise data transport and Fiber to the Cell (FTTC) product groups. The R&SB segment includes legacy voice and IP services products targeted to its residential and small business customers. The RLEC Access segment provides carrier customers access to the Company’s network within the Company’s RLEC footprint and primarily includes switched access services.

Lumos Networks Corp

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