Yahoo Finance Lumen (LUMN) Partners With Microsoft to Boost Hybrid Work
Lumen Technologies LUMN recently announced a new collaboration with Microsoft to modernize hybrid workforce for business organizations. The companies will be launching Operator Connect for Microsoft Teams Phone solution to provide easy connection and collaboration capabilities for people working in hybrid mode.
Operator Connect provides users with an easy calling feature in Microsoft Teams by eliminating the need for on-premises equipment. As a result, customers will be able to utilize their existing investment in Teams without any additional set up for on-premises solutions. It also offers easy customization functionalities.
With the upcoming launch, Lumen is reinvigorating its partnering strategy to enable clients to select products that will drive optimum business outcomes for them.
This particular collaboration is part of Lumen’s growth strategy as announced during its Investor Day 2023 held recently. The first element of the strategy involves securing LUMN's existing customer base by making proactive investments to enhance overall customer experience. It aims to achieve this by leveraging strategic partnerships to aid customers in modernizing their infrastructure.
Lumen Technologies, Inc. Price and Consensus
Lumen Technologies, Inc. price-consensus-chart | Lumen Technologies, Inc. Quote
Also, this will benefit customers in transitioning from traditional voice communication technologies to more advanced options such as Voice over Internet Protocol, Unified Communications and Collaboration, Virtual Private Networks and Voice Migration.
Apart from that, Lumen's strategy revolves around driving commercial excellence. This entails optimizing the productivity of LUMN's sales and channel operations, as well as capitalizing on its existing capabilities.
It is also focused on innovation for growth. The company aims to digitize customers, employees and partners’ experiences to foster stronger connections throughout its business ecosystem.
Lumen also outlined its financial targets at the Investor Day. Management expects revenues to be $14.2 billion and $14.8 billion in 2023 and 2027, respectively, compared with $17.5 billion in 2022.
It projects adjusted EBITDA to be $4.7 billion and $5.3 billion in 2023 and 2027, respectively, compared with $6.8 billion in 2022. Free cash flow is anticipated to be in the range of $0-200 million in 2023 and $300-$500 million in 2027, compared with $2.3 billion in 2022.
Lumen currently carries a Zacks Rank #3 (Hold). Shares of the company have lost 83.9% compared with the sub-industry’s decline of 6.8% in the past year.
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Stocks to Consider
Some better-ranked stocks in the broader technology space are Dropbox DBX, Badger Meter BMI and Blackbaud BLKB. All stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Dropbox’s 2023 earnings has increased 10.1% in the past 60 days to $1.85 per share. The long-term earnings growth rate is anticipated to be 12.3%.
Dropbox’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 10.4%. Shares of DBX have gained 3% in the past year.
The Zacks Consensus Estimate for Badger Meter’s 2023 earnings has increased 4.7% in the past 60 days to $2.69 per share.
Badger Meter’s earnings beat the Zacks Consensus Estimate in all the last four quarters, the average being 5.3%. Shares of BMI have soared 90% in the past year.
The Zacks Consensus Estimate for Blackbaud’s 2023 earnings has increased 9.3% in the past 60 days to $3.75 per share.
Blackbaud’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average surprise being 10.4%. Shares of BLKB have improved 22.3% in the past year.
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