Level 3 Communications Inc. (NYSE:LVLT) has been assigned an average rating of “Buy” from the twenty-one ratings firms that are presently covering the company. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $60.08.
Several equities analysts recently weighed in on the company. Zacks Investment Research downgraded Level 3 Communications from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. Jefferies Group reaffirmed a “buy” rating on shares of Level 3 Communications in a research note on Saturday, August 6th. Morgan Stanley reaffirmed an “overweight” rating on shares of Level 3 Communications in a research note on Wednesday, June 29th. DA Davidson reissued a “buy” rating and set a $68.00 price target on shares of Level 3 Communications in a research report on Wednesday, July 6th. Finally, Wells Fargo & Co. reissued an “overweight” rating and set a $69.00 price target (up previously from $61.00) on shares of Level 3 Communications in a research report on Monday, July 18th.
In other Level 3 Communications news, EVP John Michael Ryan sold 2,170 shares of the firm’s stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $45.55, for a total value of $98,843.50. Following the transaction, the executive vice president now directly owns 114,532 shares of the company’s stock, valued at $5,216,932.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sunit S. Patel sold 6,170 shares of the firm’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $45.81, for a total value of $282,647.70. Following the completion of the transaction, the vice president now directly owns 462,286 shares in the company, valued at $21,177,321.66. The disclosure for this sale can be found here. 0.49% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farmers & Merchants Investments Inc. raised its position in Level 3 Communications by 23.6% in the third quarter. Farmers & Merchants Investments Inc. now owns 10,462 shares of the company’s stock valued at $485,000 after buying an additional 2,000 shares during the period. First Quadrant L P CA raised its position in Level 3 Communications by 74.9% in the third quarter. First Quadrant L P CA now owns 11,214 shares of the company’s stock valued at $520,000 after buying an additional 4,804 shares during the period. MAI Capital Management bought a new position in Level 3 Communications during the third quarter valued at approximately $247,000. National Pension Service raised its position in Level 3 Communications by 9.3% in the third quarter. National Pension Service now owns 234,923 shares of the company’s stock valued at $10,896,000 after buying an additional 20,020 shares during the period. Finally, Private Bank & Trust Co. bought a new position in Level 3 Communications during the third quarter valued at approximately $424,000.
Level 3 Communications (NYSE:LVLT) traded up 1.073% during midday trading on Wednesday, hitting $47.575. The company had a trading volume of 1,647,386 shares. The firm has a market cap of $17.10 billion, a price-to-earnings ratio of 4.780 and a beta of 1.75. The stock has a 50 day moving average of $47.63 and a 200 day moving average of $50.95. Level 3 Communications has a 52-week low of $41.73 and a 52-week high of $57.59.
Level 3 Communications (NYSE:LVLT) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.09. Level 3 Communications had a return on equity of 7.14% and a net margin of 43.75%. The firm earned $2.06 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period last year, the business posted $0.42 EPS. Level 3 Communications’s quarterly revenue was up .9% on a year-over-year basis. On average, analysts anticipate that Level 3 Communications will post $1.66 EPS for the current year.
Level 3 Communications Company Profile
Level 3 Communications, Inc is a provider of a range of integrated communications services. The Company’s operating segments include North America, EMEA and Latin America. The North America includes operations in Atlanta, Georgia; Littleton, Colorado; Miami, Florida; Montreal, Canada; New York, New York; Phoenix, Arizona; Pittsburgh, Pennsylvania; Southfield, Michigan, and Tulsa, Oklahoma.
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