Level 3 Communications, Inc. (LVLT) Given Consensus Rating of “Hold” by Analysts

Level 3 Communications, Inc. (NYSE:LVLT) has been given a consensus rating of “Hold” by the seventeen research firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $61.73.

LVLT has been the subject of a number of recent research reports. BidaskClub cut Level 3 Communications from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Zacks Investment Research cut Level 3 Communications from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. UBS AG reiterated a “buy” rating and issued a $68.00 target price (down previously from $71.00) on shares of Level 3 Communications in a report on Tuesday, July 18th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $59.00 target price (down previously from $61.00) on shares of Level 3 Communications in a report on Friday, July 14th.

Shares of Level 3 Communications (NYSE LVLT) traded down 0.36% during mid-day trading on Thursday, reaching $52.74. The company’s stock had a trading volume of 1,224,300 shares. Level 3 Communications has a 12-month low of $45.88 and a 12-month high of $64.61. The stock has a market capitalization of $19.13 billion, a P/E ratio of 30.00 and a beta of 1.21. The company’s 50-day moving average price is $53.93 and its 200-day moving average price is $57.67.

Level 3 Communications (NYSE:LVLT) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.03. The business had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Level 3 Communications had a return on equity of 5.80% and a net margin of 7.85%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 EPS. On average, equities research analysts forecast that Level 3 Communications will post $1.45 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the stock. Sentry Investment Management LLC lifted its stake in shares of Level 3 Communications by 1.1% during the 2nd quarter. Sentry Investment Management LLC now owns 22,339 shares of the technology company’s stock worth $1,325,000 after acquiring an additional 234 shares during the last quarter. Toronto Dominion Bank lifted its stake in shares of Level 3 Communications by 18.8% during the 2nd quarter. Toronto Dominion Bank now owns 112,534 shares of the technology company’s stock worth $6,673,000 after acquiring an additional 17,847 shares during the last quarter. Banco BTG Pactual S.A. lifted its stake in shares of Level 3 Communications by 25.1% during the 2nd quarter. Banco BTG Pactual S.A. now owns 164,353 shares of the technology company’s stock worth $9,746,000 after acquiring an additional 33,000 shares during the last quarter. Bank of Nova Scotia lifted its stake in shares of Level 3 Communications by 13.3% during the 2nd quarter. Bank of Nova Scotia now owns 409,019 shares of the technology company’s stock worth $24,255,000 after acquiring an additional 48,109 shares during the last quarter. Finally, Alpine Global Management LLC lifted its stake in shares of Level 3 Communications by 274.6% during the 2nd quarter. Alpine Global Management LLC now owns 189,434 shares of the technology company’s stock worth $11,233,000 after acquiring an additional 138,864 shares during the last quarter. 98.81% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Level 3 Communications (NYSE:LVLT)

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