Level 3 Communications Inc. (NYSE:LVLT)‘s stock had its “conviction-buy” rating reaffirmed by analysts at Goldman Sachs Group Inc. in a research report issued to clients and investors on Thursday. They currently have a $55.00 price objective on the stock, down from their previous price objective of $64.00. Goldman Sachs Group Inc.’s price objective points to a potential upside of 19.18% from the company’s current price.

Other equities analysts also recently issued reports about the company. Wells Fargo & Co. reaffirmed an “overweight” rating and issued a $69.00 price objective (up from $61.00) on shares of Level 3 Communications in a research note on Monday, July 18th. Stephens reaffirmed an “overweight” rating and issued a $63.00 price objective on shares of Level 3 Communications in a research note on Friday, July 15th. Zacks Investment Research downgraded Level 3 Communications from a “hold” rating to a “strong sell” rating in a research note on Monday, September 26th. JPMorgan Chase & Co. downgraded Level 3 Communications from an “overweight” rating to a “neutral” rating and set a $60.00 price objective for the company. in a research note on Thursday, July 28th. Finally, Moffett Nathanson raised Level 3 Communications from a “neutral” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Wednesday, August 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $61.13.

Analyst Recommendations for Level 3 Communications (NYSE:LVLT)

Shares of Level 3 Communications (NYSE:LVLT) opened at 46.15 on Thursday. The firm has a 50-day moving average price of $47.79 and a 200-day moving average price of $51.06. Level 3 Communications has a 52-week low of $41.73 and a 52-week high of $57.59. The stock has a market cap of $16.59 billion, a P/E ratio of 4.64 and a beta of 1.75.

Level 3 Communications (NYSE:LVLT) last issued its earnings results on Wednesday, July 27th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.09. The business earned $2.06 billion during the quarter, compared to the consensus estimate of $2.08 billion. Level 3 Communications had a return on equity of 7.14% and a net margin of 43.75%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 EPS. On average, analysts anticipate that Level 3 Communications will post $1.66 EPS for the current fiscal year.

In related news, EVP John Michael Ryan sold 2,170 shares of the stock in a transaction on 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 approximately $5,216,932.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Eric Mortensen sold 595 shares of the stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $46.17, for a total value of $27,471.15. Following the completion of the transaction, the senior vice president now directly owns 69,894 shares in the company, valued at $3,227,005.98. The disclosure for this sale can be found here. 0.49% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of LVLT. Brahman Capital Corp. purchased a new position in shares of Level 3 Communications during the second quarter valued at $240,963,000. Carmignac Gestion raised its position in Level 3 Communications by 15.0% in the second quarter. Carmignac Gestion now owns 7,422,726 shares of the company’s stock valued at $382,196,000 after buying an additional 969,789 shares during the period. Locust Wood Capital Advisers LLC bought a new position in Level 3 Communications during the second quarter valued at approximately $36,812,000. BlackRock Institutional Trust Company N.A. raised its position in Level 3 Communications by 9.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 8,053,639 shares of the company’s stock valued at $414,682,000 after buying an additional 691,962 shares during the period. Finally, Teacher Retirement System of Texas raised its position in Level 3 Communications by 140.5% in the second quarter. Teacher Retirement System of Texas now owns 982,019 shares of the company’s stock valued at $50,564,000 after buying an additional 573,728 shares during the period.

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.

5 Day Chart for NYSE:LVLT

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