Barclays PLC assumed coverage on shares of Level 3 Communications Inc. (NYSE:LVLT) in a research report issued to clients and investors on Tuesday. The brokerage set an “overweight” rating on the stock.

A number of other research firms also recently weighed in on LVLT. Pacific Crest began coverage on shares of Level 3 Communications in a research note on Monday, July 25th. They set a “sector weight” rating and a $54.00 price target on the stock. Morgan Stanley reiterated an “overweight” rating on shares of Level 3 Communications in a research note on Sunday, July 24th. Wells Fargo & Co. reiterated an “overweight” rating and set a $69.00 price target (up previously from $61.00) on shares of Level 3 Communications in a research note on Monday, July 18th. Stephens reiterated an “overweight” rating and set a $63.00 price target on shares of Level 3 Communications in a research note on Friday, July 15th. Finally, Citigroup Inc. reiterated a “buy” rating and set a $66.00 price target on shares of Level 3 Communications in a research note on Friday, July 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $60.50.

Analyst Recommendations for Level 3 Communications (NYSE:LVLT)

Shares of Level 3 Communications (NYSE:LVLT) opened at 46.09 on Tuesday. The company has a 50 day moving average of $47.70 and a 200-day moving average of $50.99. The firm has a market cap of $16.57 billion, a PE ratio of 4.63 and a beta of 1.75. Level 3 Communications has a 12-month low of $41.73 and a 12-month high of $57.59.

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

In other news, EVP John Michael Ryan sold 6,000 shares of the business’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $49.61, for a total transaction of $297,660.00. Following the completion of the transaction, the executive vice president now directly owns 109,956 shares in the company, valued at approximately $5,454,917.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Eric Mortensen sold 595 shares of the business’s stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $46.17, for a total value of $27,471.15. Following the transaction, the senior vice president now owns 69,894 shares of the company’s stock, valued at $3,227,005.98. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.

Several institutional investors have recently bought and sold shares of LVLT. Global X Management Co. LLC raised its position in Level 3 Communications by 37.0% in the second quarter. Global X Management Co. LLC now owns 1,961 shares of the company’s stock valued at $101,000 after buying an additional 530 shares during the last quarter. Feltz Wealth PLAN Inc. bought a new position in Level 3 Communications during the second quarter valued at about $103,000. Hall Laurie J Trustee raised its position in Level 3 Communications by 14.6% in the second quarter. Hall Laurie J Trustee now owns 1,963 shares of the company’s stock valued at $104,000 after buying an additional 250 shares during the last quarter. Bellwether Investment Group LLC bought a new position in Level 3 Communications during the second quarter valued at about $105,000. Finally, Jackson Grant Investment Advisers Inc. bought a new position in Level 3 Communications during the second quarter valued at about $110,000.

About Level 3 Communications

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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