Level 3 Communications Inc. (NYSE:LVLT) was downgraded by investment analysts at Barclays PLC from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Wednesday. They currently have a $57.00 price target on the stock, up from their previous price target of $54.00. Barclays PLC’s price target suggests a potential upside of 3.71% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. Goldman Sachs Group Inc. reiterated a “conviction-buy” rating and set a $55.00 target price (down previously from $64.00) on shares of Level 3 Communications in a report on Thursday, October 13th. JPMorgan Chase & Co. upgraded shares of Level 3 Communications from a “neutral” rating to an “overweight” rating and set a $55.00 price objective for the company in a research note on Friday, October 14th. Zacks Investment Research downgraded shares of Level 3 Communications from a “hold” rating to a “strong sell” rating in a research note on Monday, September 26th. William Blair downgraded shares of Level 3 Communications from an “outperform” rating to a “market perform” rating in a research note on Monday, October 31st. Finally, Moffett Nathanson upgraded shares of 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. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Level 3 Communications presently has a consensus rating of “Hold” and a consensus target price of $61.31.

Analyst Recommendations for Level 3 Communications (NYSE:LVLT)

Level 3 Communications (NYSE:LVLT) opened at 54.96 on Wednesday. The company has a market capitalization of $19.78 billion, a price-to-earnings ratio of 5.32 and a beta of 1.60. Level 3 Communications has a 52 week low of $41.73 and a 52 week high of $57.59. The company’s 50-day moving average price is $49.58 and its 200 day moving average price is $50.80.

Level 3 Communications (NYSE:LVLT) last released its earnings results on Thursday, November 3rd. The company reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.04. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.07 billion. Level 3 Communications had a return on equity of 6.18% and a net margin of 45.64%. Level 3 Communications’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the company posted $0.48 EPS. On average, analysts predict that Level 3 Communications will post $1.60 EPS for the current year.

In related news, insider Andrew Crouch sold 8,500 shares of Level 3 Communications stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $50.00, for a total value of $425,000.00. Following the transaction, the insider now directly owns 118,105 shares of the company’s stock, valued at $5,905,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Michael Ryan sold 2,170 shares of Level 3 Communications stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $45.55, for a total transaction of $98,843.50. Following the completion of the transaction, the executive vice president now directly owns 114,532 shares in the company, valued at $5,216,932.60. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Global X Management Co. LLC boosted its position in shares of 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 worth $101,000 after buying an additional 530 shares during the period. Feltz Wealth PLAN Inc. purchased a new position in shares of Level 3 Communications during the second quarter worth about $103,000. Hall Laurie J Trustee boosted its position in shares of Level 3 Communications by 14.6% in the second quarter. Hall Laurie J Trustee now owns 1,963 shares of the company’s stock worth $104,000 after buying an additional 250 shares during the period. Bellwether Investment Group LLC purchased a new position in shares of Level 3 Communications during the second quarter worth about $105,000. Finally, Jackson Grant Investment Advisers Inc. purchased a new position in shares of Level 3 Communications during the second quarter worth 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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