Level 3 Communications Inc. (NYSE:LVLT) was downgraded by equities research analysts at Moffett Nathanson from a “buy” rating to a “neutral” rating in a research note issued to investors on Tuesday.

Several other brokerages have also recently issued reports on LVLT. JPMorgan Chase & Co. cut Level 3 Communications from an “overweight” rating to a “neutral” rating and set a $60.00 target price on the stock. in a research report on Thursday, July 28th. Goldman Sachs Group Inc. reaffirmed a “conviction-buy” rating and set a $55.00 target price (down previously from $64.00) on shares of Level 3 Communications in a research report on Thursday, October 13th. Royal Bank Of Canada lowered Level 3 Communications from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $58.00 to $63.00 in a report on Tuesday, November 1st. Zacks Investment Research upgraded Level 3 Communications from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Tuesday, July 26th. Finally, FBR & Co lifted their price target on Level 3 Communications from $55.00 to $66.50 and gave the stock a “market perform” rating in a report on Tuesday, November 1st. Fourteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Level 3 Communications 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 56.57 on Tuesday. The firm has a 50-day moving average price of $50.73 and a 200-day moving average price of $50.94. Level 3 Communications has a one year low of $41.73 and a one year high of $57.59. The firm has a market capitalization of $20.36 billion, a price-to-earnings ratio of 5.47 and a beta of 1.60.

Level 3 Communications (NYSE:LVLT) last announced its earnings results on Thursday, November 3rd. The company reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.04. The company had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Level 3 Communications had a net margin of 45.64% and a return on equity of 6.18%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.48 EPS. Analysts expect that Level 3 Communications will post $1.59 EPS for the current year.

In other news, insider Hector Alonso sold 10,000 shares of the company’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $56.78, for a total value of $567,800.00. Following the completion of the transaction, the insider now directly owns 112,228 shares in the company, valued at approximately $6,372,305.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Michael Ryan sold 2,170 shares of the company’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 completion of the transaction, the executive vice president now owns 114,532 shares of the company’s stock, valued at $5,216,932.60. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. LPL Financial LLC boosted its position in Level 3 Communications by 72.4% in the first quarter. LPL Financial LLC now owns 30,844 shares of the company’s stock worth $1,585,000 after buying an additional 12,948 shares during the last quarter. Panagora Asset Management Inc. boosted its position in Level 3 Communications by 42.0% in the first quarter. Panagora Asset Management Inc. now owns 108,532 shares of the company’s stock worth $5,736,000 after buying an additional 32,098 shares during the last quarter. Arizona State Retirement System boosted its position in Level 3 Communications by 1.6% in the first quarter. Arizona State Retirement System now owns 78,400 shares of the company’s stock worth $4,143,000 after buying an additional 1,200 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in Level 3 Communications by 7.4% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 22,835 shares of the company’s stock worth $1,207,000 after buying an additional 1,566 shares during the last quarter. Finally, Quantum Capital Management purchased a new position in Level 3 Communications during the first quarter worth about $7,772,000.

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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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