Level 3 Communications Inc. (LVLT) Receives $60.81 Consensus Target Price from Brokerages
Level 3 Communications Inc. (NYSE:LVLT) has earned an average recommendation of “Hold” from the twenty-two research firms that are presently covering the stock. Fourteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $60.81.
Several research analysts have commented on LVLT shares. Zacks Investment Research downgraded shares of Level 3 Communications from a “hold” rating to a “strong sell” rating in a research report on Monday, September 26th. Wells Fargo & Co. cut shares of Level 3 Communications from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 1st. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Level 3 Communications in a research note on Monday, September 12th. BTIG Research cut shares of Level 3 Communications from a “buy” rating to a “neutral” rating in a research note on Monday, October 31st. Finally, FBR & Co boosted their target price on shares of Level 3 Communications from $55.00 to $66.50 and gave the stock a “market perform” rating in a research note on Tuesday, November 1st.
ILLEGAL ACTIVITY NOTICE: This news story was published by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are accessing this news story on another website, it was illegally copied and reposted in violation of United States and international copyright and trademark legislation. The original version of this news story can be viewed at https://www.thecerbatgem.com/2016/11/26/level-3-communications-inc-lvlt-receives-60-81-consensus-target-price-from-brokerages.html.
In related news, EVP John Michael Ryan sold 6,000 shares of the business’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $49.61, for a total value of $297,660.00. Following the transaction, the executive vice president now owns 109,956 shares in the company, valued at $5,454,917.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Hector Alonso sold 10,000 shares of the business’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $56.78, for a total transaction of $567,800.00. Following the completion of the transaction, the insider now owns 112,228 shares in the company, valued at approximately $6,372,305.84. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. 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. 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 purchased a new position in Level 3 Communications during the second quarter valued at about $105,000. Capital Guardian Trust Co. raised its position in Level 3 Communications by 105.0% in the second quarter. Capital Guardian Trust Co. now owns 2,550 shares of the company’s stock valued at $131,000 after buying an additional 1,306 shares during the last quarter. Finally, Feltz Wealth PLAN Inc. purchased a new position in Level 3 Communications during the second quarter valued at about $103,000.
Shares of Level 3 Communications (NYSE:LVLT) opened at 56.79 on Wednesday. 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 $51.19 and its 200 day moving average price is $50.98. The firm has a market cap of $20.44 billion, a P/E ratio of 5.49 and a beta of 1.60.
Level 3 Communications (NYSE:LVLT) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.43 by $0.04. Level 3 Communications had a net margin of 45.64% and a return on equity of 6.18%. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the prior year, the firm earned $0.48 earnings per share. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities analysts anticipate that Level 3 Communications will post $1.59 earnings per share for the current year.
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.
Receive News & Stock Ratings for Level 3 Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Level 3 Communications Inc. and related stocks with our FREE daily email newsletter.