Level 3 Communications, Inc. (NYSE:LVLT) had its price target lowered by Barclays PLC from $59.00 to $53.00 in a report released on Wednesday. The brokerage currently has an equal weight rating on the technology company’s stock.
Several other equities analysts have also commented on LVLT. BidaskClub upgraded shares of Level 3 Communications from a buy rating to a strong-buy rating in a report on Friday, June 16th. Zacks Investment Research lowered shares of Level 3 Communications from a hold rating to a sell rating in a report on Wednesday, July 5th. Finally, UBS AG restated a buy rating and issued a $68.00 price objective (down from $71.00) on shares of Level 3 Communications in a report on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $61.12.
Level 3 Communications (NYSE:LVLT) traded up 0.04% during mid-day trading on Wednesday, reaching $55.08. 952,088 shares of the company were exchanged. The company has a market capitalization of $19.98 billion, a price-to-earnings ratio of 31.33 and a beta of 1.21. Level 3 Communications has a 1-year low of $44.01 and a 1-year high of $64.61. The company has a 50 day moving average of $53.76 and a 200-day moving average of $57.75.
Level 3 Communications (NYSE:LVLT) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.39 by $0.03. Level 3 Communications had a net margin of 7.85% and a return on equity of 5.80%. The firm had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period in the prior year, the business posted $0.53 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities research analysts forecast that Level 3 Communications will post $1.45 EPS for the current year.
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A number of institutional investors and hedge funds have recently made changes to their positions in LVLT. Russell Investments Group Ltd. increased its stake in Level 3 Communications by 24.1% during the 1st quarter. Russell Investments Group Ltd. now owns 31,535 shares of the technology company’s stock worth $1,805,000 after buying an additional 6,122 shares during the period. UBS Asset Management Americas Inc. increased its stake in Level 3 Communications by 13.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 757,440 shares of the technology company’s stock worth $43,341,000 after buying an additional 87,123 shares during the period. Ameriprise Financial Inc. increased its stake in Level 3 Communications by 41.0% during the 1st quarter. Ameriprise Financial Inc. now owns 248,233 shares of the technology company’s stock worth $13,987,000 after buying an additional 72,161 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in Level 3 Communications by 11.6% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 8,743 shares of the technology company’s stock worth $500,000 after buying an additional 907 shares during the period. Finally, Nordea Investment Management AB increased its stake in Level 3 Communications by 59.4% during the 1st quarter. Nordea Investment Management AB now owns 14,736 shares of the technology company’s stock worth $843,000 after buying an additional 5,494 shares during the period. 98.83% of the stock is currently owned by hedge funds and other institutional investors.
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.
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