Level 3 Communications Inc. (LVLT) Coverage Initiated by Analysts at Barclays PLC
Research analysts at Barclays PLC started coverage on shares of Level 3 Communications Inc. (NYSE:LVLT) in a research note issued on Tuesday, The Fly reports. The firm set an “overweight” rating on the stock.
Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research raised Level 3 Communications from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Tuesday, July 26th. Citigroup Inc. reissued a “buy” rating and issued a $66.00 price objective on shares of Level 3 Communications in a research note on Friday, July 15th. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Level 3 Communications in a research note on Wednesday, July 6th. DA Davidson reissued a “buy” rating and issued a $68.00 price objective on shares of Level 3 Communications in a research note on Wednesday, July 6th. Finally, Jefferies Group reduced their price objective on Level 3 Communications from $67.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Level 3 Communications presently has a consensus rating of “Buy” and an average price target of $60.50.
Shares of Level 3 Communications (NYSE:LVLT) opened at 46.09 on Tuesday. The company 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 52 week low of $41.73 and a 52 week high of $57.59. The stock’s 50 day moving average price is $47.70 and its 200-day moving average price is $50.99.
Level 3 Communications (NYSE:LVLT) last released its earnings results on Wednesday, July 27th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.44 by $0.09. Level 3 Communications had a return on equity of 7.14% and a net margin of 43.75%. The business earned $2.06 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter last year, the firm posted $0.42 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. Analysts expect that Level 3 Communications will post $1.66 EPS for the current year.
In other Level 3 Communications news, SVP Eric Mortensen sold 595 shares of the business’s stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $46.17, for a total value of $27,471.15. Following the sale, the senior vice president now directly owns 69,894 shares in the company, valued at $3,227,005.98. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Andrew Crouch sold 4,200 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $50.34, for a total value of $211,428.00. Following the completion of the sale, the insider now owns 130,905 shares in the company, valued at $6,589,757.70. The disclosure for this sale can be found here. 0.49% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Global X Management Co. LLC raised its stake 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 valued at $101,000 after buying an additional 530 shares during the last quarter. Feltz Wealth PLAN Inc. bought a new stake in Level 3 Communications during the second quarter worth about $103,000. Hall Laurie J Trustee raised its stake 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 worth $104,000 after buying an additional 250 shares during the last quarter. Bellwether Investment Group LLC bought a new stake in Level 3 Communications during the second quarter worth about $105,000. Finally, Jackson Grant Investment Advisers Inc. bought a new stake in Level 3 Communications during the second quarter worth about $110,000.
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.
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