Level 3 Communications, Inc. (LVLT) Given “Hold” Rating at RBC Capital Markets
RBC Capital Markets reiterated their hold rating on shares of Level 3 Communications, Inc. (NYSE:LVLT) in a report released on Friday morning. The brokerage currently has a $61.00 price target on the stock.
Several other equities analysts have also recently issued reports on the company. Goldman Sachs Group, Inc. (The) restated a conviction-buy rating and set a $55.00 price objective (down from $64.00) on shares of Level 3 Communications in a research note on Thursday, October 13th. J P Morgan Chase & Co upgraded Level 3 Communications from a neutral rating to an overweight rating and set a $55.00 price objective on the stock in a research note on Friday, October 14th. Moffett Nathanson cut Level 3 Communications from a buy rating to a neutral rating in a research note on Tuesday, November 22nd. William Blair cut Level 3 Communications from an outperform rating to a market perform rating in a research note on Monday, October 31st. Finally, Oppenheimer Holdings, Inc. upgraded Level 3 Communications from a market perform rating to an outperform rating and set a $60.00 price objective on the stock in a research note on Friday, October 28th. Fourteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $61.81.
Level 3 Communications (NYSE:LVLT) traded down 0.33% on Friday, hitting $57.33. 2,139,045 shares of the stock were exchanged. The company has a market cap of $20.64 billion, a PE ratio of 30.66 and a beta of 1.48. The company’s 50-day moving average is $58.50 and its 200-day moving average is $52.93. Level 3 Communications has a 52 week low of $44.01 and a 52 week high of $60.12.
Level 3 Communications (NYSE:LVLT) last released its earnings results on Wednesday, February 8th. The company reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.25. The company earned $2.03 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Level 3 Communications had a return on equity of 6.34% and a net margin of 8.15%. On average, analysts predict that Level 3 Communications will post $1.64 earnings per share for the current year.
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In other news, EVP John Michael Ryan sold 4,908 shares of the firm’s stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $58.65, for a total transaction of $287,854.20. Following the transaction, the executive vice president now directly owns 127,362 shares of the company’s stock, valued at $7,469,781.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James O. Ellis, Jr. sold 2,440 shares of the firm’s stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $56.82, for a total value of $138,640.80. Following the transaction, the director now directly owns 65,014 shares in the company, valued at $3,694,095.48. The disclosure for this sale can be found here. Insiders have sold 30,628 shares of company stock worth $1,791,645 over the last three months. Corporate insiders own 0.49% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Bellwether Investment Group LLC acquired a new position in shares of Level 3 Communications during the second quarter worth approximately $105,000. Jackson Grant Investment Advisers Inc. acquired a new position in shares of Level 3 Communications during the second quarter worth approximately $110,000. Hall Laurie J Trustee acquired a new position in shares of Level 3 Communications during the fourth quarter worth approximately $115,000. NN Investment Partners Holdings N.V. raised its position in shares of Level 3 Communications by 22.7% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 2,165 shares of the company’s stock worth $122,000 after buying an additional 400 shares during the period. Finally, Cypress Capital Management LLC WY acquired a new position in shares of Level 3 Communications during the second quarter worth approximately $138,000.
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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