Wall Street brokerages forecast that Level 3 Communications, Inc. (NYSE:LVLT) will announce $0.39 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Level 3 Communications’ earnings, with the highest EPS estimate coming in at $0.40 and the lowest estimate coming in at $0.36. Level 3 Communications also reported earnings of $0.39 per share during the same quarter last year. The firm is expected to report its next quarterly earnings results on Monday, October 30th.

According to Zacks, analysts expect that Level 3 Communications will report full-year earnings of $1.52 per share for the current fiscal year, with EPS estimates ranging from $1.45 to $1.58. For the next financial year, analysts forecast that the business will post earnings of $1.83 per share, with EPS estimates ranging from $1.62 to $2.31. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow Level 3 Communications.

Level 3 Communications (NYSE:LVLT) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. Level 3 Communications had a return on equity of 5.80% and a net margin of 7.85%. The business had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same period in the previous year, the company posted $0.53 EPS. The firm’s revenue was up .2% compared to the same quarter last year.

Several equities research analysts recently issued reports on LVLT shares. Zacks Investment Research upgraded shares of Level 3 Communications from a “sell” rating to a “hold” rating in a report on Wednesday, April 12th. BidaskClub cut shares of Level 3 Communications from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Jefferies Group LLC dropped their target price on shares of Level 3 Communications from $64.00 to $59.00 and set a “hold” rating on the stock in a report on Thursday, May 4th. Raymond James Financial, Inc. restated an “underperform” rating and issued a $62.82 target price on shares of Level 3 Communications in a report on Monday, May 15th. Finally, Barclays PLC restated an “equal weight” rating and issued a $59.00 target price (down previously from $61.00) on shares of Level 3 Communications in a report on Friday, July 14th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $61.36.

In related news, SVP Eric Mortensen sold 1,189 shares of Level 3 Communications stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $59.10, for a total transaction of $70,269.90. Following the transaction, the senior vice president now owns 77,944 shares in the company, valued at approximately $4,606,490.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Sunit S. Patel sold 16,653 shares of Level 3 Communications stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $59.10, for a total transaction of $984,192.30. Following the transaction, the vice president now owns 545,330 shares in the company, valued at approximately $32,229,003. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,224 shares of company stock worth $1,668,038. 0.53% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. boosted its position in Level 3 Communications by 155.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,226 shares of the technology company’s stock worth $132,000 after buying an additional 1,354 shares during the period. Bronfman E.L. Rothschild L.P. increased its stake in shares of Level 3 Communications by 449.0% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,306 shares of the technology company’s stock worth $137,000 after buying an additional 1,886 shares in the last quarter. CWM LLC increased its stake in shares of Level 3 Communications by 5.5% in the first quarter. CWM LLC now owns 3,183 shares of the technology company’s stock worth $182,000 after buying an additional 166 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Level 3 Communications during the second quarter worth about $211,000. Finally, KCG Holdings Inc. bought a new stake in shares of Level 3 Communications during the first quarter worth about $212,000.

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Shares of Level 3 Communications (NYSE:LVLT) traded down 0.37% during mid-day trading on Wednesday, reaching $56.34. The company had a trading volume of 668,049 shares. The firm has a 50-day moving average of $59.00 and a 200-day moving average of $58.91. Level 3 Communications has a 12-month low of $44.01 and a 12-month high of $64.61. The company has a market capitalization of $20.42 billion, a P/E ratio of 32.44 and a beta of 1.23.

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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