Todays Report: Today, Level 3 Communications Inc. (LVLT) Receives $60.81 Consensus Target Price from Brokerages

Today, Level 3 Communications Inc. (LVLT) Receives $60.81 Consensus Target Price from Brokerages

Level 3 Communications Inc. (NYSE:LVLT) has been assigned a consensus rating of “Hold” from the twenty-two brokerages that are presently covering the firm. Fourteen investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $60.81.

Several brokerages have issued reports on LVLT. Moffett Nathanson cut shares of Level 3 Communications from a “buy” rating to a “neutral” rating in a report on Tuesday. Barclays PLC cut shares of Level 3 Communications from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $54.00 to $57.00 in a report on Wednesday, November 16th. Wells Fargo & Co. cut shares of Level 3 Communications from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 1st. FBR & Co lifted 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 report on Tuesday, November 1st. Finally, RBC Capital Markets cut shares of Level 3 Communications from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $58.00 to $63.00 in a report on Tuesday, November 1st.

Level 3 Communications (NYSE:LVLT) opened at 56.79 on Wednesday. The company has a market capitalization of $20.44 billion, a P/E ratio of 5.49 and a beta of 1.60. The company has a 50-day moving average of $51.19 and a 200 day moving average of $50.98. Level 3 Communications has a 12-month low of $41.73 and a 12-month high of $57.59.

Level 3 Communications (NYSE:LVLT) last issued its earnings results on Thursday, November 3rd. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by $0.04. The firm earned $2.03 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Level 3 Communications had a return on equity of 6.18% and a net margin of 45.64%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the firm posted $0.48 earnings per share. Equities research analysts forecast that Level 3 Communications will post $1.59 earnings per share for the current fiscal year.

In other Level 3 Communications news, insider Andrew Crouch sold 8,500 shares of the company’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $50.00, for a total value of $425,000.00. Following the completion of the transaction, the insider now directly owns 118,105 shares in the company, valued at $5,905,250. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John Michael Ryan sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $49.61, for a total transaction of $297,660.00. Following the completion of the transaction, the executive vice president now owns 109,956 shares of the company’s stock, valued at $5,454,917.16. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company’s stock.

Several institutional investors have recently bought and sold shares of LVLT. Brahman Capital Corp. purchased a new position in Level 3 Communications during the second quarter worth $240,963,000. Credit Suisse AG raised its position in Level 3 Communications by 369.8% in the third quarter. Credit Suisse AG now owns 1,905,024 shares of the company’s stock worth $88,356,000 after buying an additional 1,499,488 shares during the last quarter. Morgan Stanley raised its position in Level 3 Communications by 151.7% in the third quarter. Morgan Stanley now owns 2,042,478 shares of the company’s stock worth $94,729,000 after buying an additional 1,230,909 shares during the last quarter. Alpine Investment Management LLC raised its position in Level 3 Communications by 73.9% in the third quarter. Alpine Investment Management LLC now owns 2,362,863 shares of the company’s stock worth $109,590,000 after buying an additional 1,004,180 shares during the last quarter. Finally, Carmignac Gestion raised its position in Level 3 Communications by 15.0% in the second quarter. Carmignac Gestion now owns 7,422,726 shares of the company’s stock worth $382,196,000 after buying an additional 969,789 shares during the last quarter.

Related posts

Leave a Comment