RBC Capital Markets reaffirmed their hold rating on shares of Level 3 Communications, Inc. (NYSE:LVLT) in a research note released on Friday morning. They currently have a $61.00 target price on the stock.

Other equities analysts have also recently issued research reports about the stock. Jefferies Group LLC reissued a buy rating and set a $58.00 price objective (down previously from $63.00) on shares of Level 3 Communications in a research report on Friday, October 21st. Goldman Sachs Group, Inc. (The) reissued a conviction-buy rating and set a $55.00 price objective (down previously from $64.00) on shares of Level 3 Communications in a research report on Thursday, October 13th. Barclays PLC cut shares of Level 3 Communications from an overweight rating to an equal weight rating and increased their price objective for the stock from $54.00 to $57.00 in a research report on Wednesday, November 16th. Zacks Investment Research raised shares of Level 3 Communications from a sell rating to a hold rating in a research report on Tuesday, October 18th. Finally, SunTrust Banks, Inc. initiated coverage on shares of Level 3 Communications in a research report on Monday, December 12th. They set a hold rating and a $62.00 price objective on the stock. Fourteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Level 3 Communications has an average rating of Hold and a consensus target price of $61.81.

Shares of Level 3 Communications (NYSE:LVLT) traded down 0.33% during trading on Friday, reaching $57.33. The company’s stock had a trading volume of 2,139,045 shares. The stock’s 50 day moving average price is $58.50 and its 200-day moving average price is $52.93. Level 3 Communications has a 12 month low of $44.01 and a 12 month high of $60.12. The firm has a market cap of $20.64 billion, a PE ratio of 30.66 and a beta of 1.48.

Level 3 Communications (NYSE:LVLT) last released its quarterly earnings data on Wednesday, February 8th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.25. The company had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Level 3 Communications had a net margin of 8.15% and a return on equity of 6.34%. Equities analysts predict that Level 3 Communications will post $1.64 EPS for the current year.

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In other news, SVP Eric Mortensen sold 1,371 shares of the firm’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $58.47, for a total transaction of $80,162.37. Following the completion of the sale, the senior vice president now owns 73,299 shares in the company, valued at approximately $4,285,792.53. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Hector Alonso sold 5,292 shares of the firm’s stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $58.65, for a total transaction of $310,375.80. Following the sale, the insider now owns 127,228 shares of the company’s stock, valued at approximately $7,461,922.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,628 shares of company stock valued at $1,791,645. 0.49% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of LVLT. State Street Corp raised its stake in shares of Level 3 Communications by 1.3% in the fourth quarter. State Street Corp now owns 11,346,415 shares of the company’s stock valued at $639,490,000 after buying an additional 140,408 shares during the last quarter. Pentwater Capital Management LP bought a new stake in shares of Level 3 Communications during the fourth quarter valued at about $484,132,000. BlackRock Institutional Trust Company N.A. raised its stake in shares of Level 3 Communications by 3.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 8,341,453 shares of the company’s stock valued at $386,877,000 after buying an additional 287,814 shares during the last quarter. Carmignac Gestion raised its stake in shares of Level 3 Communications by 2.8% in the third quarter. Carmignac Gestion now owns 7,627,411 shares of the company’s stock valued at $353,759,000 after buying an additional 204,685 shares during the last quarter. Finally, Brahman Capital Corp. bought a new stake in shares of Level 3 Communications during the second quarter valued at about $240,963,000.

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.

5 Day Chart for NYSE:LVLT

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