Level 3 Communications Inc. (NYSE:LVLT) has been assigned an average recommendation of “Buy” from the twenty-two brokerages that are currently covering the firm. Six equities research analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $61.58.

LVLT has been the topic of several research reports. Wells Fargo & Co. reaffirmed an “overweight” rating and issued a $69.00 price objective (up from $61.00) on shares of Level 3 Communications in a research report on Monday, July 18th. Stephens reaffirmed an “overweight” rating and issued a $63.00 price objective on shares of Level 3 Communications in a research report on Friday, July 15th. JPMorgan Chase & Co. cut shares of Level 3 Communications from an “overweight” rating to a “neutral” rating and set a $60.00 price objective on the stock. in a research report on Thursday, July 28th. Morgan Stanley reaffirmed an “overweight” rating on shares of Level 3 Communications in a research report on Wednesday, June 29th. Finally, Moffett Nathanson raised shares of Level 3 Communications from a “neutral” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Wednesday, August 24th.

In other Level 3 Communications news, SVP Eric Mortensen sold 2,150 shares of the stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $50.82, for a total transaction of $109,263.00. Following the transaction, the senior vice president now owns 68,372 shares in the company, valued at approximately $3,474,665.04. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Hector Alonso sold 13,275 shares of the stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $51.24, for a total transaction of $680,211.00. Following the transaction, the insider now owns 124,278 shares in the company, valued at approximately $6,368,004.72. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in LVLT. Royal London Asset Management Ltd. raised its position in shares of Level 3 Communications by 1.3% in the fourth quarter. Royal London Asset Management Ltd. now owns 103,440 shares of the company’s stock worth $5,608,000 after buying an additional 1,283 shares during the last quarter. Stifel Financial Corp raised its position in shares of Level 3 Communications by 22.0% in the fourth quarter. Stifel Financial Corp now owns 134,449 shares of the company’s stock worth $7,307,000 after buying an additional 24,271 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Level 3 Communications by 3.7% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 33,913 shares of the company’s stock worth $1,844,000 after buying an additional 1,200 shares during the last quarter. J.P. Marvel Investment Advisors LLC acquired a new position in shares of Level 3 Communications during the fourth quarter worth about $1,529,000. Finally, Norges Bank acquired a new position in shares of Level 3 Communications during the fourth quarter worth about $218,747,000.

Shares of Level 3 Communications (NYSE:LVLT) opened at 48.66 on Wednesday. The firm has a market capitalization of $17.49 billion, a P/E ratio of 4.89 and a beta of 1.80. Level 3 Communications has a 12 month low of $40.86 and a 12 month high of $57.59. The stock has a 50 day moving average price of $49.82 and a 200 day moving average price of $51.82.

Level 3 Communications (NYSE:LVLT) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.09. Level 3 Communications had a net margin of 43.75% and a return on equity of 7.14%. The company earned $2.06 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the previous year, the business earned $0.42 EPS. The firm’s revenue was up .9% on a year-over-year basis. On average, analysts expect that Level 3 Communications will post $1.66 earnings per share for the current year.

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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