BidaskClub lowered shares of Level 3 Communications, Inc. (NYSE:LVLT) from a sell rating to a strong sell rating in a research note released on Friday.

A number of other analysts have also recently commented on LVLT. Zacks Investment Research upgraded shares of Level 3 Communications from a sell rating to a hold rating in a research report on Monday, August 7th. UBS AG reiterated a buy rating and set a $68.00 target price (down previously from $71.00) on shares of Level 3 Communications in a report on Tuesday, July 18th. Finally, Barclays PLC reiterated an equal weight rating and set a $59.00 target price (down previously from $61.00) on shares of Level 3 Communications in a report on Friday, July 14th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company’s stock. Level 3 Communications presently has an average rating of Hold and an average price target of $61.73.

Shares of Level 3 Communications (NYSE LVLT) traded up 1.38% on Friday, hitting $53.51. The stock had a trading volume of 2,068,606 shares. The firm has a 50 day moving average price of $53.85 and a 200 day moving average price of $57.60. The company has a market capitalization of $19.41 billion, a P/E ratio of 30.44 and a beta of 1.21. Level 3 Communications has a one year low of $46.35 and a one year high of $64.61.

Level 3 Communications (NYSE:LVLT) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.03. Level 3 Communications had a net margin of 7.85% and a return on equity of 5.80%. The business had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the prior year, the company earned $0.53 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. On average, equities research analysts predict that Level 3 Communications will post $1.45 earnings per share for the current fiscal year.

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Institutional investors have recently bought and sold shares of the company. Hosking Partners LLP boosted its stake in shares of Level 3 Communications by 1.6% during the 2nd quarter. Hosking Partners LLP now owns 418,978 shares of the technology company’s stock worth $24,845,000 after buying an additional 6,665 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Level 3 Communications by 5.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,487,110 shares of the technology company’s stock worth $88,186,000 after buying an additional 78,087 shares during the last quarter. KBC Group NV boosted its stake in shares of Level 3 Communications by 1.4% during the 2nd quarter. KBC Group NV now owns 31,211 shares of the technology company’s stock worth $1,851,000 after buying an additional 444 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Level 3 Communications by 7.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,760 shares of the technology company’s stock worth $4,196,000 after buying an additional 4,697 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Level 3 Communications by 0.8% during the 2nd quarter. BlackRock Inc. now owns 18,083,573 shares of the technology company’s stock worth $1,072,356,000 after buying an additional 148,953 shares during the last quarter. Institutional investors own 98.81% of the company’s stock.

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.

Analyst Recommendations for Level 3 Communications (NYSE:LVLT)

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