Equities research analysts expect that Level 3 Communications, Inc. (NYSE:LVLT) will post $0.38 earnings per share (EPS) for the current quarter, according to Zacks. Seven analysts have issued estimates for Level 3 Communications’ earnings. The lowest EPS estimate is $0.35 and the highest is $0.40. Level 3 Communications reported earnings per share of $0.39 in the same quarter last year, which would suggest a negative year over year growth rate of 2.6%. The company is scheduled to announce its next earnings report on Monday, October 30th.

On average, analysts expect that Level 3 Communications will report full-year earnings of $1.45 per share for the current year, with EPS estimates ranging from $1.39 to $1.50. For the next financial year, analysts expect that the business will post earnings of $1.81 per share, with EPS estimates ranging from $1.62 to $2.29. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Level 3 Communications.

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

A number of equities analysts have commented on LVLT shares. Jefferies Group LLC reduced their target price on Level 3 Communications from $64.00 to $59.00 and set a “hold” rating for the company in a report on Thursday, May 4th. Raymond James Financial, Inc. reissued an “underperform” rating and set a $62.82 target price on shares of Level 3 Communications in a report on Monday, May 15th. BidaskClub raised Level 3 Communications from a “buy” rating to a “strong-buy” rating in a report on Friday, June 16th. Zacks Investment Research cut Level 3 Communications from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Finally, Barclays PLC reissued 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 issued a hold rating and three have issued a buy rating to the company. Level 3 Communications presently has an average rating of “Hold” and an average target price of $61.67.

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Level 3 Communications (NYSE LVLT) traded down 0.60% during midday trading on Friday, hitting $54.59. The stock had a trading volume of 1,132,541 shares. The firm has a market cap of $19.80 billion, a price-to-earnings ratio of 31.05 and a beta of 1.23. Level 3 Communications has a 52 week low of $44.01 and a 52 week high of $64.61. The firm has a 50 day moving average of $56.87 and a 200 day moving average of $58.47.

In related news, VP Sunit S. Patel sold 16,653 shares of the stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $59.10, for a total value of $984,192.30. Following the completion of the sale, the vice president now owns 545,330 shares of the company’s stock, valued at $32,229,003. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Hector Alonso sold 4,455 shares of the stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $59.10, for a total value of $263,290.50. Following the completion of the sale, the insider now directly owns 148,228 shares of the company’s stock, valued at approximately $8,760,274.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,224 shares of company stock valued at $1,668,038. Insiders own 0.53% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. British Columbia Investment Management Corp raised its position in shares of Level 3 Communications by 11.5% in the first quarter. British Columbia Investment Management Corp now owns 192,038 shares of the technology company’s stock valued at $10,988,000 after buying an additional 19,869 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Level 3 Communications by 9.8% in the first quarter. Parametric Portfolio Associates LLC now owns 501,276 shares of the technology company’s stock valued at $28,683,000 after buying an additional 44,634 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Level 3 Communications by 217.4% in the second quarter. DekaBank Deutsche Girozentrale now owns 74,215 shares of the technology company’s stock valued at $4,493,000 after buying an additional 50,833 shares during the last quarter. Longfellow Investment Management Co. LLC raised its position in shares of Level 3 Communications by 13.3% in the second quarter. Longfellow Investment Management Co. LLC now owns 213,000 shares of the technology company’s stock valued at $12,631,000 after buying an additional 25,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Level 3 Communications during the first quarter valued at $644,000. Institutional investors own 98.74% of the company’s stock.

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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