Level 3 Communications, Inc. (NYSE:LVLT) has been assigned an average rating of “Hold” from the seventeen brokerages that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $61.73.

Several research firms have weighed in on LVLT. BidaskClub lowered shares of Level 3 Communications from a “sell” rating to a “strong sell” rating in a report on Friday. Barclays PLC cut their target price on shares of Level 3 Communications from $59.00 to $53.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 4th. Zacks Investment Research upgraded shares of Level 3 Communications from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Finally, UBS AG reiterated a “buy” rating and issued a $68.00 target price (down from $71.00) on shares of Level 3 Communications in a report on Tuesday, July 18th.

Level 3 Communications (NYSE LVLT) traded up 1.38% during midday trading on Thursday, hitting $53.51. The stock had a trading volume of 2,068,606 shares. The stock’s 50 day moving average price is $53.85 and its 200-day moving average price is $57.60. The company has a market cap of $19.41 billion, a PE ratio of 30.44 and a beta of 1.21. Level 3 Communications has a 52 week low of $46.35 and a 52 week high of $64.61.

Level 3 Communications (NYSE:LVLT) last posted its earnings results on Wednesday, August 2nd. The technology company reported $0.42 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.03. The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.06 billion. Level 3 Communications had a net margin of 7.85% and a return on equity of 5.80%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the business posted $0.53 earnings per share. Equities research analysts predict that Level 3 Communications will post $1.45 earnings per share for the current year.

Several large investors have recently modified their holdings of the stock. Virtu KCG Holdings LLC raised its holdings in shares of Level 3 Communications by 0.5% during the second quarter. Virtu KCG Holdings LLC now owns 3,723 shares of the technology company’s stock worth $221,000 after acquiring an additional 17 shares during the period. Capstone Asset Management Co. raised its holdings in shares of Level 3 Communications by 0.3% during the second quarter. Capstone Asset Management Co. now owns 21,215 shares of the technology company’s stock worth $1,258,000 after acquiring an additional 60 shares during the period. MAI Capital Management raised its holdings in shares of Level 3 Communications by 1.7% during the second quarter. MAI Capital Management now owns 5,314 shares of the technology company’s stock worth $315,000 after acquiring an additional 90 shares during the period. ING Groep NV raised its holdings in shares of Level 3 Communications by 0.4% during the second quarter. ING Groep NV now owns 22,545 shares of the technology company’s stock worth $1,337,000 after acquiring an additional 93 shares during the period. Finally, Cadence Capital Management LLC raised its holdings in shares of Level 3 Communications by 0.8% during the second quarter. Cadence Capital Management LLC now owns 11,455 shares of the technology company’s stock worth $679,000 after acquiring an additional 96 shares during the period. Institutional investors and hedge funds own 98.81% of the company’s stock.

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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.

Analyst Recommendations for Level 3 Communications (NYSE:LVLT)

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