Stock analysts at Drexel Hamilton began coverage on shares of Level 3 Communications (NYSE:LVLT) in a report issued on Thursday, Stock Ratings Network.com reports. The firm set a “hold” rating on the stock.
LVLT has been the subject of a number of other recent research reports. Analysts at Jefferies Group initiated coverage on shares of Level 3 Communications in a research note to investors on Thursday. They set a “buy” rating on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Level 3 Communications in a research note to investors on Monday, November 18th. They now have a $40.00 price target on the stock. Finally, analysts at UBS AG raised their price target on shares of Level 3 Communications from $22.00 to $30.00 in a research note to investors on Monday, November 18th. They now have a “neutral” rating on the stock. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Level 3 Communications has a consensus rating of “Hold” and an average target price of $30.13.
Level 3 Communications (NYSE:LVLT) opened at 30.60 on Thursday. Level 3 Communications has a one year low of $19.12 and a one year high of $31.18. The stock’s 50-day moving average is $30.06 and its 200-day moving average is $25.18. The company’s market cap is $6.842 billion.
Level 3 Communications (NYSE:LVLT) last announced its earnings results on Wednesday, October 30th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by $0.05. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the previous year, the company posted ($0.76) earnings per share. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, analysts predict that Level 3 Communications will post $-0.46 earnings per share for the current fiscal year.
In other Level 3 Communications news, Director Charles Miller III sold 64,845 shares of Level 3 Communications stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $30.50, for a total transaction of $1,977,772.50. Following the completion of the transaction, the director now directly owns 201,749 shares in the company, valued at approximately $6,153,345. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Level 3 Communications, Inc (NYSE:LVLT) is a facilities-based provider of a range of integrated communications services.
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