Level 3 Communications Inc. Hits New 52-Week High at $26.17 (LVLT)
Shares of Level 3 Communications (NASDAQ:LVLT) hit a new 52-week high during trading on Wednesday, AnalystRatingsNetwork.com reports. The stock traded as high as $26.17 and last traded at $25.90, with a volume of 3,523,281 shares trading hands. The stock had previously closed at $24.49.
A number of analysts have recently weighed in on LVLT shares. Analysts at Macquarie initiated coverage on shares of Level 3 Communications (NASDAQ:LVLT) in a research note to investors on Monday, August 5th. They set a “neutral” rating and a $24.00 price target on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Level 3 Communications (NASDAQ:LVLT) from $22.00 to $24.00 in a research note to investors on Thursday, August 1st. They now have a “hold” rating on the stock. Finally, analysts at UBS AG cut their EPS estimates on shares of Level 3 Communications (NASDAQ:LVLT) in a research note on Thursday. They now have a $22.00 price target on the stock.
Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $23.86.
Level 3 Communications has a 52 week low of $17.95 and a 52 week high of $25.26. The stock has a 50-day moving average of $22.43 and a 200-day moving average of $21.47. The company’s market cap is $5.785 billion.
Level 3 Communications (NASDAQ:LVLT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by $0.04. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the previous year, the company posted ($0.29) earnings per share. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. Analysts expect that Level 3 Communications will post $-0.45 EPS for the current fiscal year.
Level 3 Communications, Inc (NASDAQ:LVLT) is a facilities-based provider of a range of integrated communications services.
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