Level 3 Communications Inc. Reaches New 12-Month High at $27.96 (LVLT)
Level 3 Communications (NASDAQ:LVLT)’s share price reached a new 52-week high during mid-day trading on Wednesday, Analyst Ratings Network.com reports. The stock traded as high as $27.96 and last traded at $27.96, with a volume of 1,697,539 shares traded. The stock had previously closed at $26.87.
LVLT has been the subject of a number of recent research reports. Analysts at Macquarie raised their price target on shares of Level 3 Communications (NASDAQ:LVLT) from $24.00 to $28.00 in a research note to investors on Tuesday, September 24th. They now have a “neutral” rating on the stock. Separately, analysts at Morgan Stanley downgraded shares of Level 3 Communications (NASDAQ:LVLT) from an “overweight” rating to an “equal weight” rating in a research note to investors on Friday, September 20th. They now have a $28.00 price target on the stock. Finally, analysts at DA Davidson reiterated a “neutral” rating on shares of Level 3 Communications (NASDAQ:LVLT) in a research note to investors on Friday, September 13th. They now have a $25.50 price target on the stock, up previously from $23.50. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $24.94.
Level 3 Communications has a one year low of $17.95 and a one year high of $27.87. The stock has a 50-day moving average of $24.3 and a 200-day moving average of $22.11. The company’s market cap is $6.225 billion.
Level 3 Communications (NASDAQ:LVLT) last announced its earnings results on Wednesday, July 31st. The company reported ($0.11) EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted ($0.29) earnings per share. The company’s quarterly revenue was down 1.3% on a year-over-year basis. Analysts expect that Level 3 Communications will post $-0.48 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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