Level 3 Communications’s “Buy” Rating Reaffirmed at Deutsche Bank (LVLT)
Level 3 Communications (NASDAQ:LVLT)‘s stock had its “buy” rating reaffirmed by Deutsche Bank in a research note issued on Monday, ARN reports. They currently have a $30.00 price target on the stock, up from their previous price target of $26.00. Deutsche Bank’s target price suggests a potential upside of 9.73% from the stock’s previous close.
The analysts wrote, “We have 4 key areas of focus/expectations for 3Q earnings: (1) post paid net adds at TMUS, which could still beat despite recent upward revisions, (2) the degree of pressure on S’s post paid trends and its initial views on ’14 network priorities, (3) 2014 guidance from CCI and SBAC, which should reflect strong trends in organic growth as carriers shift focus to cell splitting for LTE and (4) a pleasantly uneventful print from EQIX having reset guidance last quarter.”
Level 3 Communications (NASDAQ:LVLT) remained flat at $27.34 during trading on Monday. The stock had a trading volume of 301,513 shares. Level 3 Communications has a one year low of $17.95 and a one year high of $28.72. The stock’s 50-day moving average is $25.42 and its 200-day moving average is $22.48. The company’s market cap is $6.087 billion.
Level 3 Communications (NASDAQ:LVLT) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.11) earnings per share for the quarter, missing the analysts’ 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 last year, the company posted ($0.29) earnings per share. Level 3 Communications’s revenue was down 1.3% compared to the same quarter last year. On average, analysts predict that Level 3 Communications will post $-0.48 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Macquarie raised their price target on shares of Level 3 Communications 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 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 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $25.44.
In other Level 3 Communications news, CAO Thomas C. Stortz unloaded 2,900 shares of Level 3 Communications stock on the open market in a transaction dated Friday, October 4th. The stock was sold at an average price of $28.32, for a total value of $82,128.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Level 3 Communications, Inc (NASDAQ:LVLT) is a facilities-based provider of a range of integrated communications services.
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