Level 3 Communications Price Target Increased to $28.00 by Analysts at Jefferies Group (LVLT)
Equities researchers at Jefferies Group lifted their target price on shares of Level 3 Communications (NASDAQ:LVLT) from $24.00 to $28.00 in a research report issued on Thursday, Analyst Ratings.Net reports. The firm currently has a “hold” rating on the stock. Jefferies Group’s price objective points to a potential upside of 0.07% from the company’s current price.
In other Level 3 Communications news, CAO Thomas C. Stortz unloaded 2,900 shares of Level 3 Communications stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $28.32, for a total transaction of $82,128.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Level 3 Communications in a research note to investors on Monday. They now have a $30.00 price target on the stock, up previously from $26.00. Separately, 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. Finally, 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. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $25.94.
Shares of Level 3 Communications (NASDAQ:LVLT) traded up 2.87% on Thursday, hitting $27.98. The stock had a trading volume of 1,173,108 shares. Level 3 Communications has a 52-week low of $17.95 and a 52-week high of $26.17. The stock has a 50-day moving average of $25.99 and a 200-day moving average of $22.67. The company’s market cap is $6.230 billion.
Level 3 Communications (NASDAQ:LVLT) last released its 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. On average, analysts predict that Level 3 Communications will post $-0.49 earnings per share 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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