Level 3 Communications (LVLT) Announces Quarterly Earnings, Misses Estimates By $0.05 EPS
Level 3 Communications (NYSE:LVLT) posted its quarterly earnings results on Wednesday. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by $0.05, StockRatingsNetwork reports. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the company posted ($0.76) earnings per share. Level 3 Communications’s revenue was down 1.3% compared to the same quarter last year.
Shares of Level 3 Communications (NYSE:LVLT) traded up 6.03% on Wednesday, hitting $28.65. The stock had a trading volume of 523,916 shares. Level 3 Communications has a one year low of $17.95 and a one year high of $26.17. The stock has a 50-day moving average of $22.80 and a 200-day moving average of $21.57. The company’s market cap is $6.379 billion.
LVLT has been the subject of a number of recent research reports. Analysts at Jefferies Group raised their price target on shares of Level 3 Communications from $24.00 to $28.00 in a research note to investors on Thursday, October 17th. They now have a “hold” rating on the stock. On the ratings front, analysts at Deutsche Bank reiterated a “buy” rating on shares of Level 3 Communications in a research note to investors on Monday, October 14th. They now have a $30.00 price target on the stock, up previously from $26.00. Finally, 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. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $25.94.
Level 3 Communications, Inc (NYSE:LVLT) is a facilities-based provider of a range of integrated communications services.
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