Level 3 Communications EVP Sells $158,275 in Stock (LVLT)
Level 3 Communications (NYSE:LVLT) EVP John Michael Ryan sold 4,870 shares of Level 3 Communications stock on the open market in a transaction dated Friday, January 3rd. The shares were sold at an average price of $32.50, for a total value of $158,275.00. Following the completion of the sale, the executive vice president now directly owns 77,791 shares in the company, valued at approximately $2,528,208. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
LVLT has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Level 3 Communications from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, December 31st. They now have a $35.30 price target on the stock. Separately, analysts at Drexel Hamilton initiated coverage on shares of Level 3 Communications in a research note to investors on Thursday, December 19th. They set a “hold” rating on the stock. Finally, analysts at Jefferies Group initiated coverage on shares of Level 3 Communications in a research note to investors on Thursday, December 19th. They set a “buy” rating and a $36.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $31.37.
Level 3 Communications (NYSE:LVLT) traded up 3.62% during mid-day trading on Monday, hitting $33.78. The stock had a trading volume of 2,149,056 shares. Level 3 Communications has a one year low of $19.12 and a one year high of $33.35. The stock has a 50-day moving average of $30.86 and a 200-day moving average of $26.01. The company’s market cap is $7.553 billion.
Level 3 Communications (NYSE:LVLT) last announced its earnings results on Wednesday, October 30th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by $0.05. 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. On average, analysts predict that Level 3 Communications will post $-0.49 earnings per share for the current fiscal year.
Level 3 Communications, Inc (NYSE:LVLT) is a facilities-based provider of a range of integrated communications services.
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