Level 3 Communications (LVLT) Posts Quarterly Results
Level 3 Communications (NYSE:LVLT) posted its quarterly earnings results on Wednesday. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by $0.01, American Banking and Market News reports. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the previous year, the company posted ($0.26) earnings per share. The company’s revenue for the quarter was down .7% on a year-over-year basis.
Several analysts have recently commented on the stock. 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. On the ratings front, 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $31.37.
Shares of Level 3 Communications (NYSE:LVLT) traded up 10.57% on Wednesday, hitting $34.73. The stock had a trading volume of 3,571,816 shares. Level 3 Communications has a 52 week low of $19.12 and a 52 week high of $34.71. The stock’s 50-day moving average is $32.83 and its 200-day moving average is $27.91. The company’s market cap is $7.766 billion.
Level 3 Communications, Inc (NYSE:LVLT) is a facilities-based provider of a range of integrated communications services.
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