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Equities researchers at Macquarie increased their target price on shares of Level 3 Communications (NYSE:LVLT) from $44.00 to $49.00 in a research report issued on Monday, StockRatingsNetwork.com reports. Macquarie’s price objective points to a potential upside of 11.31% from the company’s current price.

In other Level 3 Communications news, Director Archie Clemins sold 1,000 shares of Level 3 Communications stock on the open market in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $43.14, for a total transaction of $43,140.00. Following the completion of the sale, the director now directly owns 36,099 shares of the company’s stock, valued at approximately $1,557,311. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Level 3 Communications (NYSE:LVLT) traded down 0.11% on Monday, hitting $43.97. The stock had a trading volume of 734,540 shares. Level 3 Communications has a 52 week low of $19.71 and a 52 week high of $44.40. The stock’s 50-day moving average is $39.50 and its 200-day moving average is $34.65. The company has a market cap of $10.361 billion and a P/E ratio of 122.96.

Level 3 Communications (NYSE:LVLT) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.19. The company had revenue of $1.61 million for the quarter, compared to the consensus estimate of $1.59 million. During the same quarter in the previous year, the company posted ($0.13) earnings per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts predict that Level 3 Communications will post $1.54 earnings per share for the current fiscal year.

A number of other firms have also recently commented on LVLT. Analysts at Citigroup Inc. reiterated a “hold” rating on shares of Level 3 Communications in a research note on Thursday, May 1st. They now have a $44.00 price target on the stock. Separately, analysts at Canaccord Genuity raised their price target on shares of Level 3 Communications from $41.00 to $50.00 in a research note on Thursday, May 1st. They now have a “buy” rating on the stock. Finally, analysts at Zacks downgraded shares of Level 3 Communications from an “outperform” rating to a “neutral” rating in a research note on Wednesday, April 30th. They now have a $44.60 price target on the stock. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $42.24.

Level 3 Communications, Inc (NYSE:LVLT) is a facilities-based provider of a range of integrated communications services.

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