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Level 3 Communications (NYSE:LVLT) Director Archie Clemins unloaded 1,186 shares of the company’s stock on the open market in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $43.56, for a total value of $51,662.16. Following the transaction, the director now directly owns 34,913 shares in the company, valued at approximately $1,520,810. The sale was disclosed in a legal filing with the SEC, which is available at this link.

A number of research firms have recently commented on LVLT. Analysts at DA Davidson reiterated a “buy” rating on shares of Level 3 Communications in a research note on Thursday. Separately, analysts at Zacks upgraded shares of Level 3 Communications from a “neutral” rating to an “outperform” rating in a research note on Thursday, May 29th. They now have a $47.60 price target on the stock. Finally, analysts at Macquarie raised their price target on shares of Level 3 Communications from $44.00 to $49.00 in a research note on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Level 3 Communications currently has an average rating of “Buy” and an average price target of $42.84.

Shares of Level 3 Communications (NYSE:LVLT) traded down 0.94% during mid-day trading on Friday, hitting $43.24. The stock had a trading volume of 795,503 shares. Level 3 Communications has a one year low of $19.71 and a one year high of $44.77. The stock’s 50-day moving average is $42.22 and its 200-day moving average is $36.67. The company has a market cap of $10.264 billion and a price-to-earnings ratio of 121.93.

Level 3 Communications (NYSE:LVLT) last announced its earnings results on Wednesday, April 30th. The company reported $0.47 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted ($0.13) earnings per share. The company’s quarterly revenue was up 2.0% on a year-over-year basis. On average, analysts predict that Level 3 Communications will post $1.53 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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