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Level 3 Communications (NYSE:LVLT) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report released on Tuesday. They currently have a $47.60 price target on the stock. Zacks‘s price objective indicates a potential upside of 7.04% from the company’s current price.

A number of other analysts have also recently weighed in on LVLT. Analysts at DA Davidson reiterated a “buy” rating on shares of Level 3 Communications in a research note on Thursday, June 5th. Separately, 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. Finally, 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. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Level 3 Communications presently has a consensus rating of “Hold” and a consensus price target of $42.84.

Shares of Level 3 Communications (NYSE:LVLT) traded up 1.28% during mid-day trading on Tuesday, hitting $44.47. The stock had a trading volume of 1,494,958 shares. Level 3 Communications has a 52 week low of $20.14 and a 52 week high of $45.97. The stock’s 50-day moving average is $43.69 and its 200-day moving average is $38.. The company has a market cap of $10.556 billion and a P/E ratio of 122.65.

Level 3 Communications (NYSE:LVLT) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.47 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted ($0.13) earnings per share. Level 3 Communications’s revenue was up 2.0% compared to the same quarter last year. On average, analysts predict that Level 3 Communications will post $1.51 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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