Level 3 Communications, Inc. (NYSE:LVLT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday.

According to Zacks, “Level 3 Communications posted strong second-quarter 2017 financial results where the company’s bottom and top line beat the Zacks Consensus Estimate.  Recently, CenturyLink and Level 3 Communications moved further closer to their proposed merger amid approval from 23 states and territories. Further, Level 3 Communications continues to have a strong presence in fields of enterprise networking including data networks, content distribution, managed services, securities, voice cloud and cloud connection. However, we remain concerned about the company’s operation in a competitive enterprise communications market. Moreover, customer concentration, foreign currency exchange rate risks and global macro economic fluctuations act as major dampeners for the company’s growth prospects. Over the past six months, share price of Level 3 Communications declined 0.30% but failed to beat the industry’s growth of 6.46%.”

A number of other equities analysts have also recently commented on LVLT. BidaskClub cut Level 3 Communications from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Barclays PLC reaffirmed an “equal weight” rating and issued a $59.00 price target (down from $61.00) on shares of Level 3 Communications in a research note on Friday, July 14th. Jefferies Group LLC decreased their price target on Level 3 Communications from $64.00 to $59.00 and set a “hold” rating on the stock in a research note on Thursday, May 4th. UBS AG reaffirmed a “buy” rating and issued a $68.00 price target (down from $71.00) on shares of Level 3 Communications in a research note on Tuesday, July 18th. Finally, Raymond James Financial, Inc. reaffirmed an “underperform” rating and issued a $62.82 price target on shares of Level 3 Communications in a research note on Monday, May 15th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $61.49.

Level 3 Communications (NYSE LVLT) traded down 0.23% on Monday, hitting $57.25. The stock had a trading volume of 1,341,891 shares. Level 3 Communications has a 1-year low of $44.01 and a 1-year high of $64.61. The company has a 50-day moving average price of $59.51 and a 200-day moving average price of $58.93. The stock has a market capitalization of $20.75 billion, a price-to-earnings ratio of 32.96 and a beta of 1.23.

Level 3 Communications (NYSE:LVLT) last released its earnings results on Wednesday, August 2nd. The technology company reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.03. The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.06 billion. Level 3 Communications had a return on equity of 5.80% and a net margin of 7.85%. Level 3 Communications’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS. Equities analysts predict that Level 3 Communications will post $1.43 earnings per share for the current year.

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In other Level 3 Communications news, EVP John Michael Ryan sold 5,927 shares of the business’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $59.10, for a total value of $350,285.70. Following the sale, the executive vice president now directly owns 144,994 shares of the company’s stock, valued at $8,569,145.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Eric Mortensen sold 1,189 shares of the business’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $59.10, for a total value of $70,269.90. Following the completion of the sale, the senior vice president now directly owns 77,944 shares in the company, valued at $4,606,490.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,224 shares of company stock worth $1,668,038. 0.53% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in LVLT. Cleararc Capital Inc. increased its position in shares of Level 3 Communications by 0.7% in the first quarter. Cleararc Capital Inc. now owns 7,147 shares of the technology company’s stock worth $409,000 after buying an additional 50 shares during the last quarter. Capstone Asset Management Co. increased its position in shares of Level 3 Communications by 0.3% in the second quarter. Capstone Asset Management Co. now owns 21,215 shares of the technology company’s stock worth $1,258,000 after buying an additional 60 shares during the last quarter. Financial Architects Inc increased its position in shares of Level 3 Communications by 0.8% in the first quarter. Financial Architects Inc now owns 8,354 shares of the technology company’s stock worth $478,000 after buying an additional 64 shares during the last quarter. Private Advisor Group LLC increased its position in shares of Level 3 Communications by 1.1% in the first quarter. Private Advisor Group LLC now owns 6,516 shares of the technology company’s stock worth $377,000 after buying an additional 68 shares during the last quarter. Finally, MAI Capital Management increased its position in shares of Level 3 Communications by 1.7% in the second quarter. MAI Capital Management now owns 5,314 shares of the technology company’s stock worth $315,000 after buying an additional 90 shares during the last quarter.

Level 3 Communications Company Profile

Level 3 Communications, Inc is a provider of a range of integrated communications services. The Company’s operating segments include North America, EMEA and Latin America. The North America includes operations in Atlanta, Georgia; Littleton, Colorado; Miami, Florida; Montreal, Canada; New York, New York; Phoenix, Arizona; Pittsburgh, Pennsylvania; Southfield, Michigan, and Tulsa, Oklahoma.

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Analyst Recommendations for Level 3 Communications (NYSE:LVLT)

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