Level 3 Communications, Inc. (NYSE:LVLT) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Saturday.

Several other equities research analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Level 3 Communications from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. UBS AG reissued a “buy” rating and issued a $68.00 price objective (down previously from $71.00) on shares of Level 3 Communications in a research report on Tuesday, July 18th. Barclays PLC reissued an “equal weight” rating and issued a $59.00 price objective (down previously from $61.00) on shares of Level 3 Communications in a research report on Friday, July 14th. Finally, Raymond James Financial, Inc. reissued an “underperform” rating and issued a $62.82 price objective on shares of Level 3 Communications in a research report on Monday, May 15th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. Level 3 Communications has an average rating of “Hold” and an average target price of $61.67.

Shares of Level 3 Communications (NYSE:LVLT) traded down 0.34% during midday trading on Friday, reaching $52.81. 4,849,607 shares of the company were exchanged. Level 3 Communications has a 52-week low of $44.01 and a 52-week high of $64.61. The company has a market capitalization of $19.15 billion, a P/E ratio of 30.04 and a beta of 1.23. The stock has a 50-day moving average price of $55.82 and a 200 day moving average price of $58.24.

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

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In related news, insider Hector Alonso sold 4,455 shares of Level 3 Communications stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $59.10, for a total transaction of $263,290.50. Following the completion of the sale, the insider now owns 148,228 shares of the company’s stock, valued at approximately $8,760,274.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Eric Mortensen sold 1,189 shares of Level 3 Communications stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $59.10, for a total transaction of $70,269.90. Following the sale, the senior vice president now directly owns 77,944 shares of the company’s stock, valued at approximately $4,606,490.40. The disclosure for this sale can be found here. Insiders have sold a total of 28,224 shares of company stock valued at $1,668,038 in the last ninety days. 0.49% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in LVLT. Tiverton Asset Management LLC bought a new stake in shares of Level 3 Communications during the 2nd quarter worth about $126,000. Sun Life Financial INC boosted its holdings in shares of Level 3 Communications by 23,733.3% during the 2nd quarter. Sun Life Financial INC now owns 2,145 shares of the technology company’s stock worth $127,000 after buying an additional 2,136 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Level 3 Communications by 155.3% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,226 shares of the technology company’s stock worth $132,000 after buying an additional 1,354 shares during the period. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of Level 3 Communications by 449.0% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,306 shares of the technology company’s stock worth $137,000 after buying an additional 1,886 shares during the period. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of Level 3 Communications during the 2nd quarter worth about $211,000. 98.74% of the stock is owned by institutional investors and hedge funds.

About Level 3 Communications

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.

Analyst Recommendations for Level 3 Communications (NYSE:LVLT)

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