Level 3 Communications, Inc. (NYSE:LVLT) had its price objective decreased by investment analysts at Barclays PLC from $59.00 to $53.00 in a research note issued to investors on Wednesday. The brokerage presently has an “equal weight” rating on the technology company’s stock. Barclays PLC’s price objective would suggest a potential downside of 4.16% from the stock’s current price.

A number of other research firms have also issued reports on LVLT. Zacks Investment Research lowered Level 3 Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. BidaskClub cut Level 3 Communications from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. Finally, UBS AG reaffirmed a “buy” rating and issued a $68.00 price target (down previously from $71.00) on shares of Level 3 Communications in a report on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. Level 3 Communications has a consensus rating of “Hold” and a consensus target price of $61.12.

Shares of Level 3 Communications (LVLT) traded down 0.118% during mid-day trading on Wednesday, hitting $55.235. 1,460,394 shares of the stock traded hands. The company has a market cap of $20.03 billion, a P/E ratio of 31.419 and a beta of 1.21. The firm has a 50 day moving average of $53.69 and a 200 day moving average of $57.81. Level 3 Communications has a 12 month low of $44.01 and a 12 month high of $64.61.

Level 3 Communications (NYSE:LVLT) last announced its quarterly earnings data 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. The company had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Level 3 Communications had a net margin of 7.85% and a return on equity of 5.80%. Level 3 Communications’s revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 EPS. Equities analysts anticipate that Level 3 Communications will post $1.43 EPS for the current fiscal year.

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Institutional investors and hedge funds have recently modified their holdings of the stock. Virtu KCG Holdings LLC lifted its position in Level 3 Communications by 0.5% in the second quarter. Virtu KCG Holdings LLC now owns 3,723 shares of the technology company’s stock valued at $221,000 after buying an additional 17 shares during the last quarter. Cleararc Capital Inc. increased its position in shares of Level 3 Communications by 0.3% during the first quarter. Cleararc Capital Inc. now owns 7,067 shares of the technology company’s stock valued at $373,000 after acquiring an additional 23 shares during the last quarter. Citizens Financial Group Inc RI increased its position in shares of Level 3 Communications by 0.4% during the first quarter. Citizens Financial Group Inc RI now owns 5,959 shares of the technology company’s stock valued at $315,000 after acquiring an additional 26 shares during the last quarter. Cadence Capital Management LLC increased its position in shares of Level 3 Communications by 0.8% during the second quarter. Cadence Capital Management LLC now owns 4,643 shares of the technology company’s stock valued at $239,000 after acquiring an additional 38 shares during the last quarter. Finally, Capstone Asset Management Co. increased its position in shares of Level 3 Communications by 0.3% during the second quarter. Capstone Asset Management Co. now owns 21,215 shares of the technology company’s stock valued at $1,258,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 98.83% of the company’s stock.

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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