Level 3 Communications, Inc. (NYSE:LVLT) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Friday.

Other equities research analysts also recently issued reports about the company. UBS AG reiterated a “buy” rating and issued a $68.00 price target (down from $71.00) on shares of Level 3 Communications in a report on Tuesday, July 18th. Barclays PLC lowered their price target on Level 3 Communications from $59.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, October 4th. Finally, Zacks Investment Research downgraded Level 3 Communications from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $61.73.

Shares of Level 3 Communications (NYSE:LVLT) traded up 1.38% during trading on Friday, hitting $53.51. 2,068,606 shares of the stock were exchanged. The stock has a market cap of $19.41 billion, a PE ratio of 30.44 and a beta of 1.21. The stock’s 50 day moving average price is $53.85 and its 200 day moving average price is $57.60. Level 3 Communications has a one year low of $46.35 and a one year high of $64.61.

Level 3 Communications (NYSE:LVLT) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.03. Level 3 Communications had a return on equity of 5.80% and a net margin of 7.85%. The business had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the previous year, the business earned $0.53 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. Equities research analysts predict that Level 3 Communications will post $1.45 EPS for the current year.

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Several large investors have recently added to or reduced their stakes in the company. Virtu KCG Holdings LLC grew its stake in shares of 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 worth $221,000 after purchasing an additional 17 shares in the last quarter. Capstone Asset Management Co. grew its stake 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 purchasing an additional 60 shares in the last quarter. MAI Capital Management grew its stake 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 purchasing an additional 90 shares in the last quarter. ING Groep NV grew its stake in shares of Level 3 Communications by 0.4% in the second quarter. ING Groep NV now owns 22,545 shares of the technology company’s stock worth $1,337,000 after purchasing an additional 93 shares in the last quarter. Finally, Cadence Capital Management LLC grew its stake in shares of Level 3 Communications by 0.8% in the second quarter. Cadence Capital Management LLC now owns 11,455 shares of the technology company’s stock worth $679,000 after purchasing an additional 96 shares in the last quarter. 98.81% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Level 3 Communications (NYSE:LVLT)

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