Equities analysts predict that Level 3 Communications, Inc. (NYSE:LVLT) will report $2.06 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Level 3 Communications’ earnings. The highest sales estimate is $2.08 billion and the lowest is $2.05 billion. Level 3 Communications reported sales of $2.03 billion during the same quarter last year, which would suggest a positive year over year growth rate of 1.5%. The business is expected to announce its next quarterly earnings results on Monday, October 30th.

On average, analysts expect that Level 3 Communications will report full year sales of $2.06 billion for the current year, with estimates ranging from $8.22 billion to $8.28 billion. For the next fiscal year, analysts forecast that the business will report sales of $8.46 billion per share, with estimates ranging from $8.36 billion to $8.50 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Level 3 Communications.

Level 3 Communications (NYSE:LVLT) last announced its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.42 earnings per share for the quarter, topping the 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 company had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter last year, the firm posted $0.53 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis.

LVLT has been the topic of several analyst reports. Zacks Investment Research cut Level 3 Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Barclays PLC reduced their price objective on Level 3 Communications from $59.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 4th. BidaskClub cut Level 3 Communications from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 9th. Finally, UBS AG reiterated a “buy” rating and issued a $68.00 price objective (down from $71.00) on shares of Level 3 Communications in a research note on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $61.73.

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Shares of Level 3 Communications (NYSE LVLT) opened at 53.19 on Tuesday. The stock has a market cap of $19.29 billion, a price-to-earnings ratio of 30.26 and a beta of 1.21. Level 3 Communications has a one year low of $46.35 and a one year high of $64.61. The company has a 50-day moving average price of $53.80 and a 200 day moving average price of $57.56.

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Level 3 Communications by 2.6% during the second quarter. Vanguard Group Inc. now owns 29,179,420 shares of the technology company’s stock worth $1,730,339,000 after purchasing an additional 749,109 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Level 3 Communications by 0.8% during the second quarter. BlackRock Inc. now owns 18,083,573 shares of the technology company’s stock worth $1,072,356,000 after purchasing an additional 148,953 shares during the last quarter. Pentwater Capital Management LP grew its holdings in shares of Level 3 Communications by 6.8% during the second quarter. Pentwater Capital Management LP now owns 9,320,000 shares of the technology company’s stock worth $552,676,000 after purchasing an additional 590,000 shares during the last quarter. FMR LLC grew its holdings in shares of Level 3 Communications by 3.3% during the second quarter. FMR LLC now owns 4,428,040 shares of the technology company’s stock worth $262,583,000 after purchasing an additional 139,962 shares during the last quarter. Finally, York Capital Management Global Advisors LLC grew its holdings in shares of Level 3 Communications by 28.9% during the second quarter. York Capital Management Global Advisors LLC now owns 4,350,004 shares of the technology company’s stock worth $257,955,000 after purchasing an additional 974,832 shares during the last quarter. 98.99% of the stock is currently owned by institutional investors.

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.

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