Shares of Level 3 Communications, Inc. (NYSE:LVLT) have received an average recommendation of “Hold” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $61.47.

Several brokerages recently commented on LVLT. Barclays decreased their target price on shares of 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 downgraded shares of Level 3 Communications from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 9th.

Shares of Level 3 Communications (LVLT) traded up $0.93 on Tuesday, hitting $53.63. 3,119,100 shares of the stock were exchanged, compared to its average volume of 2,423,731. The company has a market cap of $19,450.00, a price-to-earnings ratio of 30.30 and a beta of 1.14. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.94. Level 3 Communications has a 1 year low of $50.82 and a 1 year high of $64.61.

Several hedge funds and other institutional investors have recently modified their holdings of LVLT. Vanguard Group Inc. increased its position in Level 3 Communications by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 29,179,420 shares of the technology company’s stock valued at $1,730,339,000 after purchasing an additional 749,109 shares during the period. BlackRock Inc. increased its position in Level 3 Communications by 0.8% during the 2nd quarter. BlackRock Inc. now owns 18,083,573 shares of the technology company’s stock valued at $1,072,356,000 after purchasing an additional 148,953 shares during the period. Pentwater Capital Management LP increased its position in Level 3 Communications by 10.4% during the 3rd quarter. Pentwater Capital Management LP now owns 10,285,000 shares of the technology company’s stock valued at $548,088,000 after purchasing an additional 965,000 shares during the period. FMR LLC increased its position in Level 3 Communications by 3.3% during the 2nd quarter. FMR LLC now owns 4,428,040 shares of the technology company’s stock valued at $262,583,000 after purchasing an additional 139,962 shares during the period. Finally, York Capital Management Global Advisors LLC increased its position in Level 3 Communications by 28.9% during the 2nd quarter. York Capital Management Global Advisors LLC now owns 4,350,004 shares of the technology company’s stock valued at $257,955,000 after purchasing an additional 974,832 shares during the period. 98.84% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: “Level 3 Communications, Inc. (LVLT) Given Consensus Rating of “Hold” by Analysts” was published by American Banking News and is owned by of American Banking News. If you are viewing this piece on another publication, it was illegally copied and republished in violation of U.S. and international copyright laws. The original version of this piece can be viewed at https://www.americanbankingnews.com/2018/01/02/level-3-communications-inc-lvlt-given-consensus-rating-of-hold-by-analysts.html.

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.

Receive News & Ratings for Level 3 Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Level 3 Communications and related companies with MarketBeat.com's FREE daily email newsletter.