$0.37 EPS Expected for Level 3 Communications, Inc. (LVLT) This Quarter

Analysts expect Level 3 Communications, Inc. (NYSE:LVLT) to announce $0.37 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Level 3 Communications’ earnings. The highest EPS estimate is $0.44 and the lowest is $0.25. Level 3 Communications posted earnings of $0.34 per share in the same quarter last year, which suggests a positive year over year growth rate of 8.8%. The firm is expected to issue its next earnings report after the market closes on Wednesday, May 3rd.

According to Zacks, analysts expect that Level 3 Communications will report full-year earnings of $1.57 per share for the current year, with EPS estimates ranging from $1.43 to $1.76. For the next financial year, analysts expect that the company will report earnings of $1.85 per share, with EPS estimates ranging from $1.53 to $2.21. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that that provide coverage for Level 3 Communications.

Level 3 Communications (NYSE:LVLT) last announced its quarterly earnings results on Wednesday, February 8th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.44 by $0.16. Level 3 Communications had a net margin of 8.15% and a return on equity of 6.34%. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.06 billion.

Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Level 3 Communications from a “sell” rating to a “hold” rating in a report on Wednesday. Jefferies Group LLC lifted their target price on shares of Level 3 Communications from $50.00 to $64.00 and gave the company a “hold” rating in a research report on Wednesday, January 25th. Royal Bank of Canada reiterated a “hold” rating and set a $61.00 target price on shares of Level 3 Communications in a research report on Friday, February 10th. Finally, Morgan Stanley reiterated a “weight” rating and set a $65.00 target price on shares of Level 3 Communications in a research report on Wednesday, March 29th. Thirteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $61.92.

TRADEMARK VIOLATION NOTICE: “$0.37 EPS Expected for Level 3 Communications, Inc. (LVLT) This Quarter” was posted by sleekmoney and is the property of of sleekmoney. If you are accessing this news story on another domain, it was copied illegally and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this news story can be accessed at https://sleekmoney.com/0-37-eps-expected-for-level-3-communications-inc-lvlt-this-quarter/1739731.html.

Shares of Level 3 Communications (NYSE:LVLT) traded down 0.03% during midday trading on Thursday, hitting $59.54. 3,710,277 shares of the company’s stock traded hands. Level 3 Communications has a 1-year low of $44.01 and a 1-year high of $60.13. The firm has a market capitalization of $21.47 billion, a price-to-earnings ratio of 31.84 and a beta of 1.48. The company has a 50 day moving average price of $57.21 and a 200 day moving average price of $55.19.

In other Level 3 Communications news, VP Sunit S. Patel sold 16,305 shares of the business’s stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $58.65, for a total value of $956,288.25. Following the transaction, the vice president now directly owns 496,116 shares in the company, valued at $29,097,203.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Hector Alonso sold 6,899 shares of the business’s stock in a transaction dated Tuesday, April 4th. The shares were sold at an average price of $57.49, for a total transaction of $396,623.51. Following the completion of the transaction, the insider now owns 152,683 shares in the company, valued at $8,777,745.67. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,367 shares of company stock worth $4,134,978. Company insiders own 0.49% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in Level 3 Communications by 1.9% in the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 4,014 shares of the company’s stock worth $186,000 after buying an additional 74 shares during the period. GAM Holding AG raised its position in Level 3 Communications by 1.3% in the third quarter. GAM Holding AG now owns 9,416 shares of the company’s stock worth $437,000 after buying an additional 118 shares during the period. Capstone Asset Management Co. raised its position in Level 3 Communications by 0.6% in the first quarter. Capstone Asset Management Co. now owns 21,155 shares of the company’s stock worth $1,210,000 after buying an additional 120 shares during the period. Nippon Life Insurance Co. raised its position in Level 3 Communications by 0.6% in the third quarter. Nippon Life Insurance Co. now owns 24,408 shares of the company’s stock worth $1,132,000 after buying an additional 141 shares during the period. Finally, Commonwealth Equity Services Inc raised its position in Level 3 Communications by 0.7% in the third quarter. Commonwealth Equity Services Inc now owns 23,093 shares of the company’s stock worth $1,071,000 after buying an additional 159 shares during the period.

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.

5 Day Chart for NYSE:LVLT

Get a free copy of the Zacks research report on Level 3 Communications (LVLT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/0-37-eps-expected-for-level-3-communications-inc-lvlt-this-quarter/1739731.html

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

 

Leave a Reply

Your email address will not be published. Required fields are marked *