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.
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.
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