$0.39 EPS Anticipated for Level 3 Communications, Inc. (LVLT) This Quarter

$0.39 EPS Anticipated for Level 3 Communications, Inc. (LVLT) This Quarter

Wall Street brokerages expect Level 3 Communications, Inc. (NYSE:LVLT) to announce earnings per share of $0.39 for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Level 3 Communications’ earnings, with the highest EPS estimate coming in at $0.42 and the lowest estimate coming in at $0.36. Level 3 Communications posted earnings per share of $0.52 in the same quarter last year, which indicates a negative year-over-year growth rate of 25%. The business is scheduled to issue its next quarterly earnings report on Wednesday, July 26th.

According to Zacks, analysts expect that Level 3 Communications will report full-year earnings of $1.54 per share for the current fiscal year, with EPS estimates ranging from $1.50 to $1.58. For the next financial year, analysts expect that the business will post earnings of $1.87 per share, with EPS estimates ranging from $1.65 to $2.32. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Level 3 Communications.

Level 3 Communications (NYSE:LVLT) last announced its quarterly earnings results on Wednesday, May 3rd. The technology company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by $0.03. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.04 billion. Level 3 Communications had a net margin of 8.15% and a return on equity of 6.34%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the business earned $0.35 earnings per share.

A number of analysts have weighed in on the stock. Raymond James Financial, Inc. reissued an “underperform” rating and set a $62.82 target price on shares of Level 3 Communications in a research report on Monday, May 15th. Jefferies Group LLC decreased their target price on shares of Level 3 Communications from $64.00 to $59.00 and set a “hold” rating for the company in a research report on Thursday, May 4th. Zacks Investment Research raised shares of Level 3 Communications from a “sell” rating to a “hold” rating in a research report on Wednesday, April 12th. Morgan Stanley reissued a “weight” rating and set a $65.00 target price on shares of Level 3 Communications in a research report on Wednesday, March 29th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $61.00 target price on shares of Level 3 Communications in a research report on Friday, February 10th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $61.80.

Level 3 Communications (NYSE LVLT) traded up 0.08% during midday trading on Tuesday, reaching $61.91. 1,546,662 shares of the company’s stock traded hands. Level 3 Communications has a 52-week low of $44.01 and a 52-week high of $62.07. The company has a market cap of $22.37 billion, a P/E ratio of 35.02 and a beta of 1.48. The stock has a 50-day moving average of $59.81 and a 200 day moving average of $57.94.

In other Level 3 Communications news, VP Sunit S. Patel sold 26,488 shares of Level 3 Communications stock in a transaction dated Tuesday, April 4th. The stock was sold at an average price of $57.49, for a total transaction of $1,522,795.12. Following the completion of the transaction, the vice president now owns 561,983 shares of the company’s stock, valued at approximately $32,308,402.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Michael Ryan sold 9,179 shares of Level 3 Communications stock in a transaction dated Tuesday, April 4th. The shares were sold at an average price of $57.49, for a total value of $527,700.71. Following the transaction, the executive vice president now directly owns 150,921 shares of the company’s stock, valued at approximately $8,676,448.29. The disclosure for this sale can be found here. Insiders have sold a total of 43,491 shares of company stock worth $2,500,298 over the last quarter. Company insiders own 0.49% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Level 3 Communications by 3,123.2% in the first quarter. BlackRock Inc. now owns 17,934,620 shares of the technology company’s stock valued at $1,026,218,000 after buying an additional 17,378,193 shares during the last quarter. Pentwater Capital Management LP acquired a new position in shares of Level 3 Communications during the fourth quarter valued at approximately $484,132,000. Norges Bank acquired a new position in shares of Level 3 Communications during the fourth quarter valued at approximately $177,305,000. Manikay Partners LLC acquired a new position in shares of Level 3 Communications during the fourth quarter valued at approximately $140,336,000. Finally, Fiduciary Management Inc. WI raised its position in shares of Level 3 Communications by 39.9% in the first quarter. Fiduciary Management Inc. WI now owns 7,787,706 shares of the technology company’s stock valued at $445,613,000 after buying an additional 2,220,086 shares during the last quarter.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “LVLT”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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