Level 3 Communications (LVLT) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Apr 29, 2016.
Many Wall Street Analysts have commented on Level 3 Communications. Level 3 Communications was Upgraded by Morgan Stanley to ” Overweight” on Feb 11, 2016.
On the company’s financial health, Level 3 Communications reported $0.53 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Feb 4, 2016. Analyst had a consensus of $0.55. The company had revenue of $2053.00 million for the quarter, compared to analysts expectations of $2064.59 million. During the same quarter in the previous year, the company posted $0.35 EPS.
Level 3 Communications closed down -0.12 points or -0.22% at $54.09 with 37,34,695 shares getting traded on Wednesday. Post opening the session at $54.19, the shares hit an intraday low of $53.41 and an intraday high of $54.31 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Apr 11, 2016, Andrew Crouch (Regional President, EMEA) sold 8,500 shares at $52.02 per share price. According to the SEC, on Apr 5, 2016, Laurinda Y Pang (Regional President NA and Asia) sold 581 shares at $52.90 per share price. On Apr 4, 2016, Eric Mortensen (SVP, Controller) sold 2,080 shares at $52.95 per share price, according to the Form-4 filing with the securities and exchange commission.
Level 3 Communications Inc. is a provider of a range of integrated communications services. The Companys operating segments include North America includes operations in Georgia Colorado Florida Canada New York Arizona Pennsylvania Michigan and Oklahoma; Europe includes operations in England Ireland The Netherlands and France; The Latin America includes operations in Colombia Argentina Venezuela Peru Ecuador Chile and Brazil. The Asia or Pacific includes operations in China Singapore and Japan. The tw telecom inc. (tw telecom) is an indirect wholly owned subsidiary of the Company. The Company offers services which includes core network services and wholesale voice services. It offers products which include core network services including transport and fiber services colocation and data center services IP and data services managed services cloud and IT services voice services and wholesale voice services including voice termination and toll free.