Level 3 Communications (LVLT) was Downgraded by JP Morgan to ” Neutral”. Earlier the firm had a rating of “Overweight ” on the company shares. JP Morgan advised their investors in a research report released on Jul 28, 2016.
Many Wall Street Analysts have commented on Level 3 Communications. Level 3 Communications was Initiated by Pacific Crest to “Sector Weight” on Jul 25, 2016.
On the company’s financial health, Level 3 Communications reported $0.53 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.45. The company had revenue of $2056.00 million for the quarter, compared to analysts expectations of $2078.64 million. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS.
Level 3 Communications closed down -1.76 points or -3.34% at $50.89 with 50,27,897 shares getting traded on Thursday. Post opening the session at $52.25, the shares hit an intraday low of $50.43 and an intraday high of $52.5 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on Jul 5, 2016, Jeffrey K Storey (President and CEO) sold 60,557 shares at $50.41 per share price. According to the SEC, on Jul 5, 2016, Sunit S Patel (Executive VP and CFO) sold 31,135 shares at $50.83 per share price. On Jul 5, 2016, Laurinda Y Pang (Regional President NA and Asia) sold 11,570 shares at $50.50 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.