Level 3 Communications (LVLT) is Initiated by Barclays to Overweight, Price Target at $54

Level 3 Communications (LVLT) was Initiated by Barclays to “Overweight” and the brokerage firm has set the Price Target at $54. Barclays advised their investors in a research report released on Oct 18, 2016.

Many Wall Street Analysts have commented on Level 3 Communications. Level 3 Communications was Upgraded by JP Morgan to ” Overweight” on Oct 14, 2016. Level 3 Communications was Upgraded by MoffettNathanson to ” Buy” on Aug 24, 2016. Level 3 Communications was Downgraded by JP Morgan to ” Neutral” on Jul 28, 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 opened for trading at $46.21 and hit $46.66 on the upside on Friday, eventually ending the session at $46.15, with a gain of 2.35% or 1.06 points. The heightened volatility saw the trading volume jump to 35,81,578 shares. Company has a market cap of $16,592 M.

In a different news, on Oct 4, 2016, Jeffrey K Storey (President and CEO) sold 12,385 shares at $45.68 per share price. According to the SEC, on Oct 4, 2016, Sunit S Patel (Executive VP and CFO) sold 6,170 shares at $45.81 per share price. On Oct 4, 2016, John Michael Ryan (EVP, CLO) sold 2,170 shares at $45.55 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 Company’s 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.

Level 3 Communications

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