Zacks: Brokerages Expect Level 3 Communications, Inc. (LVLT) Will Announce Quarterly Sales of $2.06 Billion

Wall Street brokerages expect Level 3 Communications, Inc. (NYSE:LVLT) to report $2.06 billion in sales for the current quarter, according to Zacks. Seven analysts have provided estimates for Level 3 Communications’ earnings, with the lowest sales estimate coming in at $2.05 billion and the highest estimate coming in at $2.07 billion. Level 3 Communications also posted sales of $2.06 billion during the same quarter last year. The business is expected to report its next quarterly earnings report on Wednesday, July 26th.

On average, analysts expect that Level 3 Communications will report full-year sales of $2.06 billion for the current year, with estimates ranging from $8.23 billion to $8.31 billion. For the next fiscal year, analysts expect that the firm will report sales of $8.48 billion per share, with estimates ranging from $8.35 billion to $8.59 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Level 3 Communications.

Level 3 Communications (NYSE:LVLT) last posted its quarterly earnings results on Wednesday, May 3rd. The technology company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by $0.03. Level 3 Communications had a return on equity of 6.23% and a net margin of 7.80%. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the prior year, the business earned $0.35 earnings per share. The firm’s revenue for the quarter was down .1% on a year-over-year basis.

A number of analysts have commented on the stock. 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 reaffirmed a “weight” rating and set a $65.00 price target on shares of Level 3 Communications in a research report on Wednesday, March 29th. BidaskClub cut shares of Level 3 Communications from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Jefferies Group LLC cut their price target on shares of Level 3 Communications from $64.00 to $59.00 and set a “hold” rating on the stock in a research report on Thursday, May 4th. Finally, Raymond James Financial, Inc. reaffirmed an “underperform” rating and set a $62.82 price target on shares of Level 3 Communications in a research report on Monday, May 15th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $61.80.

Level 3 Communications (NYSE LVLT) traded up 0.90% on Wednesday, reaching $60.74. The company’s stock had a trading volume of 1,051,202 shares. The stock’s 50 day moving average price is $60.62 and its 200 day moving average price is $58.59. Level 3 Communications has a 12 month low of $44.01 and a 12 month high of $64.61. The company has a market cap of $21.95 billion, a P/E ratio of 34.36 and a beta of 1.22.

TRADEMARK VIOLATION NOTICE: This report was first reported by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this report on another site, it was copied illegally and reposted in violation of United States & international trademark & copyright laws. The correct version of this report can be viewed at https://sportsperspectives.com/2017/07/18/zacks-brokerages-expect-level-3-communications-inc-lvlt-will-announce-quarterly-sales-of-2-06-billion-updated-updated.html.

In other news, EVP John Michael Ryan sold 9,179 shares of the stock in a transaction dated Tuesday, April 4th. The shares were sold at an average price of $57.49, for a total transaction of $527,700.71. Following the transaction, the executive vice president now owns 150,921 shares of the company’s stock, valued at approximately $8,676,448.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sunit S. Patel sold 26,488 shares of the 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 transaction, the vice president now directly owns 561,983 shares in the company, valued at approximately $32,308,402.67. 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 in the last three months. Insiders own 0.53% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Cleararc Capital Inc. boosted its position in shares of Level 3 Communications by 0.7% in the first quarter. Cleararc Capital Inc. now owns 7,147 shares of the technology company’s stock valued at $409,000 after buying an additional 50 shares during the last quarter. Financial Architects Inc boosted its position in shares of Level 3 Communications by 0.8% in the first quarter. Financial Architects Inc now owns 8,354 shares of the technology company’s stock valued at $478,000 after buying an additional 64 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Level 3 Communications by 1.1% in the first quarter. Private Advisor Group LLC now owns 6,516 shares of the technology company’s stock valued at $377,000 after buying an additional 68 shares during the last quarter. Capstone Asset Management Co. boosted its position in shares of Level 3 Communications by 0.6% in the first quarter. Capstone Asset Management Co. now owns 21,155 shares of the technology company’s stock valued at $1,210,000 after buying an additional 120 shares during the last quarter. Finally, Advantus Capital Management Inc boosted its position in shares of Level 3 Communications by 0.5% in the first quarter. Advantus Capital Management Inc now owns 29,262 shares of the technology company’s stock valued at $1,674,000 after buying an additional 136 shares during the last quarter.

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.

Get a free copy of the Zacks research report on Level 3 Communications (LVLT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Level 3 Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Level 3 Communications Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply