Brokerage firm JP Morgan Downgrades its rating on Level 3 Communications(NYSE:LVLT). The shares have been rated Neutral. Previously, the analysts had a Overweight rating on the shares. The rating by JP Morgan was issued on Jul 28, 2016.
In a different note, Pacific Crest said it Initiates Coverage on Level 3 Communications, according to a research note issued on Jul 25, 2016. The shares have been rated ‘Sector Weight’ by the firm.
Level 3 Communications (LVLT) shares turned negative on Thursdays trading session with the shares closing down -0.29 points or -0.59% at a volume of 15,83,577. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $49.64. The peak price level was also seen at $49.64 while the days lowest was $48.65. Finally the shares closed at $48.98. The 52-week high of the shares is $57.59 while the 52-week low is $40.86. According to the latest information available, the market cap of the company is $17,532 M.
Level 3 Communications(LVLT) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $2.06B. Analysts had an estimated revenue of $2.08B. Earnings per share were $0.41. Analysts had estimated an EPS of $0.45.
Several Insider Transactions has been reported to the SEC. On Jul 5, 2016, Jeffrey K Storey (President and CEO) sold 60,557 shares at $50.41 per share price.Also, 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.