The stock of Level 3 Communications, Inc. (NYSE:LVLT) gapped up by $0.64 today and has $70.75 target or 53.00% above today’s $46.24 share price. The 9 months technical chart setup indicates low risk for the $16.57 billion company. The gap was reported on Oct, 14 by Barchart.com. If the $70.75 price target is reached, the company will be worth $8.78 billion more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 2.89M shares traded hands. Level 3 Communications, Inc. (NYSE:LVLT) has declined 13.27% since March 11, 2016 and is downtrending. It has underperformed by 18.73% the S&P500.
Analysts await Level 3 Communications, Inc. (NYSE:LVLT) to report earnings on October, 26. They expect $0.45 EPS, down 6.25% or $0.03 from last year’s $0.48 per share. LVLT’s profit will be $161.26 million for 25.69 P/E if the $0.45 EPS becomes a reality. After $0.52 actual EPS reported by Level 3 Communications, Inc. for the previous quarter, Wall Street now forecasts -13.46% negative EPS growth.
Level 3 Communications, Inc. (NYSE:LVLT) Ratings Coverage
Out of 7 analysts covering Level 3 (NYSE:LVLT), 6 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 86% are positive. Level 3 has been the topic of 11 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The stock of Level 3 Communications, Inc. (NYSE:LVLT) has “Outperform” rating given on Thursday, September 3 by Macquarie Research. As per Thursday, February 11, the company rating was upgraded by Morgan Stanley. The firm earned “Neutral” rating on Friday, April 29 by Bank of America. On Tuesday, April 19 the stock rating was initiated by William Blair with “Outperform”. The company was maintained on Thursday, July 30 by Canaccord Genuity. The stock of Level 3 Communications, Inc. (NYSE:LVLT) has “Outperform” rating given on Tuesday, September 22 by RBC Capital Markets. Moffett Nathanson upgraded the stock to “Buy” rating in Wednesday, August 24 report. The firm earned “Neutral” rating on Tuesday, August 4 by Macquarie Research.
According to Zacks Investment Research, “Level 3 Communications is an international communications and information services company. The company operates one of the largest Internet backbones in the world, is one of the largest providers of wholesale dial-up service to ISPs in North America and is the primary provider of Internet connectivity for millions of broadband subscribers, through its cable and DSL partners. The company offers a wide range of communications services over its mile broadband fiber optic network including Internet Protocol services, broadband transport and infrastructure services, colocation services, and patented softswitch managed modem and voice services.”
Insitutional Activity: The institutional sentiment decreased to 1.14 in 2016 Q2. Its down 0.42, from 1.56 in 2016Q1. The ratio is negative, as 41 funds sold all Level 3 Communications, Inc. shares owned while 141 reduced positions. 39 funds bought stakes while 168 increased positions. They now own 365.06 million shares or 1.16% less from 369.32 million shares in 2016Q1.
Raveneur Investment Grp Inc Limited Partnership owns 310,441 shares or 4.39% of their US portfolio. Dai Ichi Life Insurance Ltd has invested 0.06% of its portfolio in Level 3 Communications, Inc. (NYSE:LVLT). Bridges Investment Counsel holds 19,582 shares or 0.18% of its portfolio. The Alabama-based Weiss Multi has invested 0.09% in Level 3 Communications, Inc. (NYSE:LVLT). First Foundation holds 1.81% or 489,376 shares in its portfolio. Glenmede Trust Communication Na holds 0% or 1,169 shares in its portfolio. Hallmark Cap Inc has 1,200 shares for 0.01% of their US portfolio. Cannell Peter B & holds 2.28% of its portfolio in Level 3 Communications, Inc. (NYSE:LVLT) for 1.22 million shares. Picton Mahoney Asset Mngmt owns 98,400 shares or 0.31% of their US portfolio. Fjarde Ap owns 73,167 shares or 0.09% of their US portfolio. Tower Cap (Trc) owns 3,904 shares or 0.02% of their US portfolio. Ig Invest Mngmt Limited has 96,356 shares for 0.02% of their US portfolio. Jaffetilchin Inv Partners has 0.24% invested in the company for 15,104 shares. The Iowa-based Principal Fincl has invested 0.03% in Level 3 Communications, Inc. (NYSE:LVLT). Synovus Finance has 60 shares for 0% of their US portfolio.
Insider Transactions: Since May 2, 2016, the stock had 0 buys, and 24 insider sales for $13.06 million net activity. Crouch Andrew had sold 3,090 shares worth $141,368 on Saturday, October 1. Another trade for 31,135 shares valued at $1.58M was made by PATEL SUNIT S on Friday, July 1. Shares for $297,682 were sold by Ryan John Michael. PANG Laurinda Y sold $98,997 worth of Level 3 Communications, Inc. (NYSE:LVLT) on Saturday, October 1. MORTENSEN ERIC had sold 595 shares worth $27,474 on Saturday, October 1. STOREY JEFFREY K had sold 60,557 shares worth $3.05M. 13,275 shares were sold by ALONSO HECTOR, worth $680,270.
Another recent and important Level 3 Communications, Inc. (NYSE:LVLT) news was published by Blogs.Wsj.com which published an article titled: “Level 3 Communications Names Information and Technology Chiefs” on October 12, 2016.
LVLT Company Profile
Level 3 Communications, Inc., incorporated on December 10, 1985, is a well-known provider of a range of integrated communications services. The Company’s operating divisions include North America, EMEA and Latin America. The North America includes activities in Atlanta, Georgia; Littleton, Colorado; Miami, Florida; Montreal, Canada; New York, New York; Phoenix, Arizona; Pittsburgh, Pennsylvania; Southfield, Michigan, and Tulsa, Oklahoma. The Europe segment includes activities in Basingstoke, England; Crewe, England; Dublin, Ireland; London, England; Naarden, The Netherlands, and Paris, France. The Latin America includes activities in Bogota, Colombia; Buenos Aires, Argentina; Caracas, Venezuela; Lima, Peru; Quito, Ecuador; Santiago, Chile, and Sao Paulo, Brazil. The Firm offers optical, Internet Protocol, computing and storage technologies.
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