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Level 3 reportedly exploring ‘strategic options,’ Comcast fingered as possible suitor
Posted On Jul 14 2016
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Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. 13 of the analysts have a buy or better rating; the 0 sells versus 0 underperforms. (NYSE:LVLT) mean price target has been set at $62.00 by Thomson Reuters. Level 3 has been the topic of 10 analyst reports since July 30, 2015 according to StockzIntelligence Inc.
Recently stock market analysts updated their outstanding price targets on shares of Level 3 Communications, Inc.
Level 3 stock is surging on the rumor that Comcast may be considering an acquisition of the company. 0 analysts have suggested “Sell” for the company.
Investors considering LVLT stock at the going market price of $56.3/share should know the stock will next release quarterly results for the June 2016 quarter. Most recent session’s volume of 3.15 million shares lower than its average volume of 6.42 million shares. That would represent a -1225% year-over-year decrease.
Singapore Technologies Telemedia Pte Ltd holds 100% of its portfolio in Level 3 Communications, Inc. for 65.03 million shares. For the prior quarter revenue for the company hit $2.05B, with earnings at $0.5/share.
Benzinga Pro reported this morning that Level 3 is in the process of exploring strategic alternatives, phrasing that often implies that company management is considering major M&A transactions such as selling the company or merging with another company. (LVLT), so its rating change is noteworthy.
02/05/2016 – Level 3 Communications, Inc. was upgraded to “overweight” by analysts at Stephens. There was another key note issued by Morgan Stanley on Thursday February 11, 2016.
01/05/2016 – Level 3 Communications, Inc. had its “neutral” rating reiterated by analysts at Hanson.
During the most recent trading day, the stock’s price shifted up +37.79% from its 52-week low and -2.24% lower from its 52-week high.
The stock’s 50 day moving average is 51.90 and its 200 day moving average is 51.05.
Speculation of a possible Level 3 sale drove the stock price (NYSE: LVLT) of the network operator up by nearly 4% yesterday, with three times the normal trading volume.
