Level 3 Communications, Inc. (LVLT), in the Diversified Communication Services space, could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on LVLT’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames, suggesting that Level 3 Communications could be a solid choice for investors.
Current Quarter Estimates for LVLT
In the past 30 days, 8 estimates have gone higher for Level 3 Communications with no downward revision. The consensus estimate trend has been pretty favorable, with estimates significantly increasing from 11 cents per share 30 days ago to 26 cents today.
Current Year Estimates for LVLT
Meanwhile, Level 3 Communications’ current year figures are also looking quite promising with 11 estimates moving higher in the past month. The consensus estimate trend has also seen a boost for this time frame, increasing from 61 cents per share 30 days ago to $1.15 today.
Bottom Line
The stock has also started to move higher lately, adding 12.1% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future.
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