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Level 3 Communications Surges, Why It Still Has Room To Run
January 10, 2014
One company that should be on your radar is
Level 3 Communications, Inc. ( LVLT - Analyst Report) . The stock of the communication service provider has seen its Zacks Rank surge over the past four weeks, moving from Hold territory to its current position as a Strong Buy.
A key reason for this move has been the positive trend in the earnings estimate revisions picture. For LVLT’s full year estimate, we have one estimate go higher in the past 30 days, compared to just one downward revision in the same time period. This trend has helped the consensus estimate to trend higher, narrowing from a loss of 48 cents per share a month ago to its current level at a loss of 47 cents.
This positive shift in estimates has made some investors take notice and buy the stock. In fact, LVLT has seen some pretty solid trading lately, as the company has moved higher by 14.1% in the past month.
If Level 3 Communications, Inc. ( LVLT - Analyst Report) can keep up this great momentum on the earnings estimate front and continue to impress analysts, we could see more gains ahead for this company, suggesting that you might want to put LVLT on your watch list for the future.
Other top-ranked stocks worth considering in this space include Hawaiian Telcom Holdco, Inc. , Telecom Corporation of New Zealand Limited carrying a Zacks Rank #1 (Strong Buy) and BT Group plc ( BT - Snapshot Report) , carrying a Zacks Rank #2 (Buy).
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