Analysts predict that GTT Communications (NYSE:GTT) will announce earnings per share of ($0.08) for the current quarter, Zacks reports. Six analysts have made estimates for GTT Communications’ earnings, with the highest EPS estimate coming in at ($0.05) and the lowest estimate coming in at ($0.11). GTT Communications reported earnings per share of $0.05 during the same quarter last year, which would suggest a negative year-over-year growth rate of 260%. The business is expected to report its next earnings report on Thursday, May 3rd.
According to Zacks, analysts expect that GTT Communications will report full-year earnings of $0.04 per share for the current year, with EPS estimates ranging from ($0.05) to $0.12. For the next fiscal year, analysts anticipate that the company will report earnings of $1.28 per share, with EPS estimates ranging from $0.39 to $2.17. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for GTT Communications.
GTT Communications (NYSE:GTT) last announced its quarterly earnings data on Thursday, March 1st. The technology company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.17. GTT Communications had a positive return on equity of 2.78% and a negative net margin of 9.21%. The firm had revenue of $249.20 million during the quarter, compared to analysts’ expectations of $247.40 million.
GTT has been the subject of a number of research analyst reports. Zacks Investment Research cut GTT Communications from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Oppenheimer boosted their price target on GTT Communications from $39.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, December 20th. William Blair reissued an “outperform” rating on shares of GTT Communications in a report on Monday, February 26th. Craig Hallum reissued a “buy” rating and set a $60.00 price target (up previously from $50.00) on shares of GTT Communications in a report on Monday, February 26th. Finally, Guggenheim initiated coverage on GTT Communications in a report on Tuesday, March 13th. They set a “neutral” rating and a $56.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $56.86.
In other GTT Communications news, General Counsel Chris Mckee sold 7,000 shares of the company’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $60.00, for a total value of $420,000.00. Following the completion of the transaction, the general counsel now owns 438,680 shares of the company’s stock, valued at approximately $26,320,800. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Richard Calder sold 6,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $45.85, for a total value of $275,100.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,000 shares of company stock valued at $1,376,110. Insiders own 25.70% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of GTT. Bank of New York Mellon Corp increased its holdings in GTT Communications by 1.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 330,103 shares of the technology company’s stock worth $10,448,000 after purchasing an additional 4,715 shares in the last quarter. American International Group Inc. increased its holdings in GTT Communications by 8.1% in the 3rd quarter. American International Group Inc. now owns 20,768 shares of the technology company’s stock worth $657,000 after purchasing an additional 1,552 shares in the last quarter. Nordea Investment Management AB increased its holdings in GTT Communications by 79.2% in the 3rd quarter. Nordea Investment Management AB now owns 8,600 shares of the technology company’s stock worth $272,000 after purchasing an additional 3,800 shares in the last quarter. Virginia Retirement Systems ET AL acquired a new position in GTT Communications in the 3rd quarter worth about $709,000. Finally, JPMorgan Chase & Co. increased its holdings in GTT Communications by 52.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,950 shares of the technology company’s stock worth $250,000 after purchasing an additional 2,726 shares in the last quarter. 66.76% of the stock is owned by institutional investors and hedge funds.
GTT Communications stock opened at $53.55 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 5.34. GTT Communications has a 52 week low of $24.60 and a 52 week high of $62.32. The firm has a market cap of $2,400.39, a PE ratio of 357.00, a price-to-earnings-growth ratio of 43.71 and a beta of 1.05.
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GTT Communications Company Profile
GTT Communications, Inc provides cloud networking services to multinational enterprises, carriers, and government customers worldwide. The company provides private, public, and hybrid cloud network solutions; high bandwidth-Internet connectivity and IP transit, as well as broadband and wireless access services; managed equipment and security services; and voice and unified communications services consisting of SIP trunking and enterprise PBX services.
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