Equities research analysts expect that GTT Communications Inc (NYSE:GTT) will post earnings per share of ($0.17) for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for GTT Communications’ earnings, with the highest EPS estimate coming in at ($0.01) and the lowest estimate coming in at ($0.67). GTT Communications posted earnings of $0.02 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 950%. The business is expected to issue its next quarterly earnings report on Thursday, August 2nd.
According to Zacks, analysts expect that GTT Communications will report full-year earnings of ($1.62) per share for the current financial year, with EPS estimates ranging from ($2.02) to ($0.89). For the next financial year, analysts expect that the company will report earnings of $0.08 per share, with EPS estimates ranging from ($0.95) to $1.05. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow GTT Communications.
GTT Communications (NYSE:GTT) last issued its earnings results on Thursday, May 3rd. The technology company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.67). GTT Communications had a negative net margin of 9.96% and a negative return on equity of 0.40%. The firm had revenue of $260.70 million during the quarter, compared to analysts’ expectations of $253.61 million. During the same quarter last year, the firm earned ($0.42) EPS. The business’s revenue for the quarter was up 40.2% compared to the same quarter last year.
A number of research analysts have commented on GTT shares. Zacks Investment Research downgraded GTT Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Guggenheim initiated coverage on GTT Communications in a research note on Tuesday, March 13th. They set a “neutral” rating and a $56.00 price target for the company. William Blair reiterated a “buy” rating on shares of GTT Communications in a research note on Wednesday, March 28th. Raymond James initiated coverage on GTT Communications in a research note on Monday, April 30th. They set an “outperform” rating and a $60.00 price target for the company. Finally, ValuEngine upgraded GTT Communications from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. GTT Communications currently has a consensus rating of “Buy” and an average target price of $57.22.
In other news, General Counsel Chris Mckee sold 7,000 shares of the company’s stock in a transaction dated Monday, April 16th. The stock was sold at an average price of $49.81, for a total transaction of $348,670.00. Following the completion of the sale, the general counsel now owns 431,965 shares in the company, valued at approximately $21,516,176.65. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director S Joseph Bruno sold 1,000 shares of the business’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $49.85, for a total value of $49,850.00. Following the transaction, the director now directly owns 106,847 shares of the company’s stock, valued at approximately $5,326,322.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,000 shares of company stock valued at $2,003,740. 23.01% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Brown Advisory Inc. lifted its position in shares of GTT Communications by 62.3% during the 1st quarter. Brown Advisory Inc. now owns 8,115 shares of the technology company’s stock worth $460,000 after purchasing an additional 3,115 shares during the last quarter. Amalgamated Bank acquired a new position in shares of GTT Communications during the 1st quarter worth about $235,000. Principal Financial Group Inc. lifted its position in shares of GTT Communications by 13.5% during the 1st quarter. Principal Financial Group Inc. now owns 24,996 shares of the technology company’s stock worth $1,417,000 after purchasing an additional 2,977 shares during the last quarter. WINTON GROUP Ltd acquired a new position in shares of GTT Communications during the 1st quarter worth about $750,000. Finally, Catalyst Capital Advisors LLC lifted its position in shares of GTT Communications by 100.0% during the 1st quarter. Catalyst Capital Advisors LLC now owns 33,600 shares of the technology company’s stock worth $1,905,000 after purchasing an additional 16,800 shares during the last quarter. 65.90% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE GTT opened at $45.00 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 5.96. GTT Communications has a one year low of $28.30 and a one year high of $62.32. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 187.50 and a beta of 1.03.
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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