Wall Street analysts predict that GTT Communications Inc (NYSE:GTT) will post earnings per share of ($0.08) for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for GTT Communications’ earnings. The highest EPS estimate is ($0.05) and the lowest is ($0.11). GTT Communications posted earnings of $0.05 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 260%. The firm is expected to announce its next quarterly earnings report on Thursday, May 3rd.
On average, analysts expect that GTT Communications will report full year earnings of $0.04 per share for the current financial year, with EPS estimates ranging from ($0.05) to $0.12. For the next fiscal year, analysts expect that the business will report earnings of $1.28 per share, with EPS estimates ranging from $0.39 to $2.17. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover GTT Communications.
GTT has been the subject of several analyst reports. Oppenheimer upped their target price on shares of GTT Communications from $52.00 to $68.00 in a research note on Tuesday, February 27th. SunTrust Banks upped their target price on shares of GTT Communications to $60.00 and gave the company a “buy” rating in a research note on Friday, March 2nd. Jefferies Group upped their target price on shares of GTT Communications to $62.00 and gave the company a “buy” rating in a research note on Friday, March 2nd. Craig Hallum restated a “buy” rating and issued a $60.00 target price (up from $50.00) on shares of GTT Communications in a research note on Monday, February 26th. Finally, Zacks Investment Research upgraded shares of GTT Communications from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. GTT Communications currently has an average rating of “Buy” and an average price target of $56.86.
In related news, Director Elizabeth Satin acquired 4,000 shares of GTT Communications stock in a transaction on Thursday, March 1st. The shares were purchased at an average cost of $51.22 per share, for a total transaction of $204,880.00. Following the purchase, the director now directly owns 23,013 shares of the company’s stock, valued at approximately $1,178,725.86. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Richard Calder sold 6,000 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $45.85, for a total transaction of $275,100.00. The disclosure for this sale can be found here. Insiders sold 26,000 shares of company stock valued at $1,376,110 over the last 90 days. Insiders own 25.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of GTT. State Street Corp boosted its stake in GTT Communications by 19.3% during the 2nd quarter. State Street Corp now owns 556,708 shares of the technology company’s stock valued at $17,618,000 after acquiring an additional 90,185 shares during the last quarter. First Trust Advisors LP lifted its position in shares of GTT Communications by 74.9% in the 3rd quarter. First Trust Advisors LP now owns 76,774 shares of the technology company’s stock worth $2,430,000 after buying an additional 32,869 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of 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 acquiring an additional 4,715 shares during the period. ClariVest Asset Management LLC increased its holdings in shares of GTT Communications by 79.2% in the 3rd quarter. ClariVest Asset Management LLC now owns 8,600 shares of the technology company’s stock worth $272,000 after acquiring an additional 3,800 shares during the period. Finally, ING Groep NV increased its holdings in shares of GTT Communications by 105.6% in the 3rd quarter. ING Groep NV now owns 79,463 shares of the technology company’s stock worth $2,515,000 after acquiring an additional 40,810 shares during the period. Hedge funds and other institutional investors own 66.76% of the company’s stock.
GTT Communications (GTT) opened at $59.55 on Tuesday. The firm has a market cap of $2,729.85, a price-to-earnings ratio of 406.00, a PEG ratio of 49.71 and a beta of 1.10. 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 $22.95 and a 52 week high of $62.30.
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About GTT Communications
GTT Communications, Inc provides cloud networking services to a range of clients. The Company offers a portfolio of global communications services, wide area network (WAN) services; Internet services; managed network and security services, and voice and unified communication services. It provides Layer 2 (Ethernet) and Layer 3 (multiprotocol label switching (MPLS)) WAN solutions for multinational clients.
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