GTT Communications, Inc. (NYSE:GTT) – Equities research analysts at Craig Hallum lowered their FY2016 earnings estimates for GTT Communications in a report issued on Tuesday. Craig Hallum analyst G. Sutton now expects that the firm will post earnings per share of $0.26 for the year, down from their previous estimate of $0.27.

GTT has been the subject of a number of other reports. Pacific Crest set a $37.00 price objective on GTT Communications and gave the company a “buy” rating in a research report on Friday, September 23rd. SunTrust Banks, Inc. started coverage on GTT Communications in a research report on Monday, December 12th. They issued a “buy” rating and a $32.00 price objective for the company. Jefferies Group restated a “buy” rating and issued a $30.00 price objective (up from $28.00) on shares of GTT Communications in a research report on Friday, November 11th. Finally, Drexel Hamilton set a $28.00 price objective on GTT Communications and gave the company a “buy” rating in a research report on Wednesday, September 28th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $29.20.

Earnings History and Estimates for GTT Communications (NYSE:GTT)

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Shares of GTT Communications (NYSE:GTT) opened at 28.55 on Thursday. The company has a market capitalization of $1.06 billion, a P/E ratio of 32.22 and a beta of 1.70. GTT Communications has a 12 month low of $12.31 and a 12 month high of $29.75. The company has a 50-day moving average price of $27.37 and a 200-day moving average price of $23.11.

In other GTT Communications news, insider Richard Calder sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $21.65, for a total transaction of $216,500.00. Following the transaction, the insider now owns 1,290,633 shares of the company’s stock, valued at $27,942,204.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Chris Mckee sold 7,000 shares of the business’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $21.65, for a total value of $151,550.00. Following the transaction, the general counsel now directly owns 442,178 shares in the company, valued at approximately $9,573,153.70. The disclosure for this sale can be found here. Corporate insiders own 29.86% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece was reported by Watch List News and is the sole property of of Watch List News. If you are reading this piece on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The original version of this piece can be viewed at http://www.watchlistnews.com/gtt-communications-inc-gtt-to-post-fy2016-earnings-of-0-26-per-share-craig-hallum-forecasts/1061193.html.

Institutional investors have recently added to or reduced their stakes in the company. D.A. Davidson & CO. raised its position in GTT Communications by 7.5% in the third quarter. D.A. Davidson & CO. now owns 16,839 shares of the company’s stock worth $396,000 after buying an additional 1,181 shares during the period. Gotham Asset Management LLC raised its position in GTT Communications by 30.7% in the third quarter. Gotham Asset Management LLC now owns 51,243 shares of the company’s stock worth $1,206,000 after buying an additional 12,040 shares during the period. The Manufacturers Life Insurance Company bought a new position in GTT Communications during the third quarter worth $410,000. SG Capital Management LLC bought a new position in GTT Communications during the third quarter worth $819,000. Finally, Morgan Stanley raised its position in GTT Communications by 613.2% in the third quarter. Morgan Stanley now owns 208,390 shares of the company’s stock worth $4,903,000 after buying an additional 179,169 shares during the period. 61.94% of the stock is currently owned by institutional investors.

GTT Communications Company Profile

GTT Communications, Inc is a provider of cloud networking services. The Company offers a portfolio of global communications services, including EtherCloud wide area network services; Internet services; managed network and security services, and voice and unified communication services. The Company provides Layer 2 (Ethernet) and Layer 3 (multiprotocol label switching (MPLS)) solutions to meet the needs of multinational clients.

5 Day Chart for NYSE:GTT

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