Equities research analysts expect that GTT Communications Inc (NYSE:GTT) will announce earnings of ($0.16) per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for GTT Communications’ earnings, with estimates ranging from ($0.24) to $0.04. GTT Communications posted earnings of ($0.43) per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 62.8%. The firm is scheduled to report its next earnings report on Thursday, November 14th.

On average, analysts expect that GTT Communications will report full-year earnings of ($1.00) per share for the current year, with EPS estimates ranging from ($1.44) to ($0.32). For the next year, analysts anticipate that the firm will post earnings of $0.05 per share, with EPS estimates ranging from ($0.46) to $1.18. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that follow GTT Communications.

GTT Communications (NYSE:GTT) last posted its earnings results on Thursday, August 8th. The technology company reported ($0.59) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.55). GTT Communications had a negative return on equity of 12.53% and a negative net margin of 7.66%. The firm had revenue of $433.80 million during the quarter, compared to the consensus estimate of $447.66 million. During the same period in the previous year, the company posted ($2.83) EPS. The firm’s revenue for the quarter was up 32.7% compared to the same quarter last year.

A number of equities research analysts have commented on GTT shares. ValuEngine raised shares of GTT Communications from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Oppenheimer decreased their price objective on shares of GTT Communications from $42.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday. Zacks Investment Research lowered shares of GTT Communications from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Craig Hallum lowered shares of GTT Communications from a “buy” rating to a “hold” rating in a report on Friday. Finally, Cowen decreased their price objective on shares of GTT Communications from $37.00 to $21.00 and set an “outperform” rating on the stock in a report on Friday. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $29.31.

In other GTT Communications news, insider Richard Calder sold 1,533 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $26.75, for a total transaction of $41,007.75. Following the sale, the insider now owns 1,333,527 shares of the company’s stock, valued at approximately $35,671,847.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Chris Mckee sold 954 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $26.75, for a total transaction of $25,519.50. Following the sale, the general counsel now directly owns 484,545 shares in the company, valued at approximately $12,961,578.75. The disclosure for this sale can be found here. In the last three months, insiders have acquired 37,840 shares of company stock worth $269,424 and have sold 23,789 shares worth $424,266. 40.84% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in GTT. AlphaOne Investment Services LLC lifted its position in GTT Communications by 67.6% during the 1st quarter. AlphaOne Investment Services LLC now owns 2,900 shares of the technology company’s stock valued at $101,000 after purchasing an additional 1,170 shares during the period. Athena Capital Advisors LLC acquired a new position in GTT Communications during the 2nd quarter valued at about $189,000. First Business Financial Services Inc. acquired a new position in GTT Communications during the 2nd quarter valued at about $222,000. Bessemer Group Inc. lifted its position in GTT Communications by 42.6% during the 2nd quarter. Bessemer Group Inc. now owns 16,735 shares of the technology company’s stock valued at $295,000 after purchasing an additional 5,000 shares during the period. Finally, Metropolitan Life Insurance Co. NY lifted its position in GTT Communications by 356.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 13,587 shares of the technology company’s stock valued at $321,000 after purchasing an additional 10,611 shares during the period. Institutional investors own 86.62% of the company’s stock.

Shares of GTT traded up $0.99 during trading hours on Thursday, hitting $9.10. The stock had a trading volume of 3,038,095 shares, compared to its average volume of 579,612. The company’s fifty day moving average price is $14.29. The company has a debt-to-equity ratio of 9.77, a current ratio of 0.60 and a quick ratio of 0.60. GTT Communications has a 52 week low of $4.90 and a 52 week high of $47.20. The stock has a market capitalization of $508.24 million, a PE ratio of -5.72 and a beta of 1.56.

GTT Communications Company Profile

GTT Communications, Inc provides cloud networking services to multinational enterprises, carriers, and government customers in the United States, Europe, and internationally. The company offers private, public, and hybrid cloud network solutions; high bandwidth-Internet connectivity and IP transit, as well as broadband and wireless Internet access services; managed equipment, security, and hosting services; and voice services consisting of session initiation protocol trunking and hosted private branch exchange services.

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

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