GTT Communications, Inc. (GTT) Expected to Announce Earnings of -$0.10 Per Share
Brokerages forecast that GTT Communications, Inc. (NYSE:GTT) will post earnings per share (EPS) of ($0.10) for the current quarter, Zacks reports. Six analysts have made estimates for GTT Communications’ earnings, with the lowest EPS estimate coming in at ($0.16) and the highest estimate coming in at $0.03. GTT Communications reported earnings per share of ($0.02) during the same quarter last year, which would suggest a negative year-over-year growth rate of 400%. The company is scheduled to announce its next earnings report on Wednesday, March 14th.
On average, analysts expect that GTT Communications will report full year earnings of ($0.61) per share for the current financial year, with EPS estimates ranging from ($0.78) to ($0.11). For the next fiscal year, analysts forecast that the company will post earnings of $0.11 per share, with EPS estimates ranging from ($0.33) to $0.32. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for GTT Communications.
A number of equities research analysts have commented on GTT shares. Cowen Inc set a $43.00 target price on shares of GTT Communications and gave the stock a “buy” rating in a research note on Friday, August 4th. Zacks Investment Research upgraded shares of GTT Communications from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. Finally, BidaskClub cut shares of GTT Communications from a “sell” rating to a “strong sell” rating in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $36.20.
In other GTT Communications news, insider Mcmullen Family Trust bought 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was purchased at an average cost of $0.65 per share, with a total value of $39,000.00. Also, General Counsel Chris Mckee sold 7,000 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $36.34, for a total transaction of $254,380.00. Following the completion of the transaction, the general counsel now directly owns 391,517 shares of the company’s stock, valued at $14,227,727.78. The disclosure for this sale can be found here. Over the last three months, insiders purchased 94,100 shares of company stock valued at $89,319 and sold 207,900 shares valued at $2,018,536. Company insiders own 25.70% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA grew its holdings in shares of GTT Communications by 2,153.6% in the second quarter. BNP Paribas Arbitrage SA now owns 3,448 shares of the technology company’s stock valued at $109,000 after purchasing an additional 3,295 shares in the last quarter. Airain ltd purchased a new position in shares of GTT Communications in the second quarter valued at $216,000. Legal & General Group Plc grew its holdings in shares of GTT Communications by 14.1% in the second quarter. Legal & General Group Plc now owns 7,353 shares of the technology company’s stock valued at $234,000 after purchasing an additional 907 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of GTT Communications by 52.2% in the third quarter. JPMorgan Chase & Co. now owns 7,950 shares of the technology company’s stock valued at $250,000 after purchasing an additional 2,726 shares in the last quarter. Finally, Laurion Capital Management LP purchased a new position in shares of GTT Communications in the second quarter valued at $266,000. 61.32% of the stock is owned by hedge funds and other institutional investors.
GTT Communications (GTT) traded up $0.20 during midday trading on Monday, reaching $40.50. 124,593 shares of the company’s stock were exchanged, compared to its average volume of 518,576. GTT Communications has a 12 month low of $22.95 and a 12 month high of $40.95. The company has a market cap of $1,751.24, a PE ratio of 447.78 and a beta of 1.49. The company has a debt-to-equity ratio of 4.08, a quick ratio of 0.91 and a current ratio of 0.91.
ILLEGAL ACTIVITY NOTICE: This piece was first reported by Watch List News and is the property of of Watch List News. If you are viewing this piece on another publication, it was stolen and reposted in violation of U.S. and international copyright legislation. The correct version of this piece can be viewed at https://www.watchlistnews.com/gtt-communications-inc-gtt-expected-to-announce-earnings-of-0-10-per-share/1726433.html.
GTT Communications Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for GTT Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GTT Communications Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.