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.

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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.

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

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