GTT Communications, Inc. (GTT) Forecasted to Earn FY2019 Earnings of $1.01 Per Share
GTT Communications, Inc. (NYSE:GTT) – Research analysts at SunTrust Banks issued their FY2019 earnings per share (EPS) estimates for GTT Communications in a research report issued on Wednesday. SunTrust Banks analyst G. Miller expects that the technology company will post earnings per share of $1.01 for the year.
Separately, Zacks Investment Research upgraded GTT Communications from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $37.25.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Teachers Advisors LLC lifted its stake in shares of GTT Communications by 2.1% in the 1st quarter. Teachers Advisors LLC now owns 43,757 shares of the technology company’s stock valued at $1,065,000 after purchasing an additional 906 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of GTT Communications by 7.0% in the 1st quarter. Vanguard Group Inc. now owns 1,102,275 shares of the technology company’s stock valued at $26,840,000 after purchasing an additional 71,718 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of GTT Communications by 7.2% in the 1st quarter. Geode Capital Management LLC now owns 205,372 shares of the technology company’s stock valued at $5,000,000 after purchasing an additional 13,708 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of GTT Communications by 5.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 103,200 shares of the technology company’s stock valued at $2,513,000 after buying an additional 5,613 shares during the period. Finally, Aperio Group LLC purchased a new stake in shares of GTT Communications in the 2nd quarter valued at $1,273,000. 65.42% of the stock is currently owned by institutional investors.
In other GTT Communications news, Director S Joseph Bruno sold 1,000 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $40.50, for a total transaction of $40,500.00. Following the transaction, the director now owns 108,467 shares of the company’s stock, valued at $4,392,913.50. 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 Monday, October 2nd. The stock was sold at an average price of $31.99, for a total value of $223,930.00. Following the transaction, the general counsel now directly owns 397,081 shares in the company, valued at approximately $12,702,621.19. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 81,000 shares of company stock worth $63,250 and sold 77,000 shares worth $1,907,290. Insiders own 25.70% of the company’s stock.
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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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