Equities analysts expect that GTT Communications Inc (NYSE:GTT) will report earnings of ($0.17) per share for the current quarter, Zacks reports. Zero analysts have made estimates for GTT Communications’ earnings. GTT Communications reported earnings of $0.02 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 950%. The firm is expected to report its next quarterly earnings report on Thursday, November 1st.

On average, analysts expect that GTT Communications will report full year earnings of ($4.36) per share for the current fiscal year, with EPS estimates ranging from ($4.79) to ($3.43). For the next fiscal year, analysts forecast that the business will post earnings of $0.34 per share, with EPS estimates ranging from ($1.09) to $1.84. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that cover GTT Communications.

GTT Communications (NYSE:GTT) last released its quarterly earnings results on Friday, August 3rd. The technology company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.25). GTT Communications had a negative net margin of 21.82% and a negative return on equity of 45.46%. The firm had revenue of $326.80 million during the quarter, compared to the consensus estimate of $297.68 million. During the same quarter in the prior year, the business posted $0.02 earnings per share. The firm’s quarterly revenue was up 71.9% on a year-over-year basis.

A number of analysts have recently weighed in on the stock. ValuEngine cut shares of GTT Communications from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 8th. BWS Financial started coverage on shares of GTT Communications in a research report on Monday, August 6th. They issued a “sell” rating and a $5.00 price objective for the company. William Blair reaffirmed a “buy” rating on shares of GTT Communications in a research report on Monday, August 6th. Zacks Investment Research lowered shares of GTT Communications from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 8th. Finally, Raymond James reaffirmed a “buy” rating and issued a $53.00 price objective on shares of GTT Communications in a research report on Monday, August 20th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $51.33.

In related news, CEO Richard Calder sold 6,000 shares of the stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $46.11, for a total value of $276,660.00. Following the completion of the transaction, the chief executive officer now directly owns 1,231,189 shares of the company’s stock, valued at approximately $56,770,124.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Chris Mckee sold 7,000 shares of the stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $46.10, for a total transaction of $322,700.00. Following the completion of the transaction, the executive vice president now directly owns 422,428 shares of the company’s stock, valued at $19,473,930.80. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 1,994,359 shares of company stock valued at $78,968,350 and sold 24,417 shares valued at $1,091,261. Company insiders own 23.01% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Northern Trust Corp raised its position in GTT Communications by 11.2% during the 2nd quarter. Northern Trust Corp now owns 446,447 shares of the technology company’s stock worth $20,090,000 after buying an additional 45,132 shares during the last quarter. J.P. Marvel Investment Advisors LLC raised its position in GTT Communications by 11.8% during the 2nd quarter. J.P. Marvel Investment Advisors LLC now owns 31,150 shares of the technology company’s stock worth $1,402,000 after buying an additional 3,300 shares during the last quarter. Granahan Investment Management Inc. MA raised its position in GTT Communications by 67.3% during the 2nd quarter. Granahan Investment Management Inc. MA now owns 64,554 shares of the technology company’s stock worth $2,905,000 after buying an additional 25,971 shares during the last quarter. Trafelet Brokaw Capital Management L.P. raised its position in GTT Communications by 11.5% during the 2nd quarter. Trafelet Brokaw Capital Management L.P. now owns 523,191 shares of the technology company’s stock worth $23,544,000 after buying an additional 53,943 shares during the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in GTT Communications during the 2nd quarter worth approximately $213,000. 75.97% of the stock is owned by institutional investors.

Shares of NYSE:GTT traded up $1.00 during trading on Tuesday, reaching $44.35. The stock had a trading volume of 701,000 shares, compared to its average volume of 472,919. GTT Communications has a one year low of $31.15 and a one year high of $62.32. The stock has a market capitalization of $2.53 billion, a P/E ratio of 184.79 and a beta of 0.91. The company has a debt-to-equity ratio of 6.29, a quick ratio of 0.69 and a current ratio of 0.69.

About GTT Communications

GTT Communications, Inc provides cloud networking services to multinational enterprises, carriers, and government customers worldwide. The company provides private, public, and hybrid cloud network solutions; high bandwidth-Internet connectivity and IP transit, as well as broadband and wireless access services; managed equipment and security services; and voice and unified communications services consisting of SIP trunking and enterprise PBX services.

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

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