-$0.03 Earnings Per Share Expected for GTT Communications, Inc. (GTT) This Quarter
Analysts expect GTT Communications, Inc. (NYSE:GTT) to report earnings of ($0.03) per share for the current fiscal quarter, Zacks reports. Six analysts have made estimates for GTT Communications’ earnings, with the highest EPS estimate coming in at $0.01 and the lowest estimate coming in at ($0.07). GTT Communications posted earnings per share of $0.14 in the same quarter last year, which indicates a negative year over year growth rate of 121.4%. The company is scheduled to issue its next earnings report on Wednesday, November 8th.
According to Zacks, analysts expect that GTT Communications will report full-year earnings of ($0.43) per share for the current fiscal year, with EPS estimates ranging from ($0.64) to ($0.11). For the next fiscal year, analysts anticipate that the business will report earnings of $0.24 per share, with EPS estimates ranging from ($0.12) to $0.71. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow GTT Communications.
GTT Communications (NYSE:GTT) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.05. GTT Communications had a positive return on equity of 4.17% and a negative net margin of 1.88%. The firm had revenue of $186.20 million for the quarter, compared to analyst estimates of $186.65 million. GTT Communications’s quarterly revenue was up 44.5% compared to the same quarter last year.
A number of equities research analysts have recently weighed in on GTT shares. Zacks Investment Research upgraded shares of GTT Communications from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Monday, July 17th. Cowen and Company set a $43.00 price target on shares of GTT Communications and gave the company a “buy” rating in a research report on Friday, August 4th. Finally, BidaskClub downgraded shares of GTT Communications from a “sell” rating to a “strong sell” rating in a research report on Friday, August 4th. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. GTT Communications currently has an average rating of “Hold” and an average price target of $36.20.
COPYRIGHT VIOLATION WARNING: “-$0.03 Earnings Per Share Expected for GTT Communications, Inc. (GTT) This Quarter” was published by American Banking News and is the property of of American Banking News. If you are reading this piece on another site, it was illegally stolen and republished in violation of U.S. and international trademark & copyright laws. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2017/10/11/0-03-earnings-per-share-expected-for-gtt-communications-inc-gtt-this-quarter.html.
GTT Communications (GTT) traded down 1.93% during midday trading on Wednesday, hitting $33.10. The stock had a trading volume of 270,850 shares. The company’s 50 day moving average is $31.22 and its 200 day moving average is $30.03. GTT Communications has a 1-year low of $20.80 and a 1-year high of $34.20. The company’s market cap is $1.37 billion.
In related news, insider Richard Calder sold 10,000 shares of GTT Communications stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $31.99, for a total value of $319,900.00. Following the transaction, the insider now directly owns 1,121,006 shares of the company’s stock, valued at $35,860,981.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Howard E. Janzen sold 6,000 shares of GTT Communications stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $30.32, for a total transaction of $181,920.00. Following the completion of the transaction, the director now directly owns 240,728 shares in the company, valued at $7,298,872.96. The disclosure for this sale can be found here. Insiders sold 57,000 shares of company stock worth $1,774,990 over the last three months. 25.70% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in GTT. Bamco Inc. NY bought a new position in GTT Communications in the second quarter valued at approximately $42,727,000. Russell Investments Group Ltd. increased its stake in GTT Communications by 239.9% in the second quarter. Russell Investments Group Ltd. now owns 397,751 shares of the technology company’s stock valued at $12,589,000 after acquiring an additional 280,744 shares during the last quarter. Cove Street Capital LLC bought a new position in GTT Communications in the second quarter valued at approximately $8,507,000. Bank of Montreal Can increased its stake in GTT Communications by 27,059.6% in the second quarter. Bank of Montreal Can now owns 226,511 shares of the technology company’s stock valued at $7,169,000 after acquiring an additional 225,677 shares during the last quarter. Finally, Emerald Advisers Inc. PA grew its stake in shares of GTT Communications by 19.9% during the second quarter. Emerald Advisers Inc. PA now owns 1,169,966 shares of the technology company’s stock worth $37,029,000 after buying an additional 194,407 shares during the last quarter. 58.94% of the stock is currently owned by institutional investors and hedge funds.
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 MarketBeat.com's FREE daily email newsletter.