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.

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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.

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

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