GTT Communications Inc (GTT) to Post FY2017 Earnings of ($0.77) Per Share, KeyCorp Forecasts

GTT Communications Inc (NYSE:GTT) – Investment analysts at KeyCorp lifted their FY2017 EPS estimates for shares of GTT Communications in a note issued to investors on Wednesday. KeyCorp analyst B. Nispel now anticipates that the technology company will earn ($0.77) per share for the year, up from their prior estimate of ($0.78). KeyCorp also issued estimates for GTT Communications’ Q4 2017 earnings at ($0.15) EPS, Q1 2018 earnings at ($0.14) EPS, Q2 2018 earnings at ($0.09) EPS, Q3 2018 earnings at ($0.05) EPS, Q4 2018 earnings at ($0.01) EPS, FY2018 earnings at ($0.29) EPS and FY2019 earnings at $0.07 EPS.

GTT Communications (NYSE:GTT) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.07. GTT Communications had a positive return on equity of 1.89% and a negative net margin of 3.78%.

Several other analysts have also recently issued reports on the company. Zacks Investment Research cut GTT Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Oppenheimer upped their price objective on GTT Communications from $39.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, December 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $40.20.

Shares of GTT Communications (GTT) opened at $42.40 on Monday. GTT Communications has a one year low of $22.95 and a one year high of $47.75. The stock has a market capitalization of $1,842.49, a P/E ratio of -65.23, a price-to-earnings-growth ratio of 19.38 and a beta of 1.48. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 4.08.

In other news, Director S Joseph Bruno sold 1,000 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 108,467 shares in the company, valued at approximately $4,392,913.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Richard Calder sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $36.33, for a total value of $363,300.00. Following the sale, the insider now owns 1,113,679 shares in the company, valued at $40,459,958.07. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock worth $1,341,960 in the last 90 days. 25.70% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in GTT. Spruce House Investment Management LLC acquired a new stake in shares of GTT Communications during the 3rd quarter worth approximately $59,723,000. Bamco Inc. NY acquired a new stake in shares of GTT Communications during the 2nd quarter worth approximately $42,727,000. Cove Street Capital LLC acquired a new stake in shares of GTT Communications during the 2nd quarter worth approximately $8,507,000. Castleark Management LLC raised its position in shares of GTT Communications by 40.1% during the 2nd quarter. Castleark Management LLC now owns 472,769 shares of the technology company’s stock worth $14,963,000 after purchasing an additional 135,407 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of GTT Communications by 11.4% during the 2nd quarter. Vanguard Group Inc. now owns 1,228,307 shares of the technology company’s stock worth $38,876,000 after purchasing an additional 126,032 shares during the period. Institutional investors and hedge funds own 65.41% 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.

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

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