Zacks: Analysts Anticipate GTT Communications Inc (GTT) Will Announce Earnings of -$0.13 Per Share

Brokerages forecast that GTT Communications Inc (NYSE:GTT) will post earnings per share (EPS) of ($0.13) for the current quarter, Zacks reports. Six analysts have made estimates for GTT Communications’ earnings, with the lowest EPS estimate coming in at ($0.15) and the highest estimate coming in at ($0.11). GTT Communications reported earnings per share of ($0.02) during the same quarter last year, which would suggest a negative year-over-year growth rate of 550%. The company is scheduled to announce its next earnings report on Wednesday, March 14th.

On average, analysts expect that GTT Communications will report full year earnings of ($0.77) per share for the current financial year, with EPS estimates ranging from ($0.77) to ($0.76). For the next fiscal year, analysts forecast that the company will post earnings of $0.07 per share, with EPS estimates ranging from ($0.29) to $0.32. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for GTT Communications.

GTT Communications (NYSE:GTT) last issued its earnings results on Thursday, November 2nd. The technology company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%.

A number of equities analysts have recently weighed in on GTT shares. Zacks Investment Research cut GTT Communications from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Oppenheimer increased their price target on GTT Communications from $39.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, December 20th. Finally, Craig Hallum reiterated a “buy” rating and set a $50.00 price target (up from $40.00) on shares of GTT Communications in a report on Monday, January 22nd. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $44.33.

GTT Communications (NYSE GTT) traded up $0.15 during midday trading on Friday, hitting $46.80. The stock had a trading volume of 193,293 shares, compared to its average volume of 263,838. The stock has a market cap of $2,027.18, a PE ratio of -72.00, a PEG ratio of 18.38 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. GTT Communications has a fifty-two week low of $22.95 and a fifty-two week high of $47.75.

In related news, General Counsel Chris Mckee sold 7,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $39.54, for a total transaction of $276,780.00. Following the completion of the transaction, the general counsel now directly owns 487,928 shares in the company, valued at approximately $19,292,673.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mcmullen Family Trust bought 60,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were purchased at an average price of $0.65 per share, with a total value of $39,000.00. Over the last quarter, insiders have sold 50,000 shares of company stock valued at $1,341,960. Company insiders own 25.70% of the company’s stock.

A number of institutional investors have recently made changes to their positions in GTT. Legal & General Group Plc boosted its stake in shares of GTT Communications by 14.1% in the 2nd quarter. Legal & General Group Plc now owns 7,353 shares of the technology company’s stock valued at $234,000 after buying an additional 907 shares during the period. American International Group Inc. boosted its stake in shares of GTT Communications by 8.1% in the 3rd quarter. American International Group Inc. now owns 20,768 shares of the technology company’s stock valued at $657,000 after buying an additional 1,552 shares during the period. Voya Investment Management LLC boosted its stake in shares of GTT Communications by 18.9% in the 2nd quarter. Voya Investment Management LLC now owns 13,789 shares of the technology company’s stock valued at $436,000 after buying an additional 2,193 shares during the period. Cadence Capital Management LLC boosted its stake in shares of GTT Communications by 5.1% in the 3rd quarter. Cadence Capital Management LLC now owns 52,526 shares of the technology company’s stock valued at $1,662,000 after buying an additional 2,528 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of GTT Communications by 52.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,950 shares of the technology company’s stock valued at $250,000 after buying an additional 2,726 shares during the period. Institutional investors own 65.24% of the company’s stock.

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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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