Brokerages expect that GTT Communications Inc (NYSE:GTT) will post earnings of ($0.13) per share for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for GTT Communications’ earnings, with estimates ranging from ($0.15) to ($0.11). GTT Communications reported earnings per share of ($0.02) during the same quarter last year, which suggests a negative year over year growth rate of 550%. The company is scheduled to announce its next quarterly earnings report on Wednesday, March 14th.
According to Zacks, 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 year, analysts anticipate that the business will post earnings of $0.07 per share, with EPS estimates ranging from ($0.29) to $0.32. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for GTT Communications.
Several research analysts have recently issued reports on the company. Zacks Investment Research upgraded GTT Communications from a “hold” rating to a “strong-buy” rating and set a $49.00 price target on the stock in a research report on Tuesday, January 23rd. Craig Hallum reaffirmed a “buy” rating and issued a $50.00 target price (up previously from $40.00) on shares of GTT Communications in a research report on Monday, January 22nd. Finally, Oppenheimer lifted their target price on GTT Communications from $39.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $46.00.
Several large investors have recently modified their holdings of the company. American International Group Inc. boosted its holdings in shares of GTT Communications by 8.1% during the third quarter. American International Group Inc. now owns 20,768 shares of the technology company’s stock worth $657,000 after acquiring an additional 1,552 shares during the period. Voya Investment Management LLC boosted its holdings in shares of GTT Communications by 18.9% during the second quarter. Voya Investment Management LLC now owns 13,789 shares of the technology company’s stock worth $436,000 after acquiring an additional 2,193 shares during the period. Swiss National Bank boosted its holdings in shares of GTT Communications by 4.5% during the fourth quarter. Swiss National Bank now owns 52,900 shares of the technology company’s stock worth $2,484,000 after acquiring an additional 2,300 shares during the period. Cadence Capital Management LLC boosted its holdings in shares of GTT Communications by 5.1% during the third quarter. Cadence Capital Management LLC now owns 52,526 shares of the technology company’s stock worth $1,662,000 after acquiring an additional 2,528 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of GTT Communications by 52.2% during the third quarter. JPMorgan Chase & Co. now owns 7,950 shares of the technology company’s stock worth $250,000 after acquiring an additional 2,726 shares during the period. Institutional investors own 64.15% of the company’s stock.
Shares of GTT Communications (NYSE:GTT) opened at $44.55 on Wednesday. The company has a market capitalization of $1,938.10, a price-to-earnings ratio of -68.54, a PEG ratio of 17.58 and a beta of 1.22. GTT Communications has a 52 week low of $22.95 and a 52 week high of $47.75. The company has a debt-to-equity ratio of 4.08, a current ratio of 0.91 and a quick ratio of 0.91.
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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.
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