Zacks: Brokerages Anticipate GTT Communications Inc (GTT) Will Post Earnings of -$0.27 Per Share

Analysts expect GTT Communications Inc (NYSE:GTT) to announce earnings per share of ($0.27) for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for GTT Communications’ earnings. The highest EPS estimate is ($0.20) and the lowest is ($0.36). GTT Communications posted earnings of $0.04 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 775%. The company is expected to issue its next quarterly earnings results on Thursday, February 28th.

On average, analysts expect that GTT Communications will report full year earnings of ($4.20) per share for the current financial year, with EPS estimates ranging from ($4.32) to ($4.15). For the next fiscal year, analysts anticipate that the business will post earnings of $0.51 per share, with EPS estimates ranging from $0.04 to $1.35. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow GTT Communications.

GTT has been the subject of a number of recent research reports. ValuEngine upgraded shares of GTT Communications from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 1st. Zacks Investment Research raised shares of GTT Communications from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 8th. Cowen reiterated a “buy” rating and set a $54.00 target price on shares of GTT Communications in a research note on Friday, November 9th. Oppenheimer reduced their price objective on shares of GTT Communications to $50.00 and set an “outperform” rating for the company in a report on Friday, November 9th. Finally, Raymond James cut their price objective on GTT Communications from $53.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, December 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $43.78.

NYSE:GTT traded up $1.24 on Friday, hitting $32.50. The stock had a trading volume of 9,103 shares, compared to its average volume of 496,888. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 134.04, a PEG ratio of 1.82 and a beta of 1.51. GTT Communications has a 1-year low of $21.68 and a 1-year high of $62.32. The company has a debt-to-equity ratio of 6.62, a current ratio of 0.68 and a quick ratio of 0.68.

In other news, major shareholder Spruce House Partnership Lp acquired 450,000 shares of the business’s stock in a transaction on Wednesday, January 16th. The stock was bought at an average price of $24.40 per share, with a total value of $10,980,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Richard Calder sold 7,545 shares of the business’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $26.32, for a total transaction of $198,584.40. Following the transaction, the insider now owns 1,307,788 shares in the company, valued at $34,420,980.16. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 1,103,000 shares of company stock valued at $29,177,130 and have sold 28,249 shares valued at $803,573. 23.01% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Cannell Capital LLC acquired a new stake in shares of GTT Communications during the 4th quarter worth about $82,000. Parallel Advisors LLC acquired a new position in shares of GTT Communications during the third quarter valued at $100,000. Citigroup Inc. lifted its holdings in GTT Communications by 1,180.1% in the fourth quarter. Citigroup Inc. now owns 5,159 shares of the technology company’s stock worth $122,000 after purchasing an additional 4,756 shares during the period. Bessemer Group Inc. raised its position in GTT Communications by 69.9% in the fourth quarter. Bessemer Group Inc. now owns 7,400 shares of the technology company’s stock worth $175,000 after acquiring an additional 3,045 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of GTT Communications by 16.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,582 shares of the technology company’s stock valued at $179,000 after purchasing an additional 1,044 shares during the period. Institutional investors and hedge funds own 85.37% of the company’s stock.

GTT Communications Company Profile

GTT Communications, Inc provides cloud networking services to multinational enterprises, carriers, and government customers worldwide. The company provides private, public, and hybrid cloud network solutions; high bandwidth-Internet connectivity and IP transit, as well as broadband and wireless access services; managed equipment and security services; and voice and unified communications services consisting of SIP trunking and enterprise PBX services.

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