Zacks: Analysts Anticipate GTT Communications Inc (GTT) to Post $0.03 EPS

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Wall Street analysts expect GTT Communications Inc (NYSE:GTT) to announce earnings per share (EPS) of $0.03 for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for GTT Communications’ earnings, with estimates ranging from ($0.23) to $0.25. GTT Communications posted earnings of ($0.42) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 107.1%. The business is scheduled to announce its next quarterly earnings results on Friday, August 2nd.

According to Zacks, analysts expect that GTT Communications will report full year earnings of ($0.34) per share for the current year, with EPS estimates ranging from ($0.61) to ($0.12). For the next fiscal year, analysts expect that the company will post earnings of $0.89 per share, with EPS estimates ranging from $0.36 to $1.81. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for GTT Communications.

GTT Communications (NYSE:GTT) last released its quarterly earnings results on Thursday, February 28th. The technology company reported ($0.22) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.05. The company had revenue of $454.80 million during the quarter, compared to analysts’ expectations of $453.79 million. GTT Communications had a negative net margin of 14.28% and a negative return on equity of 16.23%.

Several equities research analysts recently commented on GTT shares. Zacks Investment Research raised GTT Communications from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research report on Wednesday, May 1st. ValuEngine cut GTT Communications from a “buy” rating to a “hold” rating in a research report on Monday. Oppenheimer dropped their price objective on GTT Communications from $50.00 to $42.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Finally, BTIG Research cut GTT Communications from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. GTT Communications presently has a consensus rating of “Buy” and an average target price of $41.75.

In other news, insider Richard Calder sold 1,107 shares of the firm’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $31.06, for a total value of $34,383.42. Following the transaction, the insider now owns 1,307,568 shares of the company’s stock, valued at $40,613,062.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael Sicoli sold 1,902 shares of the firm’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $32.43, for a total value of $61,681.86. Following the completion of the transaction, the chief financial officer now directly owns 376,614 shares in the company, valued at approximately $12,213,592.02. The disclosure for this sale can be found here. Insiders sold 27,421 shares of company stock worth $986,980 in the last ninety days. Corporate insiders own 40.84% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Spruce House Investment Management LLC increased its position in GTT Communications by 13.5% during the 1st quarter. Spruce House Investment Management LLC now owns 12,375,000 shares of the technology company’s stock valued at $429,413,000 after buying an additional 1,475,000 shares in the last quarter. Goodnow Investment Group LLC acquired a new position in GTT Communications during the 1st quarter valued at about $3,634,000. Geode Capital Management LLC increased its position in GTT Communications by 7.7% during the 1st quarter. Geode Capital Management LLC now owns 421,756 shares of the technology company’s stock valued at $14,634,000 after buying an additional 30,248 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in GTT Communications by 6.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 211,282 shares of the technology company’s stock valued at $7,332,000 after buying an additional 11,879 shares in the last quarter. Finally, Williams Jones & Associates LLC increased its position in GTT Communications by 7.4% during the 1st quarter. Williams Jones & Associates LLC now owns 657,810 shares of the technology company’s stock valued at $22,826,000 after buying an additional 45,101 shares in the last quarter. 85.37% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:GTT traded down $0.79 during midday trading on Wednesday, reaching $26.83. The company had a trading volume of 475,418 shares, compared to its average volume of 421,754. The company has a debt-to-equity ratio of 9.77, a quick ratio of 0.62 and a current ratio of 0.60. The company has a market capitalization of $1.52 billion, a P/E ratio of -16.87 and a beta of 1.50. GTT Communications has a 52-week low of $21.68 and a 52-week high of $52.45.

GTT Communications Company Profile

GTT Communications, Inc provides cloud networking services to multinational enterprises, carriers, and government customers in the United States, Europe, and internationally. The company offers private, public, and hybrid cloud network solutions; high bandwidth-Internet connectivity and IP transit, as well as broadband and wireless Internet access services; managed equipment, security, and hosting services; and voice services consisting of session initiation protocol trunking and hosted private branch exchange services.

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