-$0.20 EPS Expected for GTT Communications Inc (NYSE:GTT) This Quarter

Equities research analysts predict that GTT Communications Inc (NYSE:GTT) will announce ($0.20) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for GTT Communications’ earnings. The lowest EPS estimate is ($0.24) and the highest is ($0.11). GTT Communications reported earnings of ($0.43) per share in the same quarter last year, which suggests a positive year over year growth rate of 53.5%. The business is expected to report its next earnings results before the market opens on Tuesday, November 12th.

On average, analysts expect that GTT Communications will report full-year earnings of ($1.33) per share for the current year, with EPS estimates ranging from ($1.44) to ($1.15). For the next fiscal year, analysts anticipate that the business will post earnings of ($0.23) per share, with EPS estimates ranging from ($0.46) to $0.05. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow GTT Communications.

GTT Communications (NYSE:GTT) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported ($0.59) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.55). GTT Communications had a negative net margin of 7.66% and a negative return on equity of 13.01%. The company had revenue of $433.80 million for the quarter, compared to analysts’ expectations of $447.66 million. During the same quarter in the previous year, the firm posted ($2.83) EPS. The firm’s quarterly revenue was up 32.7% compared to the same quarter last year.

Several brokerages have recently commented on GTT. SunTrust Banks lowered their price objective on GTT Communications from $42.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Cowen cut their target price on GTT Communications from $37.00 to $21.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. ValuEngine raised GTT Communications from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Raymond James cut GTT Communications from an “outperform” rating to a “market perform” rating and set a $11.50 target price on the stock. in a research note on Monday, August 12th. Finally, Craig Hallum cut GTT Communications from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $29.31.

In related news, Director Julius W. Erving II bought 5,100 shares of the stock in a transaction on Tuesday, September 3rd. The stock was bought at an average price of $9.82 per share, for a total transaction of $50,082.00. Following the completion of the acquisition, the director now directly owns 25,502 shares in the company, valued at $250,429.64. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Spruce House Partnership Lp bought 1,050,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were bought at an average price of $9.14 per share, with a total value of $9,597,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 1,878,163 shares of company stock valued at $16,327,396 and have sold 36,063 shares valued at $271,420. 40.84% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of GTT. Macquarie Group Ltd. lifted its holdings in GTT Communications by 68.3% during the second quarter. Macquarie Group Ltd. now owns 10,600 shares of the technology company’s stock worth $186,000 after buying an additional 4,300 shares during the period. Athena Capital Advisors LLC purchased a new stake in shares of GTT Communications during the 2nd quarter valued at $189,000. First Business Financial Services Inc. purchased a new stake in shares of GTT Communications during the 2nd quarter valued at $222,000. First Allied Advisory Services Inc. purchased a new stake in shares of GTT Communications during the 3rd quarter valued at $226,000. Finally, Balyasny Asset Management LLC purchased a new stake in shares of GTT Communications during the 2nd quarter valued at $277,000. Institutional investors own 84.13% of the company’s stock.

Shares of GTT Communications stock traded up $0.36 during trading hours on Thursday, hitting $8.16. The company’s stock had a trading volume of 545,215 shares, compared to its average volume of 616,623. The business has a 50 day moving average price of $7.88 and a two-hundred day moving average price of $16.45. GTT Communications has a 12-month low of $4.90 and a 12-month high of $43.35. The company has a market cap of $441.31 million, a PE ratio of -5.13 and a beta of 1.51. The company has a debt-to-equity ratio of 9.85, a quick ratio of 0.57 and a current ratio of 0.57.

About GTT Communications

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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