GTT Communications (NYSE:GTT) is set to issue its quarterly earnings data before the market opens on Thursday, November 8th. Analysts expect the company to announce earnings of ($0.45) per share for the quarter.
GTT Communications (NYSE:GTT) last announced its earnings results on Friday, August 3rd. The technology company reported ($0.42) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.25). GTT Communications had a negative net margin of 21.82% and a negative return on equity of 45.46%. The firm had revenue of $326.80 million during the quarter, compared to analyst estimates of $297.68 million. During the same quarter last year, the business earned $0.02 earnings per share. GTT Communications’s revenue was up 71.9% on a year-over-year basis. On average, analysts expect GTT Communications to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.
NYSE:GTT opened at $37.52 on Tuesday. GTT Communications has a 12 month low of $31.44 and a 12 month high of $62.32. The company has a debt-to-equity ratio of 6.29, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a market cap of $2.08 billion, a PE ratio of 156.33 and a beta of 1.14.
In related news, General Counsel Chris Mckee sold 2,211 shares of the firm’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $40.05, for a total transaction of $88,550.55. Following the completion of the transaction, the general counsel now owns 416,266 shares of the company’s stock, valued at $16,671,453.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Spruce House Partnership Lp bought 327,000 shares of GTT Communications stock in a transaction that occurred on Wednesday, October 24th. The shares were acquired at an average cost of $33.13 per share, with a total value of $10,833,510.00. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 3,338,392 shares of company stock valued at $129,127,640 and have sold 11,417 shares valued at $491,901. Company insiders own 23.01% of the company’s stock.
Several equities research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of GTT Communications from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 12th. William Blair reiterated a “buy” rating on shares of GTT Communications in a research note on Monday, August 6th. SunTrust Banks reiterated a “buy” rating and set a $52.00 price objective on shares of GTT Communications in a research note on Friday, August 3rd. ValuEngine upgraded shares of GTT Communications from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 17th. Finally, BWS Financial assumed coverage on shares of GTT Communications in a research note on Monday, August 6th. They set a “sell” rating and a $5.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. GTT Communications presently has an average rating of “Buy” and a consensus price target of $51.33.
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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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