GTT Communications (GTT) to Release Earnings on Thursday

Share on StockTwits

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.

COPYRIGHT VIOLATION NOTICE: This news story was posted by Macon Daily and is owned by of Macon Daily. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & international copyright & trademark laws. The correct version of this news story can be viewed at https://macondaily.com/2018/11/06/gtt-communications-gtt-to-release-earnings-on-thursday.html.

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.

Read More: How analysts view the yield curve

Earnings History for GTT Communications (NYSE:GTT)

Receive News & Ratings for GTT Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GTT Communications and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply