31 Aug Esq. Jon Cartu Claims – Zacks: Brokerages Anticipate GTT Communications Inc…
Equities analysts forecast that GTT Communications Inc (NYSE:GTT) will announce ($0.47) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for GTT Communications’ earnings, with the lowest EPS estimate coming in at ($0.51) and the highest estimate coming in at ($0.33). GTT Communications posted earnings of ($0.02) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 2,250%. The business is scheduled to report its next quarterly earnings results on Thursday, September 3rd.
On average, analysts expect that GTT Communications will report full year earnings of ($2.65) per share for the current fiscal year, with EPS estimates ranging from ($2.86) to ($2.38). For the next fiscal year, analysts forecast that the business will report earnings of ($1.67) per share, with EPS estimates ranging from ($2.30) to ($1.28). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that cover GTT Communications.
GTT has been the subject of several analyst reports. Oppenheimer reiterated a “hold” rating on shares of GTT Communications in a research note on Monday, August 10th. SunTrust Banks lowered shares of GTT Communications from a “buy” rating to a “hold” rating and decreased their target price for the company from $10.00 to $7.00 in a report on Monday, May 11th. Raymond James lowered shares of GTT Communications from an “outperform” rating to an “underperform” rating in a report on Tuesday, August 11th. Finally, Zacks Investment Research lowered shares of GTT Communications from a “hold” rating to a “sell” rating in a report on Tuesday, August 4th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $11.20.
Institutional investors and hedge funds have recently bought and sold shares of the business. Lincoln National Corp acquired a new position in shares of GTT Communications in the 1st quarter worth approximately $125,000. Public Employees Retirement Association of Colorado lifted its position in shares of GTT Communications by 21.0% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 5,916 shares of the technology company’s stock worth $47,000 after purchasing an additional 1,025 shares during the period. D.A. Davidson & CO. lifted its position in shares of GTT Communications by 4.4% in the 1st quarter. D.A. Davidson & CO. now owns 23,592 shares of the technology company’s stock worth $188,000 after purchasing an additional 990 shares during the period. Citigroup Inc. lifted its position in shares of GTT Communications by 129.9% in the 1st quarter. Citigroup Inc. now owns 16,974 shares of the technology company’s stock worth $135,000 after purchasing an additional 9,590 shares during the period. Finally, Federated Hermes Inc. lifted its position in shares of GTT Communications by 11.6% in the 1st quarter. Federated Hermes Inc. now owns 1,056,293 shares of the technology company’s stock worth $8,398,000 after purchasing an additional 110,138 shares during the period. 72.35% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:GTT traded up $0.31 during midday trading on Friday, hitting $5.24. 345,385 shares of the stock were exchanged, compared to its average volume of 541,067. GTT Communications has a one year low of $3.94 and a one year high of $15.77. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 17.88. The business has a 50-day moving average price of $6.04 and a two-hundred day moving average price of $8.95. The company has a market capitalization of $308.22 million, a price-to-earnings ratio of -1.85 and a beta of 1.52.
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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