GTT Communications, Inc. (NYSE:GTT) announced its quarterly earnings results on Thursday. The technology company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01, Briefing.com reports. GTT Communications had a positive return on equity of 4.57% and a negative net margin of 2.15%. The company had revenue of $186.20 million for the quarter, compared to the consensus estimate of $186.65 million. The business’s quarterly revenue was up 44.5% on a year-over-year basis.
GTT Communications (GTT) traded up 3.51% on Thursday, hitting $30.95. The company’s stock had a trading volume of 298,890 shares. The firm’s market cap is $1.28 billion. GTT Communications has a 12 month low of $19.76 and a 12 month high of $34.20. The firm has a 50 day moving average of $31.40 and a 200 day moving average of $28.73.
In other news, Director Howard E. Janzen sold 6,000 shares of GTT Communications stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $32.84, for a total transaction of $197,040.00. Following the completion of the sale, the director now owns 246,692 shares of the company’s stock, valued at $8,101,365.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Howard E. Janzen sold 12,000 shares of GTT Communications stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $30.00, for a total transaction of $360,000.00. Following the sale, the director now directly owns 252,692 shares of the company’s stock, valued at approximately $7,580,760. The disclosure for this sale can be found here. In the last three months, insiders sold 81,000 shares of company stock valued at $2,526,110. 25.70% of the stock is owned by insiders.
GTT has been the topic of a number of research analyst reports. Cowen and Company set a $40.00 price target on GTT Communications and gave the company an “outperform” rating in a report on Friday, May 5th. Zacks Investment Research upgraded GTT Communications from a “strong sell” rating to a “hold” rating in a report on Friday, May 5th. Finally, BidaskClub upgraded GTT Communications from a “hold” rating to a “buy” rating in a report on Saturday, June 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $35.29.
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About GTT Communications
GTT Communications, Inc provides cloud networking services to a range of clients. The Company offers a portfolio of global communications services, wide area network (WAN) services; Internet services; managed network and security services, and voice and unified communication services. It provides Layer 2 (Ethernet) and Layer 3 (multiprotocol label switching (MPLS)) WAN solutions for multinational clients.
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