GTT Communications, Inc. (GTT) to Post FY2019 Earnings of $1.01 Per Share, SunTrust Banks Forecasts

GTT Communications, Inc. (NYSE:GTT) – Equities researchers at SunTrust Banks issued their FY2019 earnings per share (EPS) estimates for GTT Communications in a research report issued to clients and investors on Wednesday. SunTrust Banks analyst G. Miller forecasts that the technology company will post earnings per share of $1.01 for the year.

Separately, Zacks Investment Research raised GTT Communications from a “sell” rating to a “hold” rating in a report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $36.20.

Shares of GTT Communications (NYSE:GTT) traded up $0.30 on Monday, hitting $40.10. The stock had a trading volume of 313,216 shares, compared to its average volume of 269,956. The firm has a market cap of $1,742.55, a P/E ratio of 445.56 and a beta of 1.48. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 4.08. GTT Communications has a fifty-two week low of $22.95 and a fifty-two week high of $41.00.

In other GTT Communications news, insider Richard Calder sold 10,000 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $31.99, for a total transaction of $319,900.00. Following the transaction, the insider now owns 1,121,006 shares of the company’s stock, valued at approximately $35,860,981.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Mcmullen Family Trust acquired 60,000 shares of GTT Communications stock in a transaction on Tuesday, November 21st. The shares were purchased at an average cost of $0.65 per share, for a total transaction of $39,000.00. Over the last three months, insiders bought 81,000 shares of company stock worth $63,250 and sold 107,000 shares worth $1,981,090. 25.70% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of the business. Bamco Inc. NY lifted its holdings in GTT Communications by 68.8% during the 3rd quarter. Bamco Inc. NY now owns 2,278,200 shares of the technology company’s stock worth $72,105,000 after buying an additional 928,200 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in GTT Communications during the 3rd quarter worth $2,046,000. Oppenheimer Asset Management Inc. lifted its holdings in GTT Communications by 144.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 23,107 shares of the technology company’s stock worth $731,000 after buying an additional 13,644 shares in the last quarter. Lyon Street Capital LLC lifted its holdings in GTT Communications by 9.2% during the 3rd quarter. Lyon Street Capital LLC now owns 308,255 shares of the technology company’s stock worth $9,756,000 after buying an additional 25,944 shares in the last quarter. Finally, Spruce House Investment Management LLC acquired a new position in GTT Communications during the 3rd quarter worth $59,723,000. 65.42% of the stock is currently owned by hedge funds and other institutional investors.

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GTT Communications Company Profile

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.

Earnings History and Estimates for GTT Communications (NYSE:GTT)

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