William Blair Weighs in on GTT Communications Inc.’s FY2017 Earnings (GTT)
GTT Communications Inc. (NYSE:GTT) – William Blair lifted their FY2017 EPS estimates for GTT Communications in a research note issued to investors on Thursday. William Blair analyst J. Breen now forecasts that the firm will post earnings per share of $0.66 for the year, up from their prior forecast of $0.64.
Other analysts have also issued reports about the company. Jefferies Group reissued a “buy” rating on shares of GTT Communications in a report on Saturday, August 6th. Drexel Hamilton set a $28.00 price objective on GTT Communications and gave the stock a “buy” rating in a report on Wednesday, September 28th. Finally, Pacific Crest set a $37.00 price objective on GTT Communications and gave the stock a “buy” rating in a report on Friday, September 23rd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $32.14.
Shares of GTT Communications (NYSE:GTT) remained flat at $23.00 during trading on Friday. The company had a trading volume of 349,374 shares. The firm has a 50 day moving average of $22.92 and a 200 day moving average of $20.17. The firm has a market capitalization of $854.50 million, a P/E ratio of 25.96 and a beta of 1.68. GTT Communications has a 52-week low of $12.31 and a 52-week high of $24.85.
In other GTT Communications news, General Counsel Chris Mckee sold 7,000 shares of the stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $21.65, for a total transaction of $151,550.00. Following the sale, the general counsel now owns 442,178 shares in the company, valued at $9,573,153.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Richard Calder sold 10,000 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $23.24, for a total value of $232,400.00. Following the sale, the insider now owns 1,299,964 shares in the company, valued at approximately $30,211,163.36. The disclosure for this sale can be found here. Company insiders own 29.86% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Granahan Investment Management Inc. MA increased its stake in GTT Communications by 8.1% in the first quarter. Granahan Investment Management Inc. MA now owns 172,006 shares of the company’s stock valued at $2,845,000 after buying an additional 12,900 shares in the last quarter. A.R.T. Advisors LLC bought a new stake in GTT Communications during the first quarter valued at about $1,068,000. AlphaOne Investment Services LLC increased its stake in GTT Communications by 11.2% in the first quarter. AlphaOne Investment Services LLC now owns 255,176 shares of the company’s stock valued at $4,221,000 after buying an additional 25,631 shares in the last quarter. Boothbay Fund Management LLC increased its stake in GTT Communications by 7.6% in the first quarter. Boothbay Fund Management LLC now owns 21,026 shares of the company’s stock valued at $348,000 after buying an additional 1,493 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its stake in GTT Communications by 11.3% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 855,261 shares of the company’s stock valued at $15,805,000 after buying an additional 86,620 shares in the last quarter. Hedge funds and other institutional investors own 61.96% of the company’s stock.
About GTT Communications
GTT Communications, Inc is a provider of cloud networking services. The Company offers a portfolio of global communications services, including EtherCloud wide area network services; Internet services; managed network and security services, and voice and unified communication services. The Company provides Layer 2 (Ethernet) and Layer 3 (multiprotocol label switching (MPLS)) solutions to meet the needs of multinational clients.
Receive News & Stock Ratings for GTT Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GTT Communications Inc. and related stocks with our FREE daily email newsletter.