GTT Communications Inc (NYSE:GTT) Director H Brian Thompson purchased 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The shares were bought at an average price of $33.96 per share, with a total value of $679,200.00. Following the completion of the acquisition, the director now owns 600,503 shares of the company’s stock, valued at approximately $20,393,081.88. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
GTT opened at $35.15 on Tuesday. GTT Communications Inc has a fifty-two week low of $28.30 and a fifty-two week high of $62.32. The company has a debt-to-equity ratio of 5.96, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 138.65 and a beta of 0.99.
GTT Communications (NYSE:GTT) last posted its quarterly earnings results on Friday, August 3rd. The technology company reported ($0.42) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.25). GTT Communications had a negative return on equity of 0.40% and a negative net margin of 9.96%. The business had revenue of $326.80 million for the quarter, compared to analyst estimates of $297.68 million. During the same quarter in the prior year, the firm earned $0.02 EPS. The firm’s quarterly revenue was up 71.9% on a year-over-year basis. sell-side analysts anticipate that GTT Communications Inc will post -1.35 EPS for the current fiscal year.
Several analysts recently commented on the stock. ValuEngine upgraded shares of GTT Communications from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 2nd. Raymond James initiated coverage on shares of GTT Communications in a research note on Monday, April 30th. They issued an “outperform” rating and a $60.00 target price for the company. KeyCorp upgraded shares of GTT Communications from a “sector weight” rating to an “overweight” rating and set a $57.00 target price for the company in a research note on Friday, May 4th. Zacks Investment Research lowered shares of GTT Communications from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 12th. Finally, William Blair reissued a “buy” rating on shares of GTT Communications in a research report on Monday, August 6th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $52.11.
About GTT Communications
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.
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