UP!

GTT $2.36

GTT target price
2.36
0
0
GTT Communications, Inc.
Type
Public
Traded as NYSE: GTT
Industry Telecommunications
Founded 1998
Headquarters McLean, Virginia, United States
Area served
Worldwide
Key people
Richard D. Calder, (CEO)
Products Internet services, Telecommunications, Managed Services, Unified Communications, Voice
Number of employees
800
Website gtt.net


GTT Communications, Inc. (GTT), formerly Global Telecom and Technology, is a multinational telecommunications and internet provider company with headquarters in McLean, Virginia. GTT operates a Tier 1 network, and provides IP transit, MPLS transport services, managed services, voice and unified communications to enterprise, government, and carrier customers in over 100 countries.

In 1998, telecom services integrator and network solutions provider Global Internetworking Inc. was founded in McLean, Virginia. That same year, European Telecom and Technology was founded in London.

In April 2005, Mercator Partners Acquisition Corp., a special purpose acquisition company created by Reston-based investment bank Mercator Capital, raised $59.5 million in an initial public stock offering, intending to use the money to buy a telecommunications company. Mercator Partners bought both Global Internetworking Inc. and European Telecommunications & Technology in 2006, merging the two companies' operations and renaming itself Global Telecom & Technology, Inc. (GTT).

In December 2009, GTT acquired Denver-based WBS Connect in a stock and cash transaction, shifting its business model from being an exclusively virtual network operator and telecom solutions integrator to a network operator providing IP transit and Ethernet services.

In June 2011 GTT acquired PacketExchange, a privately held UK company and operator of a global backbone providing IP transit and MPLS transport services, for $20 million in cash.

In May 2012 GTT acquired nLayer Communications, a privately held global IP backbone, for $18 million. nLayer founder Richard Steenbergen joined GTT as CTO.

In April 2013 GTT acquired the Tier 1 IP network Tinet from Inteliquent, for $54.5 million in cash and services. In June 2013 GTT was listed on the New York Stock Exchange, under the symbol GTT.

On January 14, 2014, GTT (Global Telecom & Technology) announced that the company was officially changing its name to GTT Communications, Inc. In February 2014, GTT Communications, Inc. announced the opening of a new office in Hong Kong’s Central District, bringing its total global presence to 9 offices in 6 countries. In October 2014, GTT Communications, Inc. announced it had closed the acquisition of UNSi, a communications company providing data services to large enterprise and carrier clients.

On February 19, 2015, GTT entered into a definitive agreement to acquire MegaPath’s Managed Services business, which provides private wide-area-networking, Internet access services, managed services and managed security to multinational clients. In July 2015, GTT Communications, Inc. (GTT) and Saudi Telecom Company (STC) jointly announced 100-Gigabit IP Transit connectivity services to the Middle East. On October 22, 2015, GTT acquired One Source Networks (OSN), a provider of global data, Internet, Session Initiation Protocol (SIP) trunking and managed services to Fortune 1000 companies.

On February 9, 2016, GTT acquired Telnes Broadband for $18 million. On October 7, 2016, GTT announced the award of Government Services Administrations (GSA) IT Schedule 70 Contract. The IT Schedule 70 is the largest acquisition vehicle in the United States federal government.

On January 9, 2017, GTT completed the acquisition of Hibernia Networks for $590 million. The company acquired five subsea cables, including Hibernia Express, the lowest latency transatlantic cable system, and eight cable landing standings. By May, the company had 23 offices located around the world and over 300 points of presence. In May, GTT bought IP broker and aggregator Giglinx, for $21 million. On June 19, GTT announced it was acquiring Perseus Telecom, a microwave service provider for financial services companies, for $37.5 million. On June 26, GTT announced it was acquiring Massachusetts-based telecommunications provider Global Capacity, for $100 million and 1.85 million shares of GTT common stock. The deal closed on September 18, 2017, and was expected to help GTT expand its SD-WAN and data center services.

The company's Optical Transport services group utilizes its subsea and terrestrial fiber network and DWDM platform to provide dedicated connectivity between global customers. The network has over 75 point of presence locations (PoPs) in North America and Europe.

As of 2014, GTT was one of the five largest Internet backbones in terms of traffic. The company's high speed Internet services include IP Transit, Dedicated Internet Access and Broadband Internet services. With more than 165,000 routes, GTT directly connects to one-third of global Internet prefixes. GTT also operates a 100% native dual stack (IPv4 and IPv6) carrier class network built on optical infrastructure.

GTT provides private networking and WAN services, including MPLS, VPLS and Ethernet. The company’s Tier 1 global network reportedly extends to more than 300 point of presence locations (PoPs) in over 80 countries.

GTT offers end-to-end network management, with managed services that include Managed Network Services, Multilayered Security Services, Managed Secure Access, and Managed Software-Defined Wide Area Network (SD-WAN) services.

GTT's IP-based communication and collaboration services include SIP Trunking, Hosted Enterprise PBX, and Cloud-based call and contact center, and call routing capabilities.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q1 2020 2020-05-08 -1.45 -1.45
Q4 2019 2020-03-02 -0.34 -0.34
Q3 2019 2019-11-12 -0.46 -0.46
Q2 2019 2019-08-08 -0.59 -0.59
Q1 2019 2019-05-08 -0.49 -0.49
Q4 2018 2019-02-28 -0.96 -0.96
Q3 2018 2018-11-08 -0.43 -0.43
Q2 2018 2018-08-03 -2.83 -2.83

Ratings

2016-05-14 Reiterated Rating Jefferies Group Buy
2016-05-10 Reiterated Rating Drexel Hamilton Buy
2016-02-18 Initiated Coverage SunTrust Buy $27.00
2016-02-18 Initiated Coverage SunTrust Banks Inc. Buy $27.00
2016-02-08 Reiterated Rating Oppenheimer Outperform
2016-02-08 Reiterated Rating Oppenheimer Holdings Inc. Outperform
2016-01-07 Initiated Coverage Stephens Overweight $28.00
2015-11-16 Lower Price Target Natixis Buy $65.00 to $56.00
2015-11-04 Upgrade Drexel Hamilton Hold to Buy
2015-10-12 Initiated Coverage Cowen and Company Outperform $31.00
2015-09-16 Boost Price Target Pacific Crest Overweight $31.00 to $37.00
2015-08-07 Boost Price Target Pacific Crest Overweight $24.00 to $31.00
2015-07-14 Downgrade Drexel Hamilton Buy to Hold
2015-06-22 Reiterated Rating Craig Hallum Buy $26.00
2015-06-18 Initiated Coverage Oppenheimer Outperform $26.00
2015-05-11 Boost Price Target Jefferies Group Buy $21.00 to $22.00
2015-03-11 Boost Price Target Pacific Crest Outperform $18.00 to $24.00
2015-01-09 Initiated Coverage Jefferies Group Buy $16.00
2014-06-04 Initiated William Blair Outperform
2014-06-04 Initiated Coverage Pacific Crest Outperform $16.00
2014-06-03 Initiated Coverage William Blair Outperform $64.00 to $157.00
2014-04-09 Initiated Coverage Natixis Neutral
2013-12-17 Initiated Coverage Craig Hallum Buy
2016-05-14 Reiterated Rating Jefferies Group Buy
2016-05-10 Reiterated Rating Drexel Hamilton Buy
2016-02-18 Initiated Coverage SunTrust Buy $27.00
2016-02-18 Initiated Coverage SunTrust Banks Inc. Buy $27.00
2016-02-08 Reiterated Rating Oppenheimer Outperform

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks