Zacks: Analysts Anticipate GTT Communications Inc (GTT) Will Announce Quarterly Sales of $247.75 Million

Wall Street brokerages expect GTT Communications Inc (NYSE:GTT) to announce sales of $247.75 million for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for GTT Communications’ earnings, with the highest sales estimate coming in at $249.30 million and the lowest estimate coming in at $245.72 million. GTT Communications reported sales of $136.50 million during the same quarter last year, which would suggest a positive year over year growth rate of 81.5%. The firm is expected to issue its next earnings report on Wednesday, March 14th.

On average, analysts expect that GTT Communications will report full year sales of $247.75 million for the current financial year, with estimates ranging from $813.22 million to $816.80 million. For the next financial year, analysts anticipate that the firm will report sales of $1.02 billion per share, with estimates ranging from $1.00 billion to $1.04 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for GTT Communications.

A number of equities analysts recently commented on GTT shares. Zacks Investment Research cut shares of GTT Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Oppenheimer lifted their price objective on shares of GTT Communications from $39.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $40.20.

In related news, Director S Joseph Bruno sold 1,000 shares of GTT Communications stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $40.50, for a total transaction of $40,500.00. Following the completion of the sale, the director now owns 108,467 shares in the company, valued at approximately $4,392,913.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Richard Calder sold 10,000 shares of GTT Communications stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $31.99, for a total transaction of $319,900.00. Following the sale, the insider now owns 1,121,006 shares of the company’s stock, valued at approximately $35,860,981.94. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 81,000 shares of company stock valued at $63,250 and have sold 67,000 shares valued at $1,885,790. Company insiders own 25.70% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bamco Inc. NY raised its holdings in shares of GTT Communications by 68.8% in the 3rd quarter. Bamco Inc. NY now owns 2,278,200 shares of the technology company’s stock valued at $72,105,000 after purchasing an additional 928,200 shares in the last quarter. Boothbay Fund Management LLC bought a new stake in shares of GTT Communications in the 3rd quarter valued at about $2,046,000. Oppenheimer Asset Management Inc. raised its holdings in shares of GTT Communications by 144.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 23,107 shares of the technology company’s stock valued at $731,000 after purchasing an additional 13,644 shares in the last quarter. Lyon Street Capital LLC raised its holdings in shares of GTT Communications by 9.2% in the 3rd quarter. Lyon Street Capital LLC now owns 308,255 shares of the technology company’s stock valued at $9,756,000 after purchasing an additional 25,944 shares in the last quarter. Finally, Spruce House Investment Management LLC bought a new stake in shares of GTT Communications in the 3rd quarter valued at about $59,723,000. Institutional investors own 65.41% of the company’s stock.

GTT Communications (NYSE GTT) opened at $45.95 on Wednesday. GTT Communications has a 52 week low of $22.95 and a 52 week high of $47.75. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 4.08. The company has a market cap of $1,916.37, a PE ratio of -70.69 and a beta of 1.48.

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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.

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

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