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.
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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