Brokerages predict that GTT Communications Inc (NYSE:GTT) will report sales of $247.40 million for the current fiscal quarter, according to Zacks. Six analysts have made estimates for GTT Communications’ earnings. The highest sales estimate is $249.30 million and the lowest is $245.72 million. GTT Communications posted sales of $136.50 million in the same quarter last year, which suggests a positive year-over-year growth rate of 81.2%. The company is scheduled to report its next earnings results on Wednesday, March 14th.
On average, analysts expect that GTT Communications will report full-year sales of $247.40 million for the current fiscal year, with estimates ranging from $813.22 million to $816.80 million. For the next financial year, analysts anticipate that the business will report sales of $1.02 billion per share, with estimates ranging from $1.00 billion to $1.04 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow GTT Communications.
GTT Communications (NYSE:GTT) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.07. GTT Communications had a positive return on equity of 1.89% and a negative net margin of 3.78%.
In related news, General Counsel Chris Mckee sold 7,000 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $36.34, for a total transaction of $254,380.00. Following the completion of the sale, the general counsel now directly owns 391,517 shares in the company, valued at $14,227,727.78. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Richard Calder sold 10,000 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $36.33, for a total value of $363,300.00. Following the sale, the insider now owns 1,113,679 shares of the company’s stock, valued at $40,459,958.07. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,000 shares of company stock valued at $1,341,960. 25.70% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Legal & General Group Plc raised its holdings in shares of GTT Communications by 14.1% during the second quarter. Legal & General Group Plc now owns 7,353 shares of the technology company’s stock worth $234,000 after acquiring an additional 907 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of GTT Communications by 52.2% during the third quarter. JPMorgan Chase & Co. now owns 7,950 shares of the technology company’s stock worth $250,000 after acquiring an additional 2,726 shares in the last quarter. Laurion Capital Management LP purchased a new stake in shares of GTT Communications during the second quarter worth $266,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of GTT Communications during the second quarter worth $270,000. Finally, ClariVest Asset Management LLC raised its holdings in shares of GTT Communications by 79.2% during the third quarter. ClariVest Asset Management LLC now owns 8,600 shares of the technology company’s stock worth $272,000 after acquiring an additional 3,800 shares in the last quarter. Institutional investors and hedge funds own 65.26% of the company’s stock.
Shares of GTT Communications (GTT) opened at $46.70 on Tuesday. The company has a market capitalization of $2,033.70, a price-to-earnings ratio of 520.00, a PEG ratio of 18.44 and a beta of 1.48. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 4.08. GTT Communications has a 12-month low of $22.95 and a 12-month high of $47.75.
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About GTT Communications
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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