$247.40 Million in Sales Expected for GTT Communications Inc (GTT) This Quarter

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%.

Several analysts have recently commented on GTT shares. Craig Hallum reaffirmed a “buy” rating and issued a $50.00 target price (up previously from $40.00) on shares of GTT Communications in a research report on Monday, January 22nd. Zacks Investment Research raised GTT Communications from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. Finally, Oppenheimer raised their target price on GTT Communications from $39.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. GTT Communications presently has an average rating of “Buy” and a consensus target price of $44.33.

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.

ILLEGAL ACTIVITY WARNING: This story was first posted by American Banking News and is owned by of American Banking News. If you are viewing this story on another website, it was copied illegally and reposted in violation of U.S. and international copyright law. The original version of this story can be read at https://www.americanbankingnews.com/2018/01/30/247-40-million-in-sales-expected-for-gtt-communications-inc-gtt-this-quarter.html.

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.

Get a free copy of the Zacks research report on GTT Communications (GTT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for GTT Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GTT Communications and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply