Equities research analysts expect GTT Communications Inc (NYSE:GTT) to announce $247.40 million in sales for the current fiscal quarter, Zacks reports. Six analysts have made 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 81.2%. The company is scheduled to announce its next earnings report before the market opens on Thursday, March 1st.
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 expect that the company will post 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 research firms that follow GTT Communications.
Several equities analysts have commented on GTT shares. Craig Hallum reiterated a “buy” rating and set a $50.00 price objective (up previously from $40.00) on shares of GTT Communications in a research report on Monday, January 22nd. Zacks Investment Research upgraded shares of GTT Communications from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, Oppenheimer increased their price objective on shares of GTT Communications from $39.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $46.00.
In related news, General Counsel Chris Mckee sold 7,000 shares of GTT Communications stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $39.54, for a total transaction of $276,780.00. Following the completion of the sale, the general counsel now owns 487,928 shares in the company, valued at approximately $19,292,673.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the director now owns 108,467 shares of the company’s stock, valued at approximately $4,392,913.50. The disclosure for this sale can be found here. Insiders sold a total of 18,000 shares of company stock valued at $712,580 in the last 90 days. Company insiders own 25.70% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wealthsource Partners LLC bought a new stake in GTT Communications during the 4th quarter valued at about $203,000. MetLife Investment Advisors LLC bought a new stake in GTT Communications during the 4th quarter valued at about $691,000. Lyon Street Capital LLC lifted its holdings in GTT Communications by 7.9% during the 4th quarter. Lyon Street Capital LLC now owns 332,486 shares of the technology company’s stock valued at $15,610,000 after buying an additional 24,231 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in GTT Communications during the 4th quarter valued at about $452,000. Finally, Deutsche Bank AG lifted its holdings in GTT Communications by 15.0% during the 4th quarter. Deutsche Bank AG now owns 174,520 shares of the technology company’s stock valued at $8,192,000 after buying an additional 22,828 shares in the last quarter. Institutional investors own 64.60% of the company’s stock.
GTT Communications (NYSE:GTT) remained flat at $$46.65 during mid-day trading on Friday. 172,900 shares of the company’s stock were exchanged, compared to its average volume of 261,745. GTT Communications has a 1-year low of $22.95 and a 1-year high of $47.75. The company has a debt-to-equity ratio of 4.08, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $2,027.18, a P/E ratio of 518.33, a price-to-earnings-growth ratio of 18.38 and a beta of 1.22.
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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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