Wall Street analysts expect GTT Communications Inc (NYSE:GTT) to report sales of $247.40 million for the current quarter, Zacks reports. Six analysts have provided estimates for GTT Communications’ earnings, with the lowest sales estimate coming in at $245.72 million and the highest estimate coming in at $249.30 million. GTT Communications reported sales of $136.50 million in the same quarter last year, which indicates a positive year over year growth rate of 81.2%. The company is expected to report its next quarterly earnings report on Wednesday, March 14th.

On average, analysts expect that GTT Communications will report full-year sales of $247.40 million for the current year, with estimates ranging from $813.22 million to $816.80 million. For the next financial year, analysts expect that the business will post sales of $1.02 billion per share, with estimates ranging from $1.00 billion to $1.04 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for GTT Communications.

GTT Communications (NYSE:GTT) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.07. GTT Communications had a negative net margin of 3.78% and a positive return on equity of 1.89%.

GTT has been the topic of several research reports. Craig Hallum restated a “buy” rating and issued a $50.00 price target (up previously from $40.00) on shares of GTT Communications in a report on Monday, January 22nd. Zacks Investment Research upgraded shares of GTT Communications from a “sell” rating to a “hold” rating in a report on Friday, November 10th. Finally, Oppenheimer raised their price target 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 equities research analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $44.33.

In other GTT Communications news, Director S Joseph Bruno sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $40.50, for a total value of $40,500.00. Following the completion of the sale, the director now owns 108,467 shares of the company’s stock, valued at $4,392,913.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mcmullen Family Trust acquired 60,000 shares of the stock in a transaction on Tuesday, November 21st. The stock was purchased at an average cost of $0.65 per share, with a total value of $39,000.00. Insiders sold 33,000 shares of company stock valued at $724,280 in the last ninety days. 25.70% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of GTT. Spruce House Investment Management LLC acquired a new stake in GTT Communications in the third quarter valued at approximately $59,723,000. Bamco Inc. NY grew its position in shares of GTT Communications by 68.8% during the third quarter. Bamco Inc. NY now owns 2,278,200 shares of the technology company’s stock worth $72,105,000 after buying an additional 928,200 shares in the last quarter. Castleark Management LLC grew its position in shares of GTT Communications by 40.1% during the second quarter. Castleark Management LLC now owns 472,769 shares of the technology company’s stock worth $14,963,000 after buying an additional 135,407 shares in the last quarter. Vanguard Group Inc. grew its position in shares of GTT Communications by 11.4% during the second quarter. Vanguard Group Inc. now owns 1,228,307 shares of the technology company’s stock worth $38,876,000 after buying an additional 126,032 shares in the last quarter. Finally, Monarch Partners Asset Management LLC grew its position in shares of GTT Communications by 160.6% during the third quarter. Monarch Partners Asset Management LLC now owns 179,355 shares of the technology company’s stock worth $5,677,000 after buying an additional 110,525 shares in the last quarter. 65.26% of the stock is owned by institutional investors.

GTT Communications (GTT) traded down $1.25 during midday trading on Tuesday, reaching $44.55. 261,812 shares of the company traded hands, compared to its average volume of 262,615. GTT Communications has a 52-week low of $22.95 and a 52-week 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 stock has a market capitalization of $1,940.00, a price-to-earnings ratio of -79.55, a price-to-earnings-growth ratio of 17.56 and a beta of 1.06.

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

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