Brokerages expect GTT Communications Inc (NYSE:GTT) to report $333.98 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for GTT Communications’ earnings. The lowest sales estimate is $333.16 million and the highest is $334.80 million. GTT Communications reported sales of $186.20 million during the same quarter last year, which would suggest a positive year over year growth rate of 79.4%. The business is expected to report its next earnings report on Thursday, November 1st.

On average, analysts expect that GTT Communications will report full year sales of $1.51 billion for the current fiscal year, with estimates ranging from $1.50 billion to $1.52 billion. For the next year, analysts forecast that the firm will post sales of $1.88 billion per share, with estimates ranging from $1.85 billion to $1.91 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for GTT Communications.

GTT Communications (NYSE:GTT) last posted its quarterly earnings results on Friday, August 3rd. The technology company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.25). GTT Communications had a negative return on equity of 0.40% and a negative net margin of 9.96%. The firm had revenue of $326.80 million for the quarter, compared to analyst estimates of $297.68 million. During the same period last year, the company posted $0.02 earnings per share. The firm’s quarterly revenue was up 71.9% compared to the same quarter last year.

A number of analysts have commented on the company. Zacks Investment Research lowered GTT Communications from a “hold” rating to a “strong sell” rating in a report on Wednesday. ValuEngine lowered GTT Communications from a “strong-buy” rating to a “buy” rating in a report on Wednesday. BWS Financial assumed coverage on GTT Communications in a report on Monday, August 6th. They set a “sell” rating and a $5.00 price objective for the company. William Blair reaffirmed a “buy” rating on shares of GTT Communications in a report on Monday, August 6th. Finally, KeyCorp raised GTT Communications from a “sector weight” rating to an “overweight” rating and set a $57.00 target price for the company in a report on Friday, May 4th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. GTT Communications has an average rating of “Buy” and an average price target of $52.11.

In other GTT Communications news, EVP Chris Mckee sold 7,000 shares of the stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $50.15, for a total transaction of $351,050.00. Following the completion of the transaction, the executive vice president now directly owns 444,938 shares of the company’s stock, valued at $22,313,640.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Nicola Adamo acquired 4,000 shares of GTT Communications stock in a transaction on Wednesday, May 16th. The shares were purchased at an average cost of $50.67 per share, with a total value of $202,680.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 40,000 shares of company stock valued at $1,955,510. 23.01% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in shares of GTT Communications during the first quarter worth $123,000. PNC Financial Services Group Inc. raised its position in GTT Communications by 148.8% during the second quarter. PNC Financial Services Group Inc. now owns 2,928 shares of the technology company’s stock valued at $133,000 after purchasing an additional 1,751 shares in the last quarter. FCG Advisors LLC purchased a new stake in GTT Communications during the first quarter valued at about $220,000. Xact Kapitalforvaltning AB purchased a new stake in GTT Communications during the fourth quarter valued at about $231,000. Finally, Amalgamated Bank purchased a new stake in GTT Communications during the first quarter valued at about $235,000. 64.56% of the stock is owned by institutional investors and hedge funds.

GTT Communications traded down $2.00, reaching $32.80, during trading on Tuesday, MarketBeat reports. 1,110,402 shares of the stock were exchanged, compared to its average volume of 665,429. The company has a debt-to-equity ratio of 5.96, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market cap of $1.90 billion, a P/E ratio of 136.67 and a beta of 0.99. GTT Communications has a twelve month low of $28.30 and a twelve month high of $62.32.

GTT Communications Company Profile

GTT Communications, Inc provides cloud networking services to multinational enterprises, carriers, and government customers worldwide. The company provides private, public, and hybrid cloud network solutions; high bandwidth-Internet connectivity and IP transit, as well as broadband and wireless access services; managed equipment and security services; and voice and unified communications services consisting of SIP trunking and enterprise PBX services.

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

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