Wall Street analysts predict that GTT Communications Inc (NYSE:GTT) will post sales of $416.15 million for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for GTT Communications’ earnings, with the lowest sales estimate coming in at $405.60 million and the highest estimate coming in at $421.61 million. GTT Communications posted sales of $433.80 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 4.1%. The firm is scheduled to issue its next earnings results on Thursday, August 13th.

On average, analysts expect that GTT Communications will report full year sales of $1.67 billion for the current year, with estimates ranging from $1.66 billion to $1.68 billion. For the next year, analysts forecast that the company will report sales of $1.63 billion, with estimates ranging from $1.60 billion to $1.69 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for GTT Communications.

GTT Communications (NYSE:GTT) last released its earnings results on Friday, May 8th. The technology company reported ($1.45) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($1.19). GTT Communications had a negative return on equity of 27.24% and a negative net margin of 9.51%. The company had revenue of $424.70 million during the quarter, compared to the consensus estimate of $427.93 million. During the same period last year, the firm posted ($0.49) earnings per share. The company’s revenue was down 5.7% compared to the same quarter last year.

Several research firms have commented on GTT. Oppenheimer reissued a “hold” rating on shares of GTT Communications in a report on Friday, May 8th. ValuEngine raised GTT Communications from a “hold” rating to a “buy” rating in a report on Friday, May 1st. William Blair reaffirmed an “outperform” rating on shares of GTT Communications in a report on Monday, March 2nd. Raymond James raised GTT Communications from a “market perform” rating to an “outperform” rating and set a $10.00 price target on the stock in a report on Tuesday, May 26th. Finally, Zacks Investment Research raised GTT Communications from a “sell” rating to a “hold” rating in a report on Thursday, June 25th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. GTT Communications has an average rating of “Hold” and a consensus target price of $11.20.

GTT Communications stock traded up $0.20 during mid-day trading on Thursday, hitting $8.26. The company had a trading volume of 273,400 shares, compared to its average volume of 510,599. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 17.88. The stock’s 50 day moving average price is $8.49 and its two-hundred day moving average price is $10.57. GTT Communications has a 12 month low of $4.67 and a 12 month high of $19.75. The company has a market capitalization of $474.09 million, a PE ratio of -2.91 and a beta of 1.62.

A number of institutional investors have recently bought and sold shares of the stock. D.A. Davidson & CO. increased its position in GTT Communications by 4.4% during the first quarter. D.A. Davidson & CO. now owns 23,592 shares of the technology company’s stock valued at $188,000 after acquiring an additional 990 shares during the last quarter. Public Employees Retirement Association of Colorado increased its position in GTT Communications by 21.0% during the first quarter. Public Employees Retirement Association of Colorado now owns 5,916 shares of the technology company’s stock valued at $47,000 after acquiring an additional 1,025 shares during the last quarter. Bank of Montreal Can increased its position in GTT Communications by 34.1% during the fourth quarter. Bank of Montreal Can now owns 4,340 shares of the technology company’s stock valued at $49,000 after acquiring an additional 1,103 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in GTT Communications by 12.0% during the first quarter. Parametric Portfolio Associates LLC now owns 14,639 shares of the technology company’s stock valued at $116,000 after acquiring an additional 1,565 shares during the last quarter. Finally, UBS Group AG increased its position in GTT Communications by 3.2% during the fourth quarter. UBS Group AG now owns 97,666 shares of the technology company’s stock valued at $1,109,000 after acquiring an additional 3,004 shares during the last quarter. Institutional investors own 72.44% of the company’s stock.

About GTT Communications

GTT Communications, Inc provides cloud networking services to multinational enterprises, carriers, and government customers in the United States, Europe, and internationally. The company offers private, public, and hybrid cloud network solutions; high bandwidth-Internet connectivity and IP transit, as well as broadband and wireless Internet access services; managed equipment, security, and hosting services; and voice services consisting of session initiation protocol trunking and hosted private branch exchange services.

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

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