Wall Street brokerages expect GTT Communications Inc (NYSE:GTT) to report sales of $416.33 million for the current quarter, according to Zacks. Four analysts have provided estimates for GTT Communications' earnings, with the highest sales estimate coming in at $418.90 million and the lowest estimate coming in at $409.60 million. GTT Communications reported sales of $420.00 million in the same quarter last year, which indicates a negative year over year growth rate of 0.9%. The company is expected to report its next earnings results on Tuesday, November 10th.
According to Zacks, analysts expect that GTT Communications will report full-year sales of $1.59 billion for the current fiscal year, with estimates ranging from $1.27 billion to $1.68 billion. For the next year, analysts expect that the firm will post sales of $1.56 billion, with estimates ranging from $1.27 billion to $1.69 billion. Zacks Investment Research's sales calculations are a mean average based on a survey of research firms that that provide coverage for GTT Communications.
GTT has been the topic of a number of analyst reports. Zacks Investment Research raised GTT Communications from a "sell" rating to a "hold" rating in a research report on Wednesday, September 23rd. Raymond James lowered GTT Communications from an "outperform" rating to an "underperform" rating in a research report on Tuesday, August 11th. Finally, Oppenheimer reiterated a "hold" rating on shares of GTT Communications in a research note on Monday, August 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company's stock. The stock has a consensus rating of "Hold" and an average price target of $11.20.
NYSE:GTT opened at $5.35 on Friday. The firm has a 50-day moving average of $5.34 and a two-hundred day moving average of $7.31. The company has a debt-to-equity ratio of 16.59, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a market cap of $314.68 million, a P/E ratio of -1.88 and a beta of 1.38. GTT Communications has a 1-year low of $3.94 and a 1-year high of $15.77.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Neuberger Berman Group LLC lifted its holdings in GTT Communications by 16.4% during the 2nd quarter. Neuberger Berman Group LLC now owns 3,810,410 shares of the technology company's stock worth $31,093,000 after buying an additional 536,386 shares during the last quarter. Morgan Stanley raised its position in shares of GTT Communications by 57.4% during the 1st quarter. Morgan Stanley now owns 717,957 shares of the technology company's stock valued at $5,708,000 after acquiring an additional 261,905 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of GTT Communications by 749.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 489,699 shares of the technology company's stock valued at $3,996,000 after acquiring an additional 432,035 shares in the last quarter. Geode Capital Management LLC lifted its stake in GTT Communications by 6.8% during the first quarter. Geode Capital Management LLC now owns 436,403 shares of the technology company's stock worth $3,469,000 after purchasing an additional 27,705 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in GTT Communications by 4.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 206,708 shares of the technology company's stock worth $1,687,000 after purchasing an additional 9,451 shares during the period. Hedge funds and other institutional investors own 67.95% of the company's stock.
GTT Communications Company Profile
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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