GTT Communications (NYSE:GTT) released its quarterly earnings results on Thursday. The technology company reported ($0.43) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.61) by $0.18, Fidelity Earnings reports. The company had revenue of $448.60 million for the quarter, compared to analysts’ expectations of $456.19 million. GTT Communications had a negative return on equity of 45.46% and a negative net margin of 21.82%. The business’s revenue for the quarter was up 121.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.23) earnings per share.
GTT opened at $34.99 on Friday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 6.29. GTT Communications has a twelve month low of $31.44 and a twelve month high of $62.32.
A number of research firms have recently weighed in on GTT. Zacks Investment Research cut GTT Communications from a “hold” rating to a “strong sell” rating in a report on Thursday, July 12th. William Blair reaffirmed a “buy” rating on shares of GTT Communications in a report on Monday, August 6th. SunTrust Banks reaffirmed a “buy” rating and set a $52.00 price target on shares of GTT Communications in a report on Friday, August 3rd. ValuEngine raised GTT Communications from a “buy” rating to a “strong-buy” rating in a report on Friday, August 17th. Finally, BWS Financial began coverage on GTT Communications in a report on Monday, August 6th. They set a “sell” rating and a $5.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $51.33.
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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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