Cogent GTT Communications to benefit from cloud growth, says Pacific Crest Pacific Crest expects Cogent (CCOI) and GTT (GTT) to benefit from their ability to effectively connect organizations with data centers, as well as provide high-volume ports within data centers. The firm predicts that the companies will be boosted by the increase in connections between organizations and various cloud providers. It keeps an Outperform rating on Cogent.
GTT Communications reports Q3 EPS (23c), consensus 2c Reports Q3 revenue $49.2M, consensus $48.54M. Reports Q3 gross Margin increased 470 basis points to 39.2% compared to 34.5% in the third quarter of 2013. Adjusted Earnings before Interest Taxes Depreciation and Amortization increased by 18.2% compared to the prior year third quarter to $8.9M.