Somewhat Negative News Coverage Very Unlikely to Impact GTT Communications (GTT) Share Price
News coverage about GTT Communications (NYSE:GTT) has been trending somewhat negative this week, Alpha One Sentiment reports. Alpha One, a service of Accern, scores the sentiment of news coverage by analyzing more than 20 million blog and news sources in real time. Alpha One ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. GTT Communications earned a daily sentiment score of -0.03 on Alpha One’s scale. Alpha One also assigned news coverage about the technology company an impact score of 21 out of 100, meaning that recent news coverage is very unlikely to have an effect on the company’s share price in the immediate future.
Here are some of the news articles that may have effected Alpha One’s rankings:
- GTT Communications : to Speak at UCaaS Capital Conference (4-traders.com)
- GTT to Speak at UCaaS Capital Conference (finance.yahoo.com)
- GTT Announces Earnings Call for First Quarter 2017 (finance.yahoo.com)
- GTT managed SD-WAN service leverages VeloCloud technology (financial-news.co.uk)
- GTT Communications, Inc. – Value Analysis (NYSE:GTT) : April 19, 2017 (finance.yahoo.com)
A number of research firms have issued reports on GTT. Zacks Investment Research lowered shares of GTT Communications from a “buy” rating to a “hold” rating in a research report on Friday, March 10th. Cowen and Company reissued an “outperform” rating and set a $36.00 price target (down from $37.00) on shares of GTT Communications in a research report on Saturday, March 11th. Jefferies Group LLC reissued a “buy” rating and set a $36.00 price target (up from $30.00) on shares of GTT Communications in a research report on Saturday, March 11th. Finally, BTIG Research began coverage on shares of GTT Communications in a research report on Thursday, February 9th. They set a “buy” rating and a $36.00 price target for the company. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $33.71.
GTT Communications (NYSE:GTT) traded up 1.99% during trading on Friday, hitting $28.15. 331,662 shares of the stock traded hands. The firm’s 50-day moving average is $24.98 and its 200-day moving average is $25.83. GTT Communications has a 12 month low of $14.96 and a 12 month high of $29.75. The stock has a market cap of $1.15 billion, a P/E ratio of 201.07 and a beta of 1.70.
GTT Communications (NYSE:GTT) last announced its quarterly earnings results on Wednesday, March 8th. The technology company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by $0.13. GTT Communications had a net margin of 6.74% and a return on equity of 1.77%. The firm earned $136.50 million during the quarter, compared to analysts’ expectations of $135.24 million. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. On average, analysts forecast that GTT Communications will post $0.06 EPS for the current year.
In other news, General Counsel Chris Mckee sold 7,000 shares of the firm’s stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $27.63, for a total value of $193,410.00. Following the completion of the transaction, the general counsel now owns 430,366 shares in the company, valued at $11,891,012.58. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Richard Calder sold 10,000 shares of the firm’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $27.62, for a total value of $276,200.00. Following the completion of the transaction, the insider now owns 1,180,536 shares of the company’s stock, valued at approximately $32,606,404.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,000 shares of company stock valued at $872,950. Company insiders own 29.86% of the company’s stock.
About GTT Communications
GTT Communications, Inc provides cloud networking services to a range of clients. The Company offers a portfolio of global communications services, wide area network (WAN) services; Internet services; managed network and security services, and voice and unified communication services. It provides Layer 2 (Ethernet) and Layer 3 (multiprotocol label switching (MPLS)) WAN solutions for multinational clients.
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