Somewhat Negative News Coverage Very Unlikely to Impact GTT Communications (GTT) Share Price
News articles about GTT Communications (NYSE:GTT) have trended somewhat negative recently, according to Alpha One Sentiment Analysis. The research group, a unit of Accern, identifies positive and negative news coverage by reviewing more than 20 million news and blog sources in real-time. Alpha One ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. GTT Communications earned a news sentiment score of -0.03 on Alpha One’s scale. Alpha One also gave news articles about the technology company an impact score of 21 out of 100, indicating that recent news coverage is very unlikely to have an impact on the stock’s share price in the near future.
These are some of the news headlines that may have effected AlphaOne Sentiment’s analysis:
- 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)
Shares of GTT Communications (NYSE:GTT) traded up 1.99% during mid-day trading on Friday, reaching $28.15. The company’s stock had a trading volume of 331,662 shares. The firm’s 50 day moving average is $24.98 and its 200-day moving average is $25.83. GTT Communications has a 52-week low of $14.96 and a 52-week high of $29.75. The company has a market capitalization of $1.15 billion, a PE ratio of 201.07 and a beta of 1.70.
GTT Communications (NYSE:GTT) last released its quarterly earnings results on Wednesday, March 8th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by $0.13. The company had revenue of $136.50 million for the quarter, compared to the consensus estimate of $135.24 million. GTT Communications had a return on equity of 1.77% and a net margin of 6.74%. The company’s revenue was up 18.9% on a year-over-year basis. Analysts forecast that GTT Communications will post $0.06 EPS for the current year.
A number of analysts recently commented on GTT shares. Zacks Investment Research raised GTT Communications from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research note on Tuesday, February 7th. BTIG Research started coverage on GTT Communications in a research note on Thursday, February 9th. They set a “buy” rating and a $36.00 price objective on the stock. Jefferies Group LLC reaffirmed a “buy” rating and set a $36.00 price objective (up previously from $30.00) on shares of GTT Communications in a research note on Saturday, March 11th. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $36.00 price objective (down previously from $37.00) on shares of GTT Communications in a research note on Saturday, March 11th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. GTT Communications has a consensus rating of “Buy” and a consensus target price of $33.71.
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In related news, Director Theodore B. Smith III purchased 7,000 shares of the firm’s stock in a transaction dated Friday, March 10th. The stock was bought at an average price of $23.87 per share, for a total transaction of $167,090.00. Following the purchase, the director now owns 404,618 shares in the company, valued at approximately $9,658,231.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Elizabeth Satin purchased 4,000 shares of the firm’s stock in a transaction dated Monday, March 13th. The shares were bought at an average price of $24.50 per share, with a total value of $98,000.00. Following the purchase, the director now owns 11,912 shares in the company, valued at approximately $291,844. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 34,000 shares of company stock valued at $872,950. 29.86% of the stock is currently owned by corporate insiders.
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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