Price Change to Note: Could GTT Communications Inc Go Down After Achieving 52-Week High?

Price Change to Note: Could GTT Communications Inc Go Down After Achieving 52 Week High?

The stock of GTT Communications Inc (NYSE:GTT) hit a new 52-week high and has $27.80 target or 9.00% above today’s $25.50 share price. The 6 months bullish chart indicates low risk for the $963.81M company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $27.80 price target is reached, the company will be worth $86.74M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 33,386 shares traded hands. GTT Communications Inc (NYSE:GTT) has risen 56.85% since April 22, 2016 and is uptrending. It has outperformed by 51.44% the S&P500.

Analysts await GTT Communications Inc (NYSE:GTT) to report earnings on March, 2. They expect $0.12 earnings per share, up 209.09% or $0.23 from last year’s $-0.11 per share. GTT’s profit will be $4.54 million for 53.13 P/E if the $0.12 EPS becomes a reality. After $0.14 actual earnings per share reported by GTT Communications Inc for the previous quarter, Wall Street now forecasts -14.29% negative EPS growth.

GTT Communications Inc (NYSE:GTT) Ratings Coverage

Out of 4 analysts covering GTT Communications (NYSE:GTT), 4 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. GTT Communications has been the topic of 5 analyst reports since August 7, 2015 according to StockzIntelligence Inc. Cowen & Co initiated the stock with “Outperform” rating in Monday, October 12 report. The stock of GTT Communications Inc (NYSE:GTT) has “Overweight” rating given on Friday, August 7 by Pacific Crest. The stock of GTT Communications Inc (NYSE:GTT) earned “Buy” rating by Suntrust Robinson on Thursday, February 18. The firm earned “Buy” rating on Wednesday, November 4 by Drexel Hamilton. Pacific Crest maintained GTT Communications Inc (NYSE:GTT) on Wednesday, September 16 with “Overweight” rating.

According to Zacks Investment Research, “GTT Communications, Inc. offers cloud networking; high bandwidth IP transit for content delivery and hosting as well as network-to-network carrier interconnects solutions and data connectivity solutions. The company’s network consists of a layer 2 switched Ethernet and IP transit or dedicated internet access. It operates primarily in North America, Europe and Asia. GTT Communications, Inc., formerly known as Global Telecom & Technology, Inc., is headquartered in McLean, Virginia.”

More news for GTT Communications Inc (NYSE:GTT) were recently published by: Marketwatch.com, which released: “/quotes/zigman/3870025/realtime” on February 18, 2013. Quotes.Wsj.com‘s article titled: “News GTT Communications Inc.GTT” and published on February 23, 2011 is yet another important article.

GTT Company Profile

GTT Communications, Inc., incorporated on January 3, 2005, is a well-known provider of cloud networking services. The Firm offers a portfolio of global communications services, including EtherCloud wide area network services; Internet services; managed network and security services, and voice and unified communication services. The Company’s Tier 1 Internet protocol (IP) network delivers connectivity for its clients around the world. It provides services to multinational enterprises, carriers and government clients in over 100 countries. The Company’s global network assets are deployed in North America, South America, Europe, Asia and Australia.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment