Somewhat Positive News Coverage Somewhat Unlikely to Affect GTT Communications (GTT) Stock Price

News articles about GTT Communications (NYSE:GTT) have been trending somewhat positive this week, Accern reports. The research group identifies negative and positive press coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. GTT Communications earned a news sentiment score of 0.12 on Accern’s scale. Accern also assigned media stories about the technology company an impact score of 47.5879219012229 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.

Here are some of the news articles that may have impacted Accern Sentiment’s rankings:

Several research analysts have commented on the company. Zacks Investment Research lowered GTT Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Cowen and Company set a $43.00 target price on GTT Communications and gave the company a “buy” rating in a report on Friday, August 4th. Finally, BidaskClub lowered GTT Communications from a “sell” rating to a “strong sell” rating in a report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $36.20.

GTT Communications (GTT) traded up 0.71% on Friday, hitting $35.55. The stock had a trading volume of 442,330 shares. The company’s market cap is $1.47 billion. The company’s 50 day moving average price is $32.45 and its 200-day moving average price is $30.81. GTT Communications has a 12-month low of $20.80 and a 12-month high of $35.75.

GTT Communications (NYSE:GTT) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.05. The business had revenue of $186.20 million for the quarter, compared to analysts’ expectations of $186.65 million. GTT Communications had a positive return on equity of 4.17% and a negative net margin of 1.88%. The firm’s revenue was up 44.5% compared to the same quarter last year. Equities research analysts anticipate that GTT Communications will post ($0.43) EPS for the current year.

In related news, General Counsel Chris Mckee sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $31.99, for a total value of $223,930.00. Following the sale, the general counsel now directly owns 397,081 shares in the company, valued at approximately $12,702,621.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Howard E. Janzen sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $30.32, for a total value of $181,920.00. Following the completion of the sale, the director now owns 240,728 shares in the company, valued at $7,298,872.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,000 shares of company stock worth $1,774,990. 25.70% of the stock is owned by insiders.

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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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