In the last trading session, 2,731,101 shares of the GTT Communications, Inc.(NYSE:GTT) were traded, and its beta was 1.39. Most recently the company’s share price was $2.4, and it changed around $0.01 or 0% from the last close, which brings the market valuation of the company to $141.17 Million. GTT currently trades at a discount to its 52-week high of $15.77, offering almost -557.08% off that amount. The share price’s 52-week low was $2.38, which indicates that the current value has risen by an impressive 0.83% since then. We note from GTT Communications, Inc.’s average daily trading volume that its 10-day average is 3.19 Million shares, with the 3-month average coming to 1.07 Million.
GTT Communications, Inc. stock received a consensus recommendation rating of Sell, based on a mean score of 3. If we narrow it down even further, the data shows that 1 out of 1 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, no body recommended GTT as a Hold, whereas none deemed it a Buy, and no one rated it as Underweight. GTT Communications, Inc. is expected to report earnings per share of -$0.52 for the current quarter.
GTT Communications, Inc. (NYSE:GTT): Trading Information
Instantly GTT has showed a green trend with a performance of 0.42% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $4.20- on Tuesday, Feb 16 increased the stock’s daily price by 42.86%. The company’s shares are currently down -0.33% year-to-date, but still down -0.4103 over the last five days. On the other hand, GTT Communications, Inc. (NYSE:GTT) is -0.39% down in the 30-day period. We can see from the shorts that 8.04 Million shares have been sold at a short interest cover period of 7.51 day(s).
The consensus price target as assigned by Wall Street analysts is $11, which translates to bears needing to increase their stock price by 358.33% from its current value. Analyst projections state that GTT is forecast to be at a low of $11 and a high of $11. In order for the stock price to hit the forecast high, the stock would need to surge +358.33% from its current level, while the stock would need to crash 358.33% from its current level to reach the projected low.
GTT Communications, Inc. (GTT) projections and forecasts
GTT Communications, Inc. share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -45.82 percent over the past six months and at a -297.06% annual growth rate that is well below the industry average of 2.9%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +11.9% in revenue this quarter, and will report a decline of -17.4% in the next quarter. The year-over-year growth rate is expected to be -3.9%, down from the previous year.
Consensus estimates provided by 4 financial analysts predict the company will bring in an average of $416.22 Million in revenue for the current quarter. 3 analysts expect GTT Communications, Inc. to make $415.2 Million in revenue for the quarter ending in Apr 2021. The company’s sales for the same quarters a year ago were $433.8 Million and $420Million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -4.1%. Forecasts for the next quarter put sales growth at -1.1%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -17.2%. GTT Communications, Inc. earnings are expected to increase by 60.8% in 2021, but the outlook is positive 25% per year for the next five years.
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GTT Communications, Inc. (NYSE:GTT)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 20.18% of GTT Communications, Inc. shares, and 75.24% of them are in the hands of institutional investors. The stock currently has a share float of 94.27%. GTT Communications, Inc. stock is held by 129 institutions, with Spruce House Investment Management LLC being the largest institutional investor. By Sep 29, 2020, it held 26.99% of the shares, which is about 15.88 Million shares worth $81.92 Million.
Conifer Management, L.L.C., with 8.86% or 5.21 Million shares worth $26.88 Million as of Sep 29, 2020, holds the second largest percentage of outstanding shares.