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Friday, November 27, 2020

GTT Communications Inc. (NYSE:GTT) is Gaining Momentum on Earnings Catalyst

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GTT Communications Inc. (GTT) shares are trading at higher $5.35 and the avg recommendation for the stock is Hold.

To add more color to this target, the company’s high over the last year is $15.77 and the low is $3.94. Over the last 52 weeks, GTT is down -25.17% while the S&P 500 is up 16.04%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, GTT reported a profit of $187.0 million. GTT Communications Inc. also saw revenues increase to $424.7 million. In addition, GTT has free cash flow of $19.5 million as of 03-2020. The company’s EBITDA came in at $79.9 million which compares well with its peers.

GTT booked profit margins of -9.50%, its Return on Equity (ROE) is -58.00%, and its Return on Assets is -3.40%. All told, it is clear that, GTT needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. GTT has a short ratio of 22.23 and outstanding shares of 57.26M.

Company Outlook

GTT has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.57 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -2.85. GTT Communications Inc. GTT also noted assets of $4.74 billion at the end of the last quarter. Investors should also keep an eye on sector updates as GTT has historically followed its peers on positive news.

All told, GTT Communications Inc. GTT has strung together solid data and demonstrated underlying fundamentals. At its current valuation, GTT represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

GTT Communications Inc. GTT is now commanding a market cap of 294.68M and a float of 42.59M. GTT is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of GTT stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in GTT, either long or short, and we have not been compensated for this article.

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