GTT Communications, Inc. (GTT), the provider of cloud networking services could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on GTT’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames, suggesting that GTT Communications could be a solid choice for investors.
Current Quarter Estimates for GTT
In the past 30 days, 2 estimates have gone higher for GTT Communications while there is no downward estimates revision in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 3 cents a share 30 days ago, to a gain of 1 cent, a move of 133%.
Current Year Estimates for GTT
Meanwhile, GTT Communications’s current year figures are also looking quite promising, with 2 estimates moved higher in the past month. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of 49 cents 30 days ago to a loss of 32 cents today, an increase of 35%.
Bottom Line
The stock has also started to move higher lately, adding 10.4% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future.
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