GTT Communications, Inc. (GTT) saw a big move on Dec 5, as the company's shares fell by over 6% on the day. However, this came after the company announced pricing a public offering of 3.5 million common stocks at $12.75 a piece.
GTT expects the net proceeds from this offering to be roughly $41.6 million. This excludes underwriting discounts and other estimated offering expenses that are to be paid by GTT. The offering is scheduled to close today, subject to customary closing conditions.
Meanwhile, the network solutions provider has seen 2 negative earnings estimate revisions in the past few weeks and its current year loss consensus has widened over the last 30 days. So make sure to keep an eye on this stock going forward.
GTT currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
Some better-ranked stocks in the IT services industry include EPAM Systems, Inc. (EPAM), EarthLink Holdings Corp. (ELNK) and CDW Corporation (CDW). While EPAM Systems and EarthLink Holdings hold a Zacks Rank #1(Strong Buy), CDW Corporation carries a Zacks Rank #2 (Buy).
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(We are reissuing this article to correct a mistake. The original article, issued on Dec 8, 2014, should no longer be relied upon.)
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
GTT COMMUNICATN (GTT): Free Stock Analysis Report
EPAM SYSTEMS (EPAM): Free Stock Analysis Report
EARTHLINK HLDGS (ELNK): Free Stock Analysis Report
CDW CORP (CDW): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
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Meanwhile, the network solutions provider has seen 2 negative earnings estimate revisions in the past few weeks and its current year loss consensus has widened over the last 30 days. So make sure to keep an eye on this stock going forward.
GTT currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
Some better-ranked stocks in the IT services industry include EPAM Systems, Inc. (EPAM), EarthLink Holdings Corp. (ELNK) and CDW Corporation (CDW). While EPAM Systems and EarthLink Holdings hold a Zacks Rank #1(Strong Buy), CDW Corporation carries a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
(We are reissuing this article to correct a mistake. The original article, issued on Dec 8, 2014, should no longer be relied upon.)
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
GTT COMMUNICATN (GTT): Free Stock Analysis Report
EPAM SYSTEMS (EPAM): Free Stock Analysis Report
EARTHLINK HLDGS (ELNK): Free Stock Analysis Report
CDW CORP (CDW): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
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