Disappointing Quarter for GTT Isn't All Bad but Highlights Challenges; Shares Still Overvalued
No-moat GTT missed consensus and fell short of our first-quarter estimates on the top and bottom lines. More concerning, the firm again saw revenue decline, excluding the benefit of acquisitions. Although GTT was able to increase margins, as management has targeted, we believe the only way the firm can justify its current valuation is to show it can materially grow revenue organically. We see nothing to change our view that that will be difficult, so despite a huge stock decline following earnin...GTT Communications provides cloud networking services including: wide area networking, which provides a variety of wide area networking solutions, including software-defined wide area networking, multiprotocol label switching, virtual private LAN service, and Ethernet; transport and infrastructure services, which provides a suite of transport and infrastructure services over its global network; internet, which provides clients internet connectivity and IP transit with availability and packet delivery; managed services, which provides managed network services, including managed equipment, security, managed hosting; and voice, which provides local voice service in various countries.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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