Analysts expect Unit Corporation (NYSE:UNT) to post $0.19 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Unit’s earnings, with the highest EPS estimate coming in at $0.33 and the lowest estimate coming in at $0.07. Unit posted earnings of $0.23 per share during the same quarter last year, which suggests a negative year over year growth rate of 17.4%. The business is scheduled to issue its next quarterly earnings results on Thursday, February 22nd.
On average, analysts expect that Unit will report full year earnings of $0.51 per share for the current year, with EPS estimates ranging from $0.39 to $0.66. For the next fiscal year, analysts expect that the business will post earnings of $1.06 per share, with EPS estimates ranging from $0.64 to $1.50. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Unit.
Unit (NYSE:UNT) last issued its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). Unit had a return on equity of 2.33% and a net margin of 4.28%. The company had revenue of $188.49 million during the quarter, compared to the consensus estimate of $189.44 million. During the same quarter in the prior year, the business earned $0.04 earnings per share. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year.
Several equities research analysts have weighed in on UNT shares. SunTrust Banks reissued a “buy” rating and issued a $25.00 price target on shares of Unit in a report on Friday, November 3rd. KLR Group raised Unit from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Wednesday, August 23rd. Cowen reissued a “hold” rating and issued a $25.00 price target on shares of Unit in a report on Sunday, September 17th. Zacks Investment Research upgraded Unit from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. Finally, Scotiabank restated a “hold” rating and issued a $23.00 price objective on shares of Unit in a research report on Friday, November 3rd. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $24.60.
Shares of Unit (UNT) traded down $0.30 during trading on Friday, hitting $21.94. The stock had a trading volume of 276,200 shares, compared to its average volume of 589,737. The stock has a market capitalization of $1,176.04, a price-to-earnings ratio of 40.44 and a beta of 2.90. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.66 and a current ratio of 0.67. Unit has a 1 year low of $15.29 and a 1 year high of $30.63.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Delphi Management Inc. MA grew its stake in Unit by 0.6% during the 2nd quarter. Delphi Management Inc. MA now owns 82,607 shares of the oil and gas company’s stock worth $1,547,000 after buying an additional 477 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Unit by 2.4% in the 2nd quarter. Louisiana State Employees Retirement System now owns 21,500 shares of the oil and gas company’s stock valued at $403,000 after buying an additional 500 shares during the period. Arizona State Retirement System lifted its holdings in shares of Unit by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 27,549 shares of the oil and gas company’s stock valued at $516,000 after buying an additional 600 shares during the period. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Unit by 6.0% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 12,480 shares of the oil and gas company’s stock valued at $234,000 after buying an additional 710 shares during the period. Finally, Wedge Capital Management L L P NC raised its holdings in Unit by 9.0% during the second quarter. Wedge Capital Management L L P NC now owns 11,394 shares of the oil and gas company’s stock worth $213,000 after purchasing an additional 940 shares during the last quarter. Institutional investors and hedge funds own 95.15% of the company’s stock.
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Unit Company Profile
Unit Corporation is an oil and natural gas contract drilling company. The Company has operations in the exploration and production and mid-stream areas. The Company operates through three segments: Oil and Natural Gas, Contract Drilling and Mid-Stream. It is primarily engaged in the exploration, development, acquisition, and production of oil and natural gas properties, the land contract drilling of natural gas and oil wells, and the buying, selling, gathering, processing and treating of natural gas.
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