Equities research analysts expect that Uniti Group Inc (NASDAQ:UNIT) will report sales of $246.82 million for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Uniti Group’s earnings, with the lowest sales estimate coming in at $245.98 million and the highest estimate coming in at $247.81 million. Uniti Group reported sales of $206.92 million in the same quarter last year, which would suggest a positive year over year growth rate of 19.3%. The company is expected to report its next quarterly earnings report after the market closes on Thursday, March 1st.
On average, analysts expect that Uniti Group will report full-year sales of $246.82 million for the current fiscal year, with estimates ranging from $915.68 million to $917.51 million. For the next year, analysts expect that the business will post sales of $1.01 billion per share, with estimates ranging from $993.91 million to $1.05 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Uniti Group.
A number of research analysts have issued reports on UNIT shares. BidaskClub upgraded shares of Uniti Group from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. ValuEngine lowered shares of Uniti Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 31st. Cowen restated a “buy” rating on shares of Uniti Group in a research note on Friday, November 3rd. Finally, Royal Bank of Canada cut their price objective on shares of Uniti Group from $32.00 to $18.00 and set an “outperform” rating on the stock in a research note on Monday, November 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $26.14.
Uniti Group (UNIT) opened at $16.13 on Monday. The company has a debt-to-equity ratio of -0.05, a quick ratio of 0.03 and a current ratio of 0.03. Uniti Group has a 52 week low of $13.81 and a 52 week high of $29.65. The stock has a market cap of $2,830.00 and a P/E ratio of -59.74.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Friday, March 30th will be paid a $0.60 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 14.88%. Uniti Group’s payout ratio is currently -888.89%.
Several large investors have recently added to or reduced their stakes in UNIT. Teachers Advisors LLC increased its stake in shares of Uniti Group by 378.7% in the fourth quarter. Teachers Advisors LLC now owns 899,263 shares of the real estate investment trust’s stock worth $15,998,000 after acquiring an additional 711,419 shares during the period. Lion Point Capital LP acquired a new stake in shares of Uniti Group in the fourth quarter worth $10,674,000. Paloma Partners Management Co acquired a new stake in shares of Uniti Group in the fourth quarter worth $9,354,000. Amundi Pioneer Asset Management Inc. increased its stake in shares of Uniti Group by 384.3% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 396,975 shares of the real estate investment trust’s stock worth $7,062,000 after acquiring an additional 315,000 shares during the period. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Uniti Group in the fourth quarter worth $4,714,000. Hedge funds and other institutional investors own 69.16% of the company’s stock.
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About Uniti Group
Uniti Group Inc, formerly Communications Sales & Leasing, Inc, is an internally managed real estate investment trust engaged in the acquisition and construction of infrastructure in the communications industry. The Company focuses on acquiring and constructing fiber optic broadband networks, wireless communications towers, copper and coaxial broadband networks and data centers.
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