Unit Co. (UNT) Expected to Announce Quarterly Sales of $207.36 Million

Brokerages expect Unit Co. (NYSE:UNT) to post $207.36 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Unit’s earnings. The highest sales estimate is $209.71 million and the lowest is $205.00 million. Unit reported sales of $175.72 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 18%. The firm is scheduled to announce its next earnings results on Thursday, May 3rd.

On average, analysts expect that Unit will report full year sales of $207.36 million for the current year, with estimates ranging from $847.00 million to $877.68 million. For the next year, analysts expect that the firm will report sales of $936.92 million per share, with estimates ranging from $915.00 million to $958.84 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Unit.

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Unit (NYSE:UNT) last announced its quarterly earnings results on Thursday, February 22nd. The oil and gas company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.03. Unit had a net margin of 15.93% and a return on equity of 2.19%. The business had revenue of $204.85 million for the quarter, compared to analyst estimates of $199.77 million. During the same quarter in the prior year, the business earned $0.23 EPS. Unit’s quarterly revenue was up 17.5% on a year-over-year basis.

A number of research analysts recently commented on the stock. SunTrust Banks set a $27.00 price target on shares of Unit and gave the company a “buy” rating in a research note on Friday, February 23rd. TheStreet upgraded shares of Unit from a “d+” rating to a “c” rating in a research note on Thursday, February 22nd. ValuEngine lowered shares of Unit from a “hold” rating to a “sell” rating in a research report on Monday, February 5th. Cowen set a $27.00 target price on shares of Unit and gave the stock a “hold” rating in a research report on Thursday, January 18th. Finally, Johnson Rice assumed coverage on shares of Unit in a research report on Wednesday, March 21st. They set a “hold” rating and a $26.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $24.71.

Several large investors have recently made changes to their positions in UNT. Nationwide Fund Advisors grew its position in shares of Unit by 6.0% during the 3rd quarter. Nationwide Fund Advisors now owns 120,385 shares of the oil and gas company’s stock worth $2,478,000 after purchasing an additional 6,852 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Unit by 8.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 47,195 shares of the oil and gas company’s stock worth $971,000 after purchasing an additional 3,616 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its position in shares of Unit by 58.8% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 19,820 shares of the oil and gas company’s stock worth $408,000 after purchasing an additional 7,340 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Unit by 4.8% during the 3rd quarter. Rhumbline Advisers now owns 122,982 shares of the oil and gas company’s stock worth $2,531,000 after acquiring an additional 5,614 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Unit by 2.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 208,394 shares of the oil and gas company’s stock worth $4,289,000 after acquiring an additional 5,856 shares during the period. Hedge funds and other institutional investors own 94.73% of the company’s stock.

UNT traded down $0.19 on Monday, reaching $19.05. The company had a trading volume of 532,012 shares, compared to its average volume of 546,999. Unit has a fifty-two week low of $15.29 and a fifty-two week high of $26.82. The firm has a market cap of $1,020.91, a P/E ratio of 35.28 and a beta of 2.92. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.66 and a current ratio of 0.66.

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About Unit

Unit Corporation, together with its subsidiaries, operates as an oil and natural gas contract drilling company in the United States. The company operates through three segments: Oil and Natural Gas, Contract Drilling, and Mid-Stream. The Oil and Natural Gas segment acquires, explores, develops, and produces oil and natural gas properties, principally located in Oklahoma and Texas, as well as in Arkansas, Colorado, Kansas, Louisiana, Mississippi, Montana, New Mexico, North Dakota, Utah, and Wyoming.

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Earnings History and Estimates for Unit (NYSE:UNT)

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