Wall Street analysts predict that Uniti Group Inc (NASDAQ:UNIT) will report $253.65 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Uniti Group’s earnings, with the highest sales estimate coming in at $254.51 million and the lowest estimate coming in at $252.80 million. Uniti Group reported sales of $245.21 million in the same quarter last year, which indicates a positive year-over-year growth rate of 3.4%. The business is expected to report its next quarterly earnings report on Thursday, November 1st.
According to Zacks, analysts expect that Uniti Group will report full-year sales of $1.01 billion for the current fiscal year. For the next year, analysts forecast that the company will report sales of $1.07 billion per share, with estimates ranging from $1.06 billion to $1.10 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Uniti Group.
Uniti Group (NASDAQ:UNIT) last posted its quarterly earnings data on Thursday, August 9th. The real estate investment trust reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.65). The firm had revenue of $247.30 million for the quarter, compared to analyst estimates of $250.07 million. Uniti Group had a negative return on equity of 1.45% and a net margin of 1.83%. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 EPS.
UNIT has been the topic of a number of analyst reports. BidaskClub downgraded Uniti Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 1st. Citigroup downgraded Uniti Group from a “neutral” rating to a “sell” rating and set a $27.00 price target on the stock. in a research note on Wednesday, July 18th. ValuEngine downgraded Uniti Group from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 27th. Royal Bank of Canada reissued a “buy” rating and issued a $22.00 price target on shares of Uniti Group in a research note on Friday, August 17th. Finally, Morgan Stanley downgraded Uniti Group from an “overweight” rating to an “equal weight” rating and set a $24.00 price target on the stock. in a research note on Thursday, June 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Uniti Group currently has a consensus rating of “Hold” and a consensus target price of $25.80.
Hedge funds have recently bought and sold shares of the company. Canada Pension Plan Investment Board increased its position in shares of Uniti Group by 39,066.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 4,700,000 shares of the real estate investment trust’s stock valued at $94,141,000 after buying an additional 4,688,000 shares in the last quarter. Barclays PLC increased its position in shares of Uniti Group by 128.5% in the 1st quarter. Barclays PLC now owns 2,789,454 shares of the real estate investment trust’s stock valued at $45,329,000 after buying an additional 1,568,732 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Uniti Group by 12.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,426,657 shares of the real estate investment trust’s stock valued at $48,605,000 after buying an additional 276,052 shares in the last quarter. Sylebra HK Co Ltd increased its position in shares of Uniti Group by 4.9% in the 2nd quarter. Sylebra HK Co Ltd now owns 2,345,214 shares of the real estate investment trust’s stock valued at $46,975,000 after buying an additional 109,478 shares in the last quarter. Finally, Toscafund Asset Management LLP bought a new stake in shares of Uniti Group in the 2nd quarter valued at $45,068,000. 71.36% of the stock is currently owned by institutional investors.
Shares of UNIT stock traded up $0.32 during trading hours on Friday, reaching $20.66. The company had a trading volume of 2,517,530 shares, compared to its average volume of 2,135,945. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of -0.04. The company has a market cap of $3.59 billion, a P/E ratio of 8.31, a price-to-earnings-growth ratio of 0.94 and a beta of 0.77. Uniti Group has a 1-year low of $13.81 and a 1-year high of $23.42.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 11.62%. The ex-dividend date is Thursday, September 27th. Uniti Group’s dividend payout ratio (DPR) is currently 95.62%.
About Uniti Group
Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of wireless infrastructure solutions for the communications industry. As of June 30, 2018, Uniti owns 5.4 million fiber strand miles, approximately 770 wireless towers, and other communications real estate throughout the United States and Latin America.
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