Uniti Group (NASDAQ:UNIT) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.
Other equities analysts have also issued reports about the stock. ValuEngine raised shares of Uniti Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 15th. Zacks Investment Research downgraded shares of Uniti Group from a “buy” rating to a “hold” rating in a research note on Sunday, July 15th. Cowen set a $28.00 price objective on shares of Uniti Group and gave the company a “buy” rating in a research note on Saturday, August 11th. Citigroup downgraded shares of Uniti Group from a “neutral” rating to a “sell” rating and set a $27.00 price objective on the stock. in a research note on Wednesday, July 18th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $22.00 price objective on shares of Uniti Group in a research note on Friday, August 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Uniti Group presently has an average rating of “Hold” and an average target price of $25.80.
Shares of NASDAQ:UNIT opened at $19.82 on Friday. The company has a market cap of $3.54 billion, a PE ratio of 7.90, a P/E/G ratio of 0.93 and a beta of 0.77. Uniti Group has a one year low of $13.94 and a one year high of $23.42. The company has a debt-to-equity ratio of -0.04, a quick ratio of 0.04 and a current ratio of 0.04.
Uniti Group (NASDAQ:UNIT) last issued its earnings results on Thursday, August 9th. The real estate investment trust reported ($0.03) EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.65). The company had revenue of $247.30 million for the quarter, compared to analysts’ expectations of $250.07 million. Uniti Group had a negative return on equity of 1.45% and a net margin of 1.83%. The business’s revenue was up 16.1% compared to the same quarter last year. During the same period last year, the business posted $0.60 earnings per share. Sell-side analysts anticipate that Uniti Group will post 2.48 earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in UNIT. Quad Cities Investment Group LLC bought a new position in shares of Uniti Group during the second quarter valued at approximately $111,000. Winslow Evans & Crocker Inc. boosted its stake in shares of Uniti Group by 16,322.2% during the second quarter. Winslow Evans & Crocker Inc. now owns 5,912 shares of the real estate investment trust’s stock valued at $120,000 after purchasing an additional 5,876 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Uniti Group during the second quarter valued at approximately $132,000. Sei Investments Co. boosted its stake in shares of Uniti Group by 48.5% during the first quarter. Sei Investments Co. now owns 9,388 shares of the real estate investment trust’s stock valued at $152,000 after purchasing an additional 3,067 shares in the last quarter. Finally, Oakbrook Investments LLC bought a new position in shares of Uniti Group during the third quarter valued at approximately $217,000. Hedge funds and other institutional investors own 71.05% of the company’s stock.
Uniti Group Company Profile
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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