Wall Street analysts predict that Uniti Group Inc (NASDAQ:UNIT) will announce earnings of $0.48 per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Uniti Group’s earnings. Uniti Group reported earnings of $0.64 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 25%. The business is expected to issue its next earnings report on Wednesday, March 18th.
According to Zacks, analysts expect that Uniti Group will report full year earnings of $2.06 per share for the current fiscal year. For the next fiscal year, analysts anticipate that the business will report earnings of $2.11 per share. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover Uniti Group.
Uniti Group (NASDAQ:UNIT) last issued its earnings results on Thursday, November 7th. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.54). Uniti Group had a negative return on equity of 3.77% and a net margin of 5.34%. The business had revenue of $263.63 million for the quarter, compared to the consensus estimate of $270.14 million.
UNIT has been the topic of a number of research analyst reports. BidaskClub lowered shares of Uniti Group from a “hold” rating to a “sell” rating in a research note on Saturday, November 2nd. ValuEngine upgraded shares of Uniti Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research upgraded shares of Uniti Group from a “strong sell” rating to a “hold” rating in a research note on Friday, October 11th. Six equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The stock presently has a consensus rating of “Sell” and a consensus target price of $12.57.
A number of hedge funds and other institutional investors have recently bought and sold shares of UNIT. Oregon Public Employees Retirement Fund grew its position in Uniti Group by 4.6% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 74,565 shares of the real estate investment trust’s stock worth $708,000 after purchasing an additional 3,262 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of Uniti Group by 22.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 90,131 shares of the real estate investment trust’s stock valued at $855,000 after acquiring an additional 16,559 shares in the last quarter. Ford Financial Group Inc. acquired a new stake in shares of Uniti Group during the 2nd quarter valued at about $103,000. Arizona State Retirement System boosted its position in shares of Uniti Group by 4.0% during the 2nd quarter. Arizona State Retirement System now owns 133,657 shares of the real estate investment trust’s stock valued at $1,270,000 after acquiring an additional 5,138 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Uniti Group during the 2nd quarter valued at about $469,000. Institutional investors own 77.36% of the company’s stock.
Uniti Group stock traded down $0.56 during midday trading on Friday, reaching $6.05. The stock had a trading volume of 3,828,100 shares, compared to its average volume of 3,453,133. Uniti Group has a twelve month low of $5.90 and a twelve month high of $20.14. The firm’s fifty day simple moving average is $7.46 and its two-hundred day simple moving average is $8.93. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 2.41, a PEG ratio of 1.15 and a beta of 1.04.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 14.55%. This is a positive change from Uniti Group’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Monday, December 30th. Uniti Group’s dividend payout ratio (DPR) is currently 7.97%.
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 December 31, 2018, Uniti owns 5.5 million fiber strand miles, approximately 928 wireless towers, and other communications real estate throughout the United States and Latin America.
Featured Story: Cost of Goods Sold (COGS)
Get a free copy of the Zacks research report on Uniti Group (UNIT)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Uniti Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Uniti Group and related companies with MarketBeat.com's FREE daily email newsletter.