Analysts expect that Uniti Group Inc (NASDAQ:UNIT) will announce $270.25 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Uniti Group’s earnings, with estimates ranging from $268.80 million to $271.70 million. Uniti Group reported sales of $246.92 million in the same quarter last year, which indicates a positive year-over-year growth rate of 9.4%. The business is expected to report its next quarterly earnings results on Thursday, May 9th.
On average, analysts expect that Uniti Group will report full-year sales of $1.08 billion for the current financial year, with estimates ranging from $1.08 billion to $1.09 billion. For the next financial year, analysts expect that the company will post sales of $1.05 billion, with estimates ranging from $948.17 million to $1.10 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Uniti Group.
Uniti Group (NASDAQ:UNIT) last posted its earnings results on Wednesday, March 20th. The real estate investment trust reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.58). Uniti Group had a net margin of 0.91% and a negative return on equity of 0.67%. The company had revenue of $270.75 million for the quarter, compared to the consensus estimate of $267.00 million. During the same quarter last year, the business earned $0.64 earnings per share. Uniti Group’s quarterly revenue was up 9.9% on a year-over-year basis.
Several equities analysts have weighed in on UNIT shares. Morgan Stanley lowered Uniti Group from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $24.00 to $16.00 in a report on Wednesday, December 12th. BidaskClub lowered Uniti Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 15th. Zacks Investment Research upgraded Uniti Group from a “strong sell” rating to a “hold” rating in a report on Saturday, January 5th. ValuEngine upgraded Uniti Group from a “sell” rating to a “hold” rating in a report on Monday, January 7th. Finally, Wells Fargo & Co lowered Uniti Group from an “outperform” rating to a “market perform” rating and cut their target price for the company from $23.00 to $17.00 in a report on Tuesday, January 8th. Six research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $15.00.
Several institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Uniti Group by 14.7% in the fourth quarter. Geode Capital Management LLC now owns 1,927,806 shares of the real estate investment trust’s stock valued at $30,015,000 after acquiring an additional 247,076 shares during the last quarter. Norges Bank bought a new position in shares of Uniti Group in the fourth quarter valued at approximately $23,467,000. Dimensional Fund Advisors LP raised its stake in shares of Uniti Group by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,574,722 shares of the real estate investment trust’s stock valued at $40,090,000 after acquiring an additional 75,056 shares during the last quarter. Advisory Services Network LLC raised its stake in shares of Uniti Group by 4.5% in the fourth quarter. Advisory Services Network LLC now owns 64,420 shares of the real estate investment trust’s stock valued at $1,003,000 after acquiring an additional 2,780 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in shares of Uniti Group by 6.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 65,637 shares of the real estate investment trust’s stock valued at $1,022,000 after acquiring an additional 3,962 shares during the last quarter. Institutional investors and hedge funds own 72.25% of the company’s stock.
NASDAQ UNIT traded up $0.79 during trading on Friday, hitting $12.09. 8,600,167 shares of the company traded hands, compared to its average volume of 5,273,371. Uniti Group has a 12 month low of $8.06 and a 12 month high of $23.42. The firm has a market cap of $2.05 billion, a P/E ratio of 4.82, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Monday, April 1st will be paid a $0.05 dividend. The ex-dividend date is Friday, March 29th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.65%. Uniti Group’s payout ratio is presently 7.97%.
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 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.
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