$265.62 Million in Sales Expected for Uniti Group Inc (UNIT) This Quarter

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Equities analysts expect Uniti Group Inc (NASDAQ:UNIT) to post $265.62 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Uniti Group’s earnings. The highest sales estimate is $269.00 million and the lowest is $263.80 million. Uniti Group reported sales of $247.33 million during the same quarter last year, which would suggest a positive year over year growth rate of 7.4%. The business is expected to report its next quarterly earnings results on Thursday, August 8th.

According to Zacks, analysts expect that Uniti Group will report full year sales of $1.08 billion for the current fiscal year, with estimates ranging from $1.07 billion to $1.09 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.06 billion, with estimates ranging from $948.89 million to $1.14 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Uniti Group.

Uniti Group (NASDAQ:UNIT) last posted its earnings results on Thursday, May 9th. The real estate investment trust reported $0.01 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.54). Uniti Group had a net margin of 1.16% and a negative return on equity of 0.82%. The business had revenue of $261.03 million during the quarter, compared to analyst estimates of $270.25 million.

UNIT has been the topic of several analyst reports. ValuEngine cut Uniti Group from a “hold” rating to a “sell” rating in a research report on Friday, February 22nd. Deutsche Bank lowered their target price on Uniti Group from $20.00 to $8.00 and set a “hold” rating on the stock in a research report on Friday, March 22nd. Cowen cut Uniti Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 19th. BidaskClub cut Uniti Group from a “buy” rating to a “hold” rating in a research report on Friday, February 22nd. Finally, Morgan Stanley lowered their target price on Uniti Group from $16.00 to $7.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 26th. Six investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $15.00.

UNIT traded down $0.11 during trading hours on Tuesday, hitting $10.47. The company’s stock had a trading volume of 95,739 shares, compared to its average volume of 3,025,400. Uniti Group has a fifty-two week low of $8.06 and a fifty-two week high of $23.42. The stock has a market cap of $1.95 billion, a P/E ratio of 4.16, a P/E/G ratio of 1.53 and a beta of 1.04.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Thursday, June 27th. Uniti Group’s payout ratio is currently 7.97%.

A number of hedge funds and other institutional investors have recently modified their holdings of UNIT. Private Capital Group LLC boosted its stake in Uniti Group by 52.7% during the 4th quarter. Private Capital Group LLC now owns 2,150 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 742 shares in the last quarter. Truvestments Capital LLC bought a new position in Uniti Group during the 1st quarter valued at $59,000. Oregon Public Employees Retirement Fund boosted its stake in Uniti Group by 1,578.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,091,800 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 1,026,739 shares in the last quarter. Athena Capital Advisors LLC bought a new position in Uniti Group during the 4th quarter valued at $82,000. Finally, Rocky Mountain Advisers LLC boosted its stake in Uniti Group by 1,566.7% during the 1st quarter. Rocky Mountain Advisers LLC now owns 7,500 shares of the real estate investment trust’s stock valued at $84,000 after purchasing an additional 7,050 shares in the last quarter. 69.11% of the stock is owned by hedge funds and other institutional investors.

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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