Unit Receives Consensus Recommendation of “Hold” from Analysts (NYSE:UNT)
Shares of Unit (NYSE:UNT) have received an average recommendation of “Hold” from the nine ratings firms that are presently covering the stock, Analyst Ratings Network reports. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $64.70.
UNT has been the subject of a number of recent research reports. Analysts at Iberia Capital initiated coverage on shares of Unit in a research note on Friday. They set a “sector perform” rating and a $73.00 price target on the stock. Analysts at Zacks downgraded shares of Unit from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 13th. They now have a $70.60 price target on the stock.
Shares of Unit (NYSE:UNT) traded up 0.64% during mid-day trading on Friday, hitting $67.98. The stock had a trading volume of 33,464 shares. Unit has a 52-week low of $42.35 and a 52-week high of $68.44. The stock has a 50-day moving average of $64.90 and a 200-day moving average of $59.24. The company has a market cap of $3.370 billion and a P/E ratio of 16.32. Unit also was the target of a significant drop in short interest in June. As of June 13th, there was short interest totalling 749,010 shares, a drop of 30.1% from the May 30th total of 1,071,969 shares. Approximately 1.5% of the shares of the stock are short sold. Based on an average trading volume of 212,645 shares, the days-to-cover ratio is presently 3.5 days.
Unit (NYSE:UNT) last issued its quarterly earnings data on Thursday, May 8th. The company reported $1.29 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.14 by $0.15. On average, analysts predict that Unit will post $4.92 earnings per share for the current fiscal year.
Unit Corporation (NYSE:UNT) is a contract drilling company.
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