Wall Street analysts expect Uniti Group Inc (NASDAQ:UNIT) to announce $0.64 earnings per share for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Uniti Group’s earnings, with the lowest EPS estimate coming in at $0.62 and the highest estimate coming in at $0.65. Uniti Group also reported earnings per share of $0.64 during the same quarter last year. The company is scheduled to report its next earnings report on Thursday, March 7th.
According to Zacks, analysts expect that Uniti Group will report full year earnings of $2.50 per share for the current year, with EPS estimates ranging from $2.49 to $2.51. For the next financial year, analysts expect that the firm will report earnings of $2.62 per share, with EPS estimates ranging from $2.61 to $2.62. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Uniti Group.
Uniti Group (NASDAQ:UNIT) last announced its earnings results on Thursday, November 1st. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.02). The business had revenue of $252.60 million for the quarter, compared to analyst estimates of $253.97 million. Uniti Group had a negative return on equity of 1.33% and a net margin of 1.76%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 EPS.
A number of brokerages have issued reports on UNIT. ValuEngine upgraded shares of Uniti Group from a “sell” rating to a “hold” rating in a research report on Thursday, September 13th. BidaskClub cut shares of Uniti Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 1st. Zacks Investment Research cut shares of Uniti Group from a “hold” rating to a “sell” rating in a research report on Wednesday, November 7th. Royal Bank of Canada restated a “buy” rating and set a $22.00 target price on shares of Uniti Group in a research report on Friday, August 17th. Finally, Cowen set a $28.00 target price on shares of Uniti Group and gave the stock a “buy” rating in a research report on Saturday, August 11th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $25.80.
Large investors have recently bought and sold shares of the company. Angelo Gordon & CO. L.P. acquired a new position in shares of Uniti Group in the second quarter valued at approximately $34,003,000. Cornerstone Wealth Management LLC acquired a new position in shares of Uniti Group in the second quarter valued at approximately $629,000. First Trust Advisors LP purchased a new stake in Uniti Group in the second quarter valued at approximately $425,000. Mackay Shields LLC purchased a new stake in Uniti Group in the second quarter valued at approximately $12,237,000. Finally, Securian Asset Management Inc grew its holdings in Uniti Group by 5.7% in the third quarter. Securian Asset Management Inc now owns 87,113 shares of the real estate investment trust’s stock valued at $1,755,000 after purchasing an additional 4,686 shares during the period. 70.47% of the stock is owned by institutional investors and hedge funds.
UNIT traded up $0.09 during midday trading on Friday, reaching $19.93. 1,794,695 shares of the company’s stock were exchanged, compared to its average volume of 1,281,238. The stock has a market cap of $3.57 billion, a P/E ratio of 7.94, a PEG ratio of 0.93 and a beta of 0.76. Uniti Group has a 1-year low of $13.94 and a 1-year high of $23.42.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 12.04%. The ex-dividend date is Friday, December 28th. Uniti Group’s dividend payout ratio is presently 95.62%.
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 September 30, 2018, Uniti owns 5.4 million fiber strand miles, approximately 850 wireless towers, and other communications real estate throughout the United States and Latin America.
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