Equities analysts expect that Uniti Group Inc (NASDAQ:UNIT) will post $0.57 earnings per share for the current quarter, Zacks reports. Four analysts have made estimates for Uniti Group’s earnings, with the highest EPS estimate coming in at $0.59 and the lowest estimate coming in at $0.56. Uniti Group reported earnings per share of $0.65 in the same quarter last year, which suggests a negative year-over-year growth rate of 12.3%. The business is expected to issue its next quarterly earnings report after the market closes on Thursday, May 4th.
According to Zacks, analysts expect that Uniti Group will report full year earnings of $2.34 per share for the current fiscal year, with EPS estimates ranging from $2.33 to $2.35. For the next year, analysts anticipate that the company will report earnings of $2.42 per share, with EPS estimates ranging from $2.39 to $2.45. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Uniti Group.
Uniti Group (NASDAQ:UNIT) last released its earnings results on Thursday, February 23rd. The real estate investment trust reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by $0.05. Uniti Group had a net margin of 1.54% and a negative return on equity of 0.88%. The firm earned $206.90 million during the quarter, compared to analyst estimates of $206.88 million. Uniti Group’s revenue for the quarter was up 19.0% on a year-over-year basis.
Several research firms recently weighed in on UNIT. Wells Fargo & Co began coverage on shares of Uniti Group in a report on Thursday, February 16th. They issued an “outperform” rating for the company. Zacks Investment Research upgraded shares of Uniti Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 17th. Finally, Morgan Stanley began coverage on shares of Uniti Group in a report on Tuesday, February 28th. They issued an “overweight” rating for the company. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Uniti Group presently has a consensus rating of “Buy” and an average target price of $32.80.
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Several institutional investors have recently bought and sold shares of the company. Delta Asset Management LLC TN acquired a new position in Uniti Group during the first quarter valued at approximately $127,000. Glen Harbor Capital Management LLC acquired a new position in Uniti Group during the first quarter valued at approximately $134,000. Nisa Investment Advisors LLC acquired a new position in Uniti Group during the first quarter valued at approximately $230,000. Moody National Bank Trust Division acquired a new position in Uniti Group during the first quarter valued at approximately $236,000. Finally, Russell Investments Group Ltd. acquired a new position in Uniti Group during the first quarter valued at approximately $242,000. Institutional investors and hedge funds own 62.80% of the company’s stock.
Uniti Group (NASDAQ:UNIT) traded up 0.70% during trading on Thursday, hitting $27.46. The company had a trading volume of 1,632,026 shares. The stock’s market capitalization is $4.28 billion. The firm’s 50 day moving average is $26.21 and its 200-day moving average is $26.63. Uniti Group has a 52-week low of $22.50 and a 52-week high of $32.73.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 14th. Shareholders of record on Friday, March 31st were paid a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, March 29th. This represents a $2.40 annualized dividend and a dividend yield of 8.74%. Uniti Group’s dividend payout ratio (DPR) is 4,800.00%.
Uniti Group Company Profile
Uniti Group Inc, formerly Communications Sales & Leasing, Inc, is an internally managed real estate investment trust engaged in the acquisition and construction of infrastructure in the communications industry. The Company focuses on acquiring and constructing fiber optic broadband networks, wireless communications towers, copper and coaxial broadband networks and data centers.
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