Analysts Anticipate Uniti Group Inc (UNIT) to Post $0.63 Earnings Per Share

Brokerages expect Uniti Group Inc (NASDAQ:UNIT) to announce earnings per share (EPS) of $0.63 for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Uniti Group’s earnings, with estimates ranging from $0.62 to $0.63. Uniti Group posted earnings of $0.60 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 5%. The firm is expected to report its next quarterly earnings report on Thursday, August 2nd.

On average, analysts expect that Uniti Group will report full year earnings of $2.56 per share for the current financial year, with EPS estimates ranging from $2.55 to $2.56. For the next fiscal year, analysts anticipate that the company will report earnings of $2.65 per share, with EPS estimates ranging from $2.61 to $2.71. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Uniti Group.

Uniti Group (NASDAQ:UNIT) last released its earnings results on Thursday, May 10th. The real estate investment trust reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.02). The company had revenue of $246.90 million for the quarter, compared to analysts’ expectations of $247.08 million. Uniti Group had a net margin of 0.75% and a negative return on equity of 0.60%. Uniti Group’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 earnings per share.

UNIT has been the topic of several analyst reports. ValuEngine downgraded Uniti Group from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Morgan Stanley downgraded Uniti Group from an “overweight” rating to an “equal weight” rating and set a $24.00 target price on the stock. in a research report on Thursday, June 14th. Cowen set a $26.00 target price on Uniti Group and gave the company a “buy” rating in a research report on Friday, March 2nd. BidaskClub raised Uniti Group from a “sell” rating to a “hold” rating in a report on Saturday, March 17th. Finally, Zacks Investment Research raised Uniti Group from a “strong sell” rating to a “hold” rating in a report on Thursday, May 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $25.29.

Large investors have recently bought and sold shares of the business. Raymond James & Associates raised its holdings in Uniti Group by 24.6% during the fourth quarter. Raymond James & Associates now owns 645,676 shares of the real estate investment trust’s stock valued at $11,487,000 after acquiring an additional 127,272 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Uniti Group by 15.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 281,939 shares of the real estate investment trust’s stock worth $5,016,000 after purchasing an additional 37,580 shares during the last quarter. Advisory Services Network LLC increased its holdings in shares of Uniti Group by 10.0% in the fourth quarter. Advisory Services Network LLC now owns 51,251 shares of the real estate investment trust’s stock worth $912,000 after purchasing an additional 4,651 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Uniti Group in the fourth quarter worth about $1,049,000. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of Uniti Group in the fourth quarter worth about $302,000. 75.21% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ UNIT traded up $0.09 on Friday, hitting $22.69. 92,093 shares of the company traded hands, compared to its average volume of 1,681,592. The company has a market capitalization of $4.01 billion, a PE ratio of 9.00, a price-to-earnings-growth ratio of 1.04 and a beta of 0.78. The company has a debt-to-equity ratio of -0.04, a quick ratio of 0.03 and a current ratio of 0.03. Uniti Group has a 52-week low of $13.81 and a 52-week high of $26.74.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Shareholders of record on Friday, June 29th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $2.40 dividend on an annualized basis and a yield of 10.58%. Uniti Group’s dividend payout ratio is presently 95.62%.

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, 2017, Uniti owns 4.9 million fiber strand miles, approximately 700 wireless towers, and other communications real estate throughout the United States and Latin America.

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