Brokerages expect Unit Co. (NYSE:UNT) to report $207.36 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Unit’s earnings. The highest sales estimate is $209.71 million and the lowest is $205.00 million. Unit posted sales of $175.72 million in the same quarter last year, which suggests a positive year over year growth rate of 18%. The firm is expected to announce its next earnings results on Thursday, May 3rd.
According to Zacks, analysts expect that Unit will report full year sales of $207.36 million for the current year, with estimates ranging from $847.00 million to $877.68 million. For the next financial year, analysts anticipate that the firm will report sales of $936.92 million per share, with estimates ranging from $915.00 million to $958.84 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Unit.
Unit (NYSE:UNT) last issued its quarterly earnings results on Thursday, February 22nd. The oil and gas company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03. Unit had a net margin of 15.93% and a return on equity of 2.19%. The company had revenue of $204.85 million during the quarter, compared to analyst estimates of $199.77 million. During the same quarter in the previous year, the firm earned $0.23 EPS. The firm’s revenue was up 17.5% compared to the same quarter last year.
Several equities research analysts have issued reports on the stock. ValuEngine cut shares of Unit from a “hold” rating to a “sell” rating in a research note on Monday, February 5th. Johnson Rice assumed coverage on shares of Unit in a research note on Wednesday, March 21st. They set a “hold” rating and a $26.00 target price on the stock. Cowen set a $27.00 target price on shares of Unit and gave the stock a “hold” rating in a research note on Thursday, January 18th. SunTrust Banks set a $27.00 target price on shares of Unit and gave the stock a “buy” rating in a research note on Friday, February 23rd. Finally, TheStreet raised shares of Unit from a “d+” rating to a “c” rating in a research note on Thursday, February 22nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $24.71.
UNT traded up $1.01 on Monday, hitting $19.82. 415,492 shares of the company’s stock were exchanged, compared to its average volume of 549,243. Unit has a fifty-two week low of $15.29 and a fifty-two week high of $26.82. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.61. The stock has a market cap of $972.09, a PE ratio of 36.72 and a beta of 2.93.
Hedge funds have recently made changes to their positions in the company. Bailard Inc. acquired a new position in shares of Unit during the 4th quarter valued at about $288,000. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of Unit during the 4th quarter valued at about $310,000. Macquarie Group Ltd. acquired a new position in shares of Unit during the 3rd quarter valued at about $313,000. Crossmark Global Holdings Inc. acquired a new position in shares of Unit during the 4th quarter valued at about $376,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of Unit during the 4th quarter valued at about $378,000. 94.73% of the stock is currently owned by hedge funds and other institutional investors.
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Unit Company Profile
Unit Corporation, together with its subsidiaries, operates as an oil and natural gas contract drilling company in the United States. The company operates through three segments: Oil and Natural Gas, Contract Drilling, and Mid-Stream. The Oil and Natural Gas segment acquires, explores, develops, and produces oil and natural gas properties, principally located in Oklahoma and Texas, as well as in Arkansas, Colorado, Kansas, Louisiana, Mississippi, Montana, New Mexico, North Dakota, Utah, and Wyoming.
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