ValuEngine upgraded shares of Uniti Group (NASDAQ:UNIT) from a strong sell rating to a sell rating in a report issued on Wednesday morning.
A number of other equities research analysts have also recently weighed in on UNIT. BidaskClub raised Uniti Group from a hold rating to a buy rating in a report on Wednesday. Cowen set a $28.00 price target on Uniti Group and gave the company a buy rating in a report on Saturday, August 11th. Zacks Investment Research raised Uniti Group from a strong sell rating to a hold rating in a report on Thursday, May 3rd. Deutsche Bank cut Uniti Group from a buy rating to a hold rating and set a $28.00 price target for the company. in a report on Monday, May 14th. They noted that the move was a valuation call. Finally, Morgan Stanley cut Uniti Group from an overweight rating to an equal weight rating and set a $24.00 price target for the company. in a report on Thursday, June 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Uniti Group has a consensus rating of Hold and a consensus price target of $25.80.
UNIT stock opened at $19.97 on Wednesday. Uniti Group has a fifty-two week low of $13.81 and a fifty-two week high of $23.42. The firm has a market cap of $3.30 billion, a P/E ratio of 7.96, a price-to-earnings-growth ratio of 0.86 and a beta of 0.66. The company has a quick ratio of 0.04, a current ratio of 0.04 and a debt-to-equity ratio of -0.04.
Uniti Group (NASDAQ:UNIT) last released its quarterly earnings results on Thursday, August 9th. The real estate investment trust reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.65). Uniti Group had a net margin of 1.83% and a negative return on equity of 1.45%. The business had revenue of $247.30 million for the quarter, compared to analyst estimates of $250.07 million. During the same period in the prior year, the business earned $0.60 earnings per share. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. equities research analysts expect that Uniti Group will post 2.51 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be given a $0.60 dividend. The ex-dividend date is Thursday, September 27th. This represents a $2.40 dividend on an annualized basis and a yield of 12.02%. Uniti Group’s payout ratio is 95.62%.
A number of institutional investors and hedge funds have recently made changes to their positions in UNIT. Quad Cities Investment Group LLC bought a new position in Uniti Group in the 2nd quarter valued at $111,000. Winslow Evans & Crocker Inc. boosted its position in Uniti Group by 16,322.2% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 5,912 shares of the real estate investment trust’s stock valued at $120,000 after buying an additional 5,876 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in Uniti Group in the 2nd quarter valued at $132,000. Sei Investments Co. boosted its position in Uniti Group by 48.5% in the 1st quarter. Sei Investments Co. now owns 9,388 shares of the real estate investment trust’s stock valued at $152,000 after buying an additional 3,067 shares during the last quarter. Finally, DRW Securities LLC bought a new position in Uniti Group in the 1st quarter valued at $317,000. Hedge funds and other institutional investors own 74.29% of the company’s stock.
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 March 31, 2018, Uniti owns 5.0 million fiber strand miles, approximately 700 wireless towers, and other communications real estate throughout the United States and Latin America.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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