Wall Street analysts expect Unit Co. (NYSE:UNT) to report earnings per share of $0.19 for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Unit’s earnings. The highest EPS estimate is $0.25 and the lowest is $0.15. Unit reported earnings of $0.10 per share in the same quarter last year, which indicates a positive year over year growth rate of 90%. The business is scheduled to issue its next earnings results on Thursday, November 1st.
On average, analysts expect that Unit will report full year earnings of $0.86 per share for the current year, with EPS estimates ranging from $0.75 to $0.96. For the next financial year, analysts anticipate that the business will report earnings of $1.09 per share, with EPS estimates ranging from $0.97 to $1.29. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Unit.
Unit (NYSE:UNT) last announced its quarterly earnings results on Thursday, August 9th. The oil and gas company reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.07. Unit had a net margin of 13.28% and a return on equity of 2.78%. The firm had revenue of $203.30 million for the quarter, compared to analyst estimates of $202.88 million. During the same period last year, the business earned $0.07 EPS. Unit’s revenue for the quarter was up 19.2% compared to the same quarter last year.
Several equities research analysts recently commented on the stock. KLR Group reiterated a “hold” rating and set a $30.00 price target on shares of Unit in a research note on Monday, August 20th. SunTrust Banks reiterated a “hold” rating and set a $26.00 price target on shares of Unit in a research note on Friday, August 10th. Cowen set a $30.00 price target on shares of Unit and gave the stock a “hold” rating in a research note on Thursday, July 19th. ValuEngine upgraded shares of Unit from a “hold” rating to a “buy” rating in a research note on Thursday, June 21st. Finally, Zacks Investment Research upgraded shares of Unit from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 20th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $26.67.
Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in Unit during the 1st quarter worth $110,000. Strs Ohio purchased a new position in Unit during the 2nd quarter worth $237,000. Meadow Creek Investment Management LLC grew its position in Unit by 26.8% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 9,940 shares of the oil and gas company’s stock worth $254,000 after purchasing an additional 2,100 shares during the last quarter. GW&K Investment Management LLC purchased a new position in Unit during the 1st quarter worth $210,000. Finally, Mackay Shields LLC purchased a new position in Unit during the 1st quarter worth $211,000. 95.81% of the stock is currently owned by institutional investors.
NYSE:UNT traded down $0.04 during midday trading on Friday, hitting $25.29. 7,632 shares of the company were exchanged, compared to its average volume of 267,374. Unit has a fifty-two week low of $15.76 and a fifty-two week high of $28.68. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $1.41 billion, a P/E ratio of 46.33 and a beta of 2.98.
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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