Uniti Group (UNIT) Upgraded to Buy at BidaskClub

Uniti Group (NASDAQ:UNIT) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a report released on Monday, April 1st, BidAskClub reports.

Several other analysts also recently weighed in on the stock. ValuEngine downgraded shares of Uniti Group from a “sell” rating to a “strong sell” rating in a report on Monday, April 1st. Deutsche Bank dropped their target price on shares of Uniti Group from $20.00 to $8.00 and set a “hold” rating for the company in a report on Friday, March 22nd. Citigroup dropped their target price on shares of Uniti Group from $11.00 to $8.00 and set a “sell” rating for the company in a report on Tuesday, March 19th. Zacks Investment Research downgraded shares of Uniti Group from a “hold” rating to a “sell” rating in a report on Friday, March 8th. Finally, Wells Fargo & Co cut shares of Uniti Group from a “market perform” rating to an “underperform” rating and raised their price target for the company from $8.00 to $23.00 in a research report on Tuesday, March 5th. Six equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $15.00.

Shares of NASDAQ UNIT traded up $0.16 during midday trading on Monday, reaching $11.85. 1,617,254 shares of the stock were exchanged, compared to its average volume of 4,750,838. The company has a market capitalization of $2.14 billion, a P/E ratio of 4.72, a P/E/G ratio of 1.81 and a beta of 1.07. Uniti Group has a twelve month low of $8.06 and a twelve month high of $23.42.

Uniti Group (NASDAQ:UNIT) last announced its quarterly earnings results on Wednesday, March 20th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.58). The firm had revenue of $270.75 million for the quarter, compared to analyst estimates of $267.00 million. Uniti Group had a negative return on equity of 0.67% and a net margin of 0.91%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 EPS. As a group, equities research analysts forecast that Uniti Group will post 2.18 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Bank of Montreal Can lifted its position in shares of Uniti Group by 15,343.2% during the 4th quarter. Bank of Montreal Can now owns 4,285,801 shares of the real estate investment trust’s stock worth $66,729,000 after purchasing an additional 4,258,049 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Uniti Group during the 4th quarter worth $45,727,000. Vanguard Group Inc lifted its position in shares of Uniti Group by 9.2% during the 3rd quarter. Vanguard Group Inc now owns 24,299,028 shares of the real estate investment trust’s stock worth $489,626,000 after purchasing an additional 2,051,974 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Uniti Group by 9.2% during the 3rd quarter. Vanguard Group Inc. now owns 24,299,028 shares of the real estate investment trust’s stock worth $489,626,000 after purchasing an additional 2,051,974 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Uniti Group during the 4th quarter worth $23,467,000. 72.23% of the stock is owned by institutional investors.

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, 2018, Uniti owns 5.5 million fiber strand miles, approximately 928 wireless towers, and other communications real estate throughout the United States and Latin America.

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Analyst Recommendations for Uniti Group (NASDAQ:UNIT)

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