Analysts Anticipate Uniti Group Inc (UNIT) Will Post Earnings of $0.54 Per Share

Wall Street brokerages expect that Uniti Group Inc (NASDAQ:UNIT) will post $0.54 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Uniti Group’s earnings. The highest EPS estimate is $0.58 and the lowest is $0.51. Uniti Group posted earnings of $0.62 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 12.9%. The firm is expected to issue its next earnings results on Thursday, May 9th.

On average, analysts expect that Uniti Group will report full year earnings of $2.22 per share for the current financial year, with EPS estimates ranging from $2.19 to $2.24. For the next financial year, analysts expect that the business will report earnings of $2.22 per share, with EPS estimates ranging from $2.20 to $2.23. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Uniti Group.

Uniti Group (NASDAQ:UNIT) last issued its quarterly earnings results on Wednesday, March 20th. The real estate investment trust reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.58). The business had revenue of $270.75 million during the quarter, compared to analysts’ expectations of $267.00 million. Uniti Group had a net margin of 0.91% and a negative return on equity of 0.67%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 EPS.

A number of research analysts recently commented on the company. JPMorgan Chase & Co. downgraded Uniti Group from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $23.00 to $16.00 in a report on Tuesday, February 19th. Cowen downgraded Uniti Group from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 19th. Raymond James downgraded Uniti Group from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, February 19th. BidaskClub raised Uniti Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 29th. Finally, Morgan Stanley downgraded Uniti Group from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $24.00 to $16.00 in a report on Wednesday, December 12th. Six analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $15.00.

A number of large investors have recently added to or reduced their stakes in the business. First Allied Advisory Services Inc. lifted its holdings in Uniti Group by 5.7% during the 4th quarter. First Allied Advisory Services Inc. now owns 13,598 shares of the real estate investment trust’s stock worth $212,000 after buying an additional 728 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in Uniti Group by 6.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 11,569 shares of the real estate investment trust’s stock worth $180,000 after buying an additional 732 shares during the last quarter. Private Capital Group LLC lifted its holdings in Uniti Group by 52.7% during the 4th quarter. Private Capital Group LLC now owns 2,150 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 742 shares during the last quarter. Securian Asset Management Inc lifted its holdings in Uniti Group by 0.9% during the 4th quarter. Securian Asset Management Inc now owns 87,860 shares of the real estate investment trust’s stock worth $1,368,000 after buying an additional 747 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in Uniti Group by 2.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 32,789 shares of the real estate investment trust’s stock worth $510,000 after buying an additional 910 shares during the last quarter. 72.25% of the stock is currently owned by institutional investors.

UNIT traded up $0.79 on Wednesday, reaching $12.09. The company’s stock had a trading volume of 8,600,167 shares, compared to its average volume of 5,273,371. The company has a market capitalization of $2.05 billion, a P/E ratio of 4.82, a P/E/G ratio of 1.78 and a beta of 1.07. Uniti Group has a 1 year low of $8.06 and a 1 year high of $23.42.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 1st will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Friday, March 29th. Uniti Group’s dividend payout ratio is presently 7.97%.

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 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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