Wall Street analysts expect Unit Co. (NYSE:UNT) to report $0.05 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have made estimates for Unit’s earnings, with estimates ranging from ($0.04) to $0.12. Unit reported earnings of $0.21 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 76.2%. The firm is expected to issue its next earnings results before the market opens on Tuesday, August 6th.
According to Zacks, analysts expect that Unit will report full year earnings of $0.38 per share for the current financial year, with EPS estimates ranging from $0.06 to $0.69. For the next year, analysts forecast that the business will post earnings of $1.06 per share, with EPS estimates ranging from ($0.25) to $2.50. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Unit.
Several equities research analysts have issued reports on UNT shares. Zacks Investment Research upgraded Unit from a “sell” rating to a “hold” rating in a research report on Saturday, July 13th. Raymond James set a $22.00 price target on shares of Unit and gave the stock a “buy” rating in a report on Friday, May 3rd. TheStreet cut shares of Unit from a “c-” rating to a “d+” rating in a report on Tuesday, May 21st. Finally, ValuEngine cut shares of Unit from a “sell” rating to a “strong sell” rating in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. Unit currently has a consensus rating of “Hold” and an average price target of $23.33.
Institutional investors have recently added to or reduced their stakes in the company. Magnus Financial Group LLC bought a new position in shares of Unit in the second quarter worth $99,000. Wedge Capital Management L L P NC lifted its stake in Unit by 36.0% in the second quarter. Wedge Capital Management L L P NC now owns 16,620 shares of the oil and gas company’s stock valued at $148,000 after purchasing an additional 4,403 shares during the last quarter. Everence Capital Management Inc. purchased a new position in Unit in the first quarter valued at approximately $151,000. Nisa Investment Advisors LLC lifted its stake in Unit by 123.1% in the first quarter. Nisa Investment Advisors LLC now owns 10,875 shares of the oil and gas company’s stock valued at $155,000 after purchasing an additional 6,000 shares during the last quarter. Finally, United Services Automobile Association lifted its stake in Unit by 7.3% in the fourth quarter. United Services Automobile Association now owns 12,302 shares of the oil and gas company’s stock valued at $176,000 after purchasing an additional 838 shares during the last quarter. 86.67% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:UNT traded down $0.17 during trading on Thursday, hitting $4.51. 1,651,317 shares of the company were exchanged, compared to its average volume of 493,253. The firm has a market cap of $322.27 million, a P/E ratio of 4.51 and a beta of 2.54. The firm’s 50 day moving average is $7.79. Unit has a 52-week low of $4.63 and a 52-week high of $29.06. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.43.
Unit Company Profile
Unit Corporation, together with its subsidiaries, engages in the exploration, acquisition, development, and production of oil and natural gas properties in the United States. It operates through three segments: Oil and Natural Gas, Contract Drilling, and Mid-Stream. The Oil and Natural Gas segment explores for, acquires, develops, and produces oil and natural gas properties.
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