Wall Street analysts expect Uniti Group Inc. (NASDAQ:UNIT – Get Rating) to report sales of $274.21 million for the current quarter, Zacks reports. Three analysts have provided estimates for Uniti Group’s earnings, with the lowest sales estimate coming in at $268.18 million and the highest estimate coming in at $279.35 million. Uniti Group reported sales of $268.18 million in the same quarter last year, which indicates a positive year over year growth rate of 2.2%. The company is expected to report its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that Uniti Group will report full-year sales of $1.12 billion for the current year, with estimates ranging from $1.12 billion to $1.13 billion. For the next financial year, analysts expect that the business will post sales of $1.15 billion, with estimates ranging from $1.14 billion to $1.16 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Uniti Group.
Uniti Group (NASDAQ:UNIT – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.20). The firm had revenue of $278.00 million for the quarter, compared to analysts’ expectations of $278.94 million. Uniti Group had a negative return on equity of 8.54% and a net margin of 16.32%. Uniti Group’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 earnings per share.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PenderFund Capital Management Ltd. bought a new stake in shares of Uniti Group during the 1st quarter worth $48,000. Lazard Asset Management LLC bought a new stake in shares of Uniti Group during the 1st quarter worth $42,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Uniti Group during the 1st quarter worth $47,000. Exchange Traded Concepts LLC bought a new stake in shares of Uniti Group during the 4th quarter worth $54,000. Finally, Allworth Financial LP raised its stake in Uniti Group by 121.3% in the 1st quarter. Allworth Financial LP now owns 3,971 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 2,177 shares during the period. Institutional investors own 84.64% of the company’s stock.
UNIT opened at $10.76 on Tuesday. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 14.74 and a beta of 0.99. The firm’s fifty day moving average price is $12.73 and its two-hundred day moving average price is $12.80. Uniti Group has a 1 year low of $10.13 and a 1 year high of $14.60.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Friday, June 17th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.58%. The ex-dividend date of this dividend is Thursday, June 16th. Uniti Group’s payout ratio is 82.19%.
Uniti Group Company Profile (Get Rating)
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 September 30, 2020, Uniti owns 6.7 million fiber strand miles and other communications real estate throughout the United States.
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