Uniti Group Inc. (NASDAQ:UNIT) Stock Has Average Target Price of $11.47

Key Points

• Analyst sentiment is mostly neutral: Nine firms give Uniti Group a consensus “Hold” rating, with an average 12-month price target of $11.47. Recent targets range from $11 to $16.
• The stock has weakened significantly, opening at $5.60 versus a 52-week high of $12.94, while its 50-day and 200-day moving averages stand at $9.07 and $10.35, respectively.
• Quarterly earnings missed expectations: Uniti reported a loss of $0.68 per share versus the forecasted loss of $0.45, despite revenue of $909.7 million exceeding estimates. Institutional investors and hedge funds own 87.51% of the stock.

Shares of Uniti Group Inc. (NASDAQ:UNIT - Get Free Report) have received a consensus recommendation of "Hold" from the nine research firms that are covering the firm, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $11.47.

Several research analysts recently issued reports on the stock. TD Cowen reduced their target price on shares of Uniti Group from $12.00 to $11.00 and set a "buy" rating for the company in a report on Friday, July 31st. JPMorgan Chase & Co. reduced their price objective on Uniti Group from $12.00 to $11.00 and set a "neutral" rating for the company in a research note on Friday, July 31st. Weiss Ratings downgraded Uniti Group from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday. Raymond James Financial set a $16.00 target price on shares of Uniti Group and gave the company a "strong-buy" rating in a report on Tuesday, September 29th. Finally, Barclays increased their target price on shares of Uniti Group from $11.00 to $13.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 1st.

Uniti Group Stock Performance

NASDAQ UNIT opened at $5.60 on Friday. The company has a market capitalization of $1.36 billion, a P/E ratio of 2.07 and a beta of 1.42. Uniti Group has a one year low of $5.45 and a one year high of $12.94. The stock has a 50 day moving average price of $9.07 and a 200-day moving average price of $10.35.

Uniti Group (NASDAQ:UNIT - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported ($0.68) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.45) by ($0.23). Uniti Group had a negative return on equity of 133.07% and a net margin of 28.68%. The business had revenue of $909.70 million for the quarter, compared to the consensus estimate of $884.82 million. As a group, equities analysts predict that Uniti Group will post -2.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Uniti Group

Several institutional investors have recently modified their holdings of UNIT. Bank of New York Mellon Corp acquired a new stake in Uniti Group in the second quarter valued at $15,701,000. Principal Financial Group Inc. lifted its stake in Uniti Group by 2.0% in the first quarter. Principal Financial Group Inc. now owns 870,891 shares of the real estate investment trust's stock valued at $8,169,000 after buying an additional 16,971 shares during the last quarter. Mizuho Markets Americas LLC boosted its holdings in shares of Uniti Group by 26.9% in the first quarter. Mizuho Markets Americas LLC now owns 505,246 shares of the real estate investment trust's stock valued at $4,739,000 after acquiring an additional 107,000 shares during the period. First Trust Advisors LP purchased a new position in Uniti Group during the 1st quarter worth $4,203,000. Finally, Hsbc Holdings PLC purchased a new stake in Uniti Group during the 1st quarter valued at approximately $1,781,000. Institutional investors and hedge funds own 87.51% of the company's stock.

Uniti Group Company Profile

Uniti Group Inc is a communications infrastructure company that owns, operates and leases fiber-optic networks, wireless infrastructure and other telecommunications real estate. Its assets support broadband providers, wireless carriers, enterprises, government organizations and other communications customers.

The company's services and infrastructure include dark-fiber leasing, lit fiber transport, network backhaul, fiber-to-the-tower connections, small-cell infrastructure, wireless towers and related colocation or real estate arrangements.

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