Analysts expect that Uniti Group Inc. (NASDAQ:UNIT) will report sales of $271.16 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Uniti Group's earnings. The lowest sales estimate is $271.10 million and the highest is $271.21 million. Uniti Group posted sales of $258.77 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.8%. The company is expected to announce its next quarterly earnings report before the market opens on Thursday, November 4th.
According to Zacks, analysts expect that Uniti Group will report full-year sales of $1.09 billion for the current fiscal year. For the next year, analysts forecast that the company will report sales of $1.13 billion, with estimates ranging from $1.12 billion to $1.15 billion. Zacks Investment Research's sales averages are a mean average based on a survey of sell-side research analysts that follow Uniti Group.
Uniti Group (NASDAQ:UNIT) last released its quarterly earnings results on Thursday, August 5th. The real estate investment trust reported $0.20 EPS for the quarter, missing the Thomson Reuters' consensus estimate of $0.39 by ($0.19). Uniti Group had a net margin of 0.39% and a negative return on equity of 0.20%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Uniti Group by 2.1% in the second quarter. Vanguard Group Inc. now owns 40,290,881 shares of the real estate investment trust's stock worth $426,680,000 after purchasing an additional 813,244 shares during the period. BlackRock Inc. raised its holdings in Uniti Group by 1.3% in the second quarter. BlackRock Inc. now owns 35,380,931 shares of the real estate investment trust's stock worth $374,685,000 after purchasing an additional 455,658 shares during the period. State Street Corp raised its holdings in Uniti Group by 5.3% in the second quarter. State Street Corp now owns 6,990,537 shares of the real estate investment trust's stock worth $75,064,000 after purchasing an additional 351,034 shares during the period. FMR LLC raised its holdings in Uniti Group by 31.7% in the second quarter. FMR LLC now owns 4,913,772 shares of the real estate investment trust's stock worth $52,036,000 after purchasing an additional 1,183,148 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Uniti Group by 4.2% in the second quarter. Geode Capital Management LLC now owns 4,325,998 shares of the real estate investment trust's stock worth $45,812,000 after purchasing an additional 175,205 shares during the period. Institutional investors and hedge funds own 81.91% of the company's stock.
Shares of NASDAQ UNIT opened at $11.87 on Thursday. The company's 50 day simple moving average is $12.75 and its 200 day simple moving average is $11.55. Uniti Group has a fifty-two week low of $8.70 and a fifty-two week high of $13.45. The firm has a market capitalization of $2.77 billion, a P/E ratio of 593.50 and a beta of 0.92.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 1st. Investors of record on Friday, September 17th were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, September 16th. This represents a $0.60 annualized dividend and a yield of 5.05%. Uniti Group's dividend payout ratio is currently 34.88%.
About Uniti Group
Uniti Group, Inc is a real estate investment trust company, which is engaged in the acquisition and construction of mission infrastructure in the communications industry. It operates through the following business segments: Leasing, Fiber Infrastructure, Towers, Consumer CLEC, and Corporate. The Leasing segment represents the real estate investment trust operations of the company and includes the results from leasing business, Uniti leasing, which engages in the acquisition of mission-critical communications assets and leasing them to anchor customers on either and exclusive or shared-tenant basis.
Featured Article: Why is momentum important to successful trading?
Get a free copy of the Zacks research report on Uniti Group (UNIT)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Uniti Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Uniti Group wasn't on the list.
While Uniti Group currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here