Uniti Group (NASDAQ:UNIT - Get Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 1.270-1.340 for the period, compared to the consensus earnings per share estimate of 1.290. The company issued revenue guidance of $1.2 billion-$1.2 billion, compared to the consensus revenue estimate of $1.2 billion.
Uniti Group Stock Performance
Shares of UNIT stock traded down $1.59 on Friday, hitting $4.44. The company had a trading volume of 21,001,237 shares, compared to its average volume of 2,065,701. The firm has a market cap of $1.07 billion, a P/E ratio of -24.67 and a beta of 1.40. Uniti Group has a twelve month low of $3.22 and a twelve month high of $6.71. The stock's 50-day moving average is $5.90 and its two-hundred day moving average is $5.49.
Uniti Group Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were issued a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 13.51%. Uniti Group's dividend payout ratio is presently -333.33%.
Wall Street Analyst Weigh In
A number of analysts recently commented on UNIT shares. Royal Bank of Canada reiterated a sector perform rating and set a $5.50 price target on shares of Uniti Group in a report on Monday, March 25th. TD Cowen upped their price objective on shares of Uniti Group from $9.00 to $10.00 and gave the company an outperform rating in a report on Friday, March 1st.
Read Our Latest Research Report on Uniti Group
Uniti Group Company Profile
(
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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 fiber and other wireless solutions for the communications industry. As of December 31, 2023, Uniti owns approximately 140,000 fiber route miles, 8.5 million fiber strand miles, and other communications real estate throughout the United States.
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