Unite Group (LON:UTG) Stock Price Crosses Above 50-Day Moving Average - Here's What Happened

Key Points

• Unite Group shares rose above their 50-day moving average, reaching GBX 477 before closing at GBX 476.45 on heavy trading volume.
• Analysts maintain a generally positive outlook, with five Buy ratings and four Holds. The consensus rating is “Moderate Buy”, with an average price target of GBX 593.56.
• The company reported quarterly EPS of GBX 27.10, while analysts forecast full-year EPS of GBX 47.93; however, Unite Group reported a negative net margin and negative return on equity.

Shares of Unite Group PLC (LON:UTG - Get Free Report) passed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of GBX 473.76 and traded as high as GBX 477. Unite Group shares last traded at GBX 476.45, with a volume of 128,812,117 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on UTG shares. Deutsche Bank Aktiengesellschaft cut their target price on shares of Unite Group from GBX 640 to GBX 570 and set a "buy" rating on the stock in a research report on Thursday, October 8th. JPMorgan Chase & Co. lowered their price target on shares of Unite Group from GBX 690 to GBX 640 and set an "overweight" rating for the company in a research report on Wednesday, July 29th. Peel Hunt reissued a "hold" rating and set a GBX 555 price target on shares of Unite Group in a research note on Thursday, October 8th. Jefferies Financial Group restated a "hold" rating and issued a GBX 450 price objective on shares of Unite Group in a report on Monday. Finally, Berenberg Bank reaffirmed a "buy" rating and issued a GBX 668 price objective on shares of Unite Group in a research note on Thursday, October 8th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of GBX 593.56.

Unite Group Stock Down 0.7%

The firm has a market cap of £2.42 billion, a P/E ratio of -4.81, a price-to-earnings-growth ratio of 3.20 and a beta of 0.94. The firm's 50 day moving average is GBX 473.76 and its two-hundred day moving average is GBX 505.37. The company has a current ratio of 23.17, a quick ratio of 0.73 and a debt-to-equity ratio of 46.65.

Unite Group (LON:UTG - Get Free Report) last issued its earnings results on Tuesday, July 28th. The company reported GBX 27.10 EPS for the quarter. Unite Group had a negative net margin of 143.81% and a negative return on equity of 10.94%. As a group, research analysts anticipate that Unite Group PLC will post 47.93 EPS for the current fiscal year.

About Unite Group

Unite Students is the UK's largest owner, manager and developer of purpose-built student accommodation, serving the country's world-leading Higher Education sector. We provide homes to 70,000 students across 157 properties in 23 leading university towns and cities. We currently partner with over 60 universities across the UK. Our people are driven by a common purpose: to provide a 'Home for Success' for the students who live with us. Unite's accommodation is safe and secure, high quality and affordable.

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