TD Cowen Issues Pessimistic Forecast for Uniti Group (NASDAQ:UNIT) Stock Price

Key Points

• TD Cowen lowered Uniti Group’s price target from $12 to $11 while maintaining a “buy” rating, implying approximately 13% upside from the stock’s $9.73 price.
• Analyst sentiment remains cautious: Uniti has an overall consensus rating of “Hold” and an average target price of $11.03, based on one Strong Buy, one Buy, and seven Hold ratings.
• Uniti’s latest quarterly results were mixed, with revenue of $909.7 million exceeding estimates but a loss of $0.68 per share missing consensus by $0.25; institutional investors own 87.51% of the stock.

Uniti Group (NASDAQ:UNIT - Get Free Report) had its price target reduced by equities researchers at TD Cowen from $12.00 to $11.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the real estate investment trust's stock. TD Cowen's target price would indicate a potential upside of 12.99% from the stock's current price.

A number of other equities research analysts have also weighed in on UNIT. Williams Trading set a $12.00 target price on shares of Uniti Group in a report on Tuesday, May 12th. Weiss Ratings upgraded shares of Uniti Group from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, May 22nd. Wells Fargo & Company boosted their price objective on shares of Uniti Group from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 12th. Barclays increased their price objective on Uniti Group from $11.00 to $13.00 and gave the company an "equal weight" rating in a report on Wednesday, July 1st. Finally, Zacks Research raised Uniti Group from a "strong sell" rating to a "hold" rating in a report on Friday, April 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $11.03.

Uniti Group Trading Up 4.8%

UNIT traded up $0.45 on Friday, reaching $9.73. The stock had a trading volume of 1,595,561 shares, compared to its average volume of 2,351,433. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 2.92 and a beta of 1.40. Uniti Group has a fifty-two week low of $5.30 and a fifty-two week high of $12.94. The firm has a 50-day moving average of $11.24 and a 200-day moving average of $9.88.

Uniti Group (NASDAQ:UNIT - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.25). The firm had revenue of $909.70 million during the quarter, compared to the consensus estimate of $884.82 million. Sell-side analysts anticipate that Uniti Group will post -1.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Uniti Group

Large investors have recently modified their holdings of the company. Hilton Head Capital Partners LLC bought a new position in Uniti Group during the fourth quarter worth $40,000. KBC Group NV bought a new stake in Uniti Group during the first quarter valued at $43,000. Osaic Holdings Inc. grew its holdings in Uniti Group by 20.6% during the 2nd quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust's stock worth $46,000 after acquiring an additional 1,795 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in shares of Uniti Group in the 4th quarter worth about $72,000. Finally, Cibc World Markets Corp bought a new position in shares of Uniti Group in the 4th quarter worth about $78,000. 87.51% of the stock is currently owned by institutional investors and hedge funds.

Uniti Group Company Profile

Uniti Group Inc is a real estate investment trust that owns, operates and acquires communications infrastructure assets across the United States. Established in September 2015 through a spin-off from Windstream Holdings, Uniti Group focuses on leasing fiber, small cell networks, cell towers and related infrastructure to service providers, wireless carriers and other enterprises requiring high-capacity connectivity. The company's assets are designed to support the growing data demands of residential, business and governmental customers, with an emphasis on long-term contractual lease arrangements.

Uniti's portfolio encompasses an extensive fiber network that spans metropolitan and rural markets, as well as a portfolio of wireless towers and small cell nodes that facilitate mobile network densification and help carriers deploy 5G services.

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