Uniti Group (NASDAQ:UNIT) Raised to "Hold" at Zacks Research

Key Points

• Uniti Group has been upgraded from a "strong sell" to a "hold" by Zacks Research, highlighting a potential improvement in investor outlook.
• Wells Fargo raised the price target for Uniti Group from $4.50 to $7.50, while the stock has a consensus rating of "Hold" and an average target price of $6.56.
• For the last quarter, Uniti Group reported earnings per share of $0.36, falling short of the consensus estimate and reflecting challenges in meeting revenue expectations.

Uniti Group (NASDAQ:UNIT - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Thursday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company upped their price objective on shares of Uniti Group from $4.50 to $7.50 and gave the stock an "equal weight" rating in a report on Thursday, August 7th. Weiss Ratings restated a "sell (d)" rating on shares of Uniti Group in a report on Wednesday. Wall Street Zen cut shares of Uniti Group from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, Barclays began coverage on shares of Uniti Group in a report on Friday, October 3rd. They issued an "equal weight" rating and a $6.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $6.56.

Uniti Group Price Performance

Shares of NASDAQ UNIT opened at $5.73 on Thursday. Uniti Group has a 1 year low of $5.63 and a 1 year high of $12.62. The company's 50-day moving average is $6.47 and its 200 day moving average is $5.25. The stock has a market capitalization of $847.93 million, a P/E ratio of 20.83 and a beta of 1.56.

Uniti Group (NASDAQ:UNIT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.06). Uniti Group had a net margin of 2.96% and a negative return on equity of 1.43%. The company had revenue of $300.73 million for the quarter, compared to analysts' expectations of $304.06 million. During the same quarter in the prior year, the firm earned $0.34 EPS. Uniti Group's quarterly revenue was up 2.0% compared to the same quarter last year. Uniti Group has set its FY 2025 guidance at EPS. Research analysts anticipate that Uniti Group will post 1.28 earnings per share for the current year.

Institutional Investors Weigh In On Uniti Group

A number of institutional investors have recently made changes to their positions in UNIT. KBC Group NV purchased a new stake in shares of Uniti Group during the first quarter valued at approximately $28,000. Allworth Financial LP lifted its position in Uniti Group by 775.7% during the second quarter. Allworth Financial LP now owns 7,811 shares of the real estate investment trust's stock valued at $34,000 after purchasing an additional 6,919 shares during the period. Park Avenue Securities LLC bought a new position in Uniti Group during the second quarter valued at approximately $45,000. Osaic Holdings Inc. lifted its position in Uniti Group by 20.6% during the second quarter. Osaic Holdings Inc. now owns 10,511 shares of the real estate investment trust's stock valued at $46,000 after purchasing an additional 1,795 shares during the period. Finally, American Century Companies Inc. bought a new position in Uniti Group during the first quarter valued at approximately $65,000. Hedge funds and other institutional investors own 87.51% of the company's stock.

About Uniti Group

Uniti Group, Inc is a real estate investment trust company, which engages in the acquisition, construction, and leasing of properties. It operates through the following business segments: Uniti Leasing, Uniti Fiber, and Corporate. The Uniti Leasing segment involves mission-critical communications assets on exclusive or shared-tenant basis, and dark fiber network.

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 contact@marketbeat.com.