Uniti Group (NASDAQ:UNIT) Sets New 52-Week Low - Here's Why

Key Points

• Uniti Group Inc. has reached a new 52-week low, falling to $5.63 during trading, with its last price at $5.73.
• Analysts have varying ratings on Uniti Group, with Wells Fargo increasing its target price to $7.50, while Weiss Ratings and Zacks have issued sell ratings.
• The company's quarterly earnings showed a miss in EPS, reporting $0.36 compared to the estimated $0.42, alongside a slight increase in revenue year-over-year.

Uniti Group Inc. (NASDAQ:UNIT - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $5.63 and last traded at $5.73, with a volume of 1949159 shares trading hands. The stock had previously closed at $6.04.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on UNIT shares. Wells Fargo & Company increased their target price on Uniti Group from $4.50 to $7.50 and gave the company an "equal weight" rating in a report on Thursday, August 7th. Weiss Ratings reissued a "sell (d)" rating on shares of Uniti Group in a report on Wednesday. Barclays assumed coverage on Uniti Group in a report on Friday, October 3rd. They issued an "equal weight" rating and a $6.00 target price on the stock. Wall Street Zen lowered Uniti Group from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, Zacks Research lowered Uniti Group from a "hold" rating to a "strong sell" rating in a report on Wednesday, September 10th. One analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $6.56.

Uniti Group Stock Down 5.1%

The stock has a fifty day moving average of $6.45 and a 200-day moving average of $5.24. The stock has a market cap of $847.93 million, a PE ratio of 20.83 and a beta of 1.56.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. KBC Group NV acquired a new stake in shares of Uniti Group during the 1st quarter worth $28,000. Allworth Financial LP boosted its position in Uniti Group by 775.7% in the 2nd quarter. Allworth Financial LP now owns 7,811 shares of the real estate investment trust's stock valued at $34,000 after buying an additional 6,919 shares during the last quarter. Park Avenue Securities LLC bought a new position in shares of Uniti Group during the second quarter worth about $45,000. Osaic Holdings Inc. lifted its position in shares of 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 worth $46,000 after purchasing an additional 1,795 shares during the last quarter. Finally, American Century Companies Inc. bought a new position in shares of Uniti Group during the first quarter worth about $65,000. 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 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.

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