Zacks: Analysts Expect Uniti Group Inc (UNIT) to Post $0.48 Earnings Per Share

Equities research analysts expect Uniti Group Inc (NASDAQ:UNIT) to post $0.48 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Uniti Group’s earnings, with estimates ranging from ($0.01) to $0.65. Uniti Group reported earnings per share of $0.54 in the same quarter last year, which would indicate a negative year-over-year growth rate of 11.1%. The firm is expected to report its next quarterly earnings results after the market closes on Thursday, March 1st.

On average, analysts expect that Uniti Group will report full year earnings of $2.51 per share for the current year, with EPS estimates ranging from $2.50 to $2.53. For the next financial year, analysts anticipate that the company will post earnings of $2.64 per share, with EPS estimates ranging from $2.58 to $2.73. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Uniti Group.

UNIT has been the topic of several recent analyst reports. Royal Bank of Canada reaffirmed a “buy” rating and set a $32.00 price target on shares of Uniti Group in a research report on Monday, September 18th. Citigroup cut Uniti Group from a “buy” rating to a “neutral” rating in a report on Tuesday, September 26th. JPMorgan Chase & Co. cut Uniti Group from an “overweight” rating to a “neutral” rating in a report on Monday, October 2nd. ValuEngine raised Uniti Group from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Zacks Investment Research cut Uniti Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $26.14.

Several institutional investors have recently bought and sold shares of UNIT. Fort Washington Investment Advisors Inc. OH raised its holdings in shares of Uniti Group by 86.5% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 37,949 shares of the real estate investment trust’s stock worth $954,000 after buying an additional 17,600 shares in the last quarter. Advisory Services Network LLC grew its holdings in Uniti Group by 2.3% during the second quarter. Advisory Services Network LLC now owns 45,920 shares of the real estate investment trust’s stock valued at $1,154,000 after purchasing an additional 1,047 shares during the period. Crossmark Global Holdings Inc. bought a new position in shares of Uniti Group in the third quarter worth $316,000. Gamco Investors INC. ET AL boosted its holdings in shares of Uniti Group by 636.3% in the third quarter. Gamco Investors INC. ET AL now owns 67,000 shares of the real estate investment trust’s stock worth $982,000 after acquiring an additional 57,900 shares during the period. Finally, Gabelli Funds LLC boosted its holdings in shares of Uniti Group by 188.9% in the third quarter. Gabelli Funds LLC now owns 156,000 shares of the real estate investment trust’s stock worth $2,287,000 after acquiring an additional 102,000 shares during the period. 70.01% of the stock is owned by institutional investors.

Uniti Group (NASDAQ:UNIT) traded down $0.31 during trading hours on Friday, hitting $16.38. The company’s stock had a trading volume of 1,544,347 shares, compared to its average volume of 2,470,000. The firm has a market cap of $2,870.00 and a price-to-earnings ratio of -60.67. Uniti Group has a 52-week low of $13.81 and a 52-week high of $29.65. The company has a debt-to-equity ratio of -0.05, a current ratio of 0.03 and a quick ratio of 0.03.

The firm also recently declared a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Friday, December 29th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 14.65%. Uniti Group’s dividend payout ratio (DPR) is currently -888.89%.

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Uniti Group Company Profile

Uniti Group Inc, formerly Communications Sales & Leasing, Inc, is an internally managed real estate investment trust engaged in the acquisition and construction of infrastructure in the communications industry. The Company focuses on acquiring and constructing fiber optic broadband networks, wireless communications towers, copper and coaxial broadband networks and data centers.

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