Uniti Group Inc. (NASDAQ:UNIT – Get Free Report) has been given an average recommendation of “Hold” by the nine research firms that are presently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $10.9167.
Several equities research analysts have recently issued reports on UNIT shares. JPMorgan Chase & Co. raised their price objective on Uniti Group from $8.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Wall Street Zen cut Uniti Group from a “hold” rating to a “sell” rating in a report on Sunday, March 1st. Williams Trading set a $12.00 price objective on Uniti Group in a report on Tuesday, May 12th. Barclays raised their price objective on Uniti Group from $8.00 to $11.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 15th. Finally, Zacks Research upgraded Uniti Group from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd.
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Uniti Group Stock Down 1.2%
UNIT stock opened at $10.67 on Wednesday. Uniti Group has a 52-week low of $5.30 and a 52-week high of $12.39. The stock’s fifty day simple moving average is $10.07 and its 200-day simple moving average is $8.21. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 3.19 and a beta of 1.44.
Uniti Group (NASDAQ:UNIT – Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The real estate investment trust reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.01. Uniti Group had a negative return on equity of 2.52% and a net margin of 39.61%.The business had revenue of $987.50 million for the quarter, compared to analysts’ expectations of $930.08 million. During the same quarter last year, the firm earned $0.35 earnings per share. The business’s revenue was up 236.0% on a year-over-year basis. As a group, analysts anticipate that Uniti Group will post -1.75 earnings per share for the current fiscal year.
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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