$272.96 Million in Sales Expected for Uniti Group Inc (NASDAQ:UNIT) This Quarter

Wall Street analysts predict that Uniti Group Inc (NASDAQ:UNIT) will announce sales of $272.96 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Uniti Group’s earnings, with the lowest sales estimate coming in at $272.92 million and the highest estimate coming in at $273.00 million. Uniti Group posted sales of $270.75 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 0.8%. The firm is scheduled to report its next earnings results on Wednesday, March 18th.

On average, analysts expect that Uniti Group will report full year sales of $1.06 billion for the current fiscal year. For the next financial year, analysts expect that the firm will report sales of $1.04 billion, with estimates ranging from $926.20 million to $1.10 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Uniti Group.

A number of brokerages have commented on UNIT. BidaskClub raised Uniti Group from a “hold” rating to a “buy” rating in a report on Friday. ValuEngine raised Uniti Group from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Finally, Zacks Investment Research raised Uniti Group from a “sell” rating to a “hold” rating in a report on Saturday, January 11th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $11.96.

Shares of UNIT opened at $8.75 on Tuesday. The stock has a 50 day moving average price of $7.52 and a two-hundred day moving average price of $7.55. The firm has a market capitalization of $1.71 billion, a P/E ratio of 54.69, a P/E/G ratio of 1.18 and a beta of 1.13. Uniti Group has a 52 week low of $5.24 and a 52 week high of $20.00.

Several hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp bought a new position in shares of Uniti Group in the fourth quarter valued at approximately $86,000. Meeder Asset Management Inc. grew its holdings in shares of Uniti Group by 2,168.8% in the fourth quarter. Meeder Asset Management Inc. now owns 5,445 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 5,205 shares in the last quarter. Amalgamated Bank grew its holdings in shares of Uniti Group by 4.7% in the fourth quarter. Amalgamated Bank now owns 36,150 shares of the real estate investment trust’s stock valued at $297,000 after acquiring an additional 1,619 shares in the last quarter. Pinebridge Investments L.P. bought a new position in shares of Uniti Group in the fourth quarter valued at approximately $852,000. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Uniti Group by 927.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 515,033 shares of the real estate investment trust’s stock valued at $4,229,000 after acquiring an additional 464,886 shares in the last quarter. 81.48% of the stock is owned by institutional investors.

About Uniti Group

Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of wireless infrastructure solutions for the communications industry. As of December 31, 2018, Uniti owns 5.5 million fiber strand miles, approximately 928 wireless towers, and other communications real estate throughout the United States and Latin America.

Further Reading: What are the benefits of a portfolio tracker?

Get a free copy of the Zacks research report on Uniti Group (UNIT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Uniti Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Uniti Group and related companies with MarketBeat.com's FREE daily email newsletter.