Unit (UNT) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Unit (NYSE:UNT) announced its earnings results on Thursday. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.07, Bloomberg Earnings reports. The company had revenue of $203.30 million for the quarter, compared to analysts’ expectations of $202.88 million. Unit had a return on equity of 2.40% and a net margin of 14.27%. Unit’s quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.07 earnings per share.

Shares of Unit traded up $0.68, hitting $26.03, during mid-day trading on Friday, MarketBeat Ratings reports. 371,100 shares of the company traded hands, compared to its average volume of 465,902. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 47.85 and a beta of 2.87. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.58. Unit has a 12-month low of $15.29 and a 12-month high of $28.68.

UNT has been the topic of several analyst reports. SunTrust Banks reaffirmed a “hold” rating and set a $26.00 target price on shares of Unit in a research report on Friday. Cowen set a $30.00 target price on Unit and gave the company a “hold” rating in a research report on Thursday, July 19th. Zacks Investment Research cut Unit from a “hold” rating to a “strong sell” rating in a research report on Friday, April 13th. Finally, ValuEngine raised Unit from a “hold” rating to a “buy” rating in a research report on Thursday, June 21st. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $25.00.

About Unit

Unit Corporation, together with its subsidiaries, operates as an oil and natural gas contract drilling company in the United States. The company operates through three segments: Oil and Natural Gas, Contract Drilling, and Mid-Stream. The Oil and Natural Gas segment acquires, explores, develops, and produces oil and natural gas properties, principally located in Oklahoma and Texas, as well as in Arkansas, Colorado, Kansas, Louisiana, Mississippi, Montana, New Mexico, North Dakota, Utah, and Wyoming.

Further Reading: Leveraged Buyout (LBO) Explained

Earnings History for Unit (NYSE:UNT)

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