Brokerages Anticipate Uniti Group Inc. (NASDAQ:UNIT) Will Announce Quarterly Sales of $271.16 Million

Brokerages expect Uniti Group Inc. (NASDAQ:UNIT) to announce sales of $271.16 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Uniti Group’s earnings, with the highest sales estimate coming in at $271.21 million and the lowest estimate coming in at $271.10 million. Uniti Group reported sales of $258.77 million in the same quarter last year, which indicates a positive year over year growth rate of 4.8%. The firm is expected to report its next earnings report before the market opens on Thursday, November 4th.

On average, analysts expect that Uniti Group will report full-year sales of $1.09 billion for the current financial year. For the next financial year, analysts forecast that the firm will post sales of $1.13 billion, with estimates ranging from $1.12 billion to $1.15 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Uniti Group.

Uniti Group (NASDAQ:UNIT) last announced its earnings results on Thursday, August 5th. The real estate investment trust reported $0.20 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.19). Uniti Group had a negative return on equity of 0.20% and a net margin of 0.39%.

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Uniti Group by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 40,290,881 shares of the real estate investment trust’s stock worth $426,680,000 after purchasing an additional 813,244 shares in the last quarter. BlackRock Inc. raised its stake in Uniti Group by 1.3% in the 2nd quarter. BlackRock Inc. now owns 35,380,931 shares of the real estate investment trust’s stock worth $374,685,000 after purchasing an additional 455,658 shares in the last quarter. State Street Corp raised its stake in Uniti Group by 5.3% in the 2nd quarter. State Street Corp now owns 6,990,537 shares of the real estate investment trust’s stock worth $75,064,000 after purchasing an additional 351,034 shares in the last quarter. FMR LLC raised its stake in Uniti Group by 31.7% in the 2nd quarter. FMR LLC now owns 4,913,772 shares of the real estate investment trust’s stock worth $52,036,000 after purchasing an additional 1,183,148 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Uniti Group by 4.2% in the 2nd quarter. Geode Capital Management LLC now owns 4,325,998 shares of the real estate investment trust’s stock worth $45,812,000 after purchasing an additional 175,205 shares in the last quarter. 81.91% of the stock is owned by institutional investors and hedge funds.

Shares of UNIT stock opened at $11.87 on Thursday. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 593.50 and a beta of 0.92. The company has a 50-day simple moving average of $12.75 and a 200 day simple moving average of $11.55. Uniti Group has a 52 week low of $8.70 and a 52 week high of $13.45.

The business also recently announced a quarterly dividend, which was paid on Friday, October 1st. Investors of record on Friday, September 17th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 5.05%. The ex-dividend date was Thursday, September 16th. Uniti Group’s payout ratio is 34.88%.

Uniti Group Company Profile

Uniti Group, Inc is a real estate investment trust company, which is engaged in the acquisition and construction of mission infrastructure in the communications industry. It operates through the following business segments: Leasing, Fiber Infrastructure, Towers, Consumer CLEC, and Corporate. The Leasing segment represents the real estate investment trust operations of the company and includes the results from leasing business, Uniti leasing, which engages in the acquisition of mission-critical communications assets and leasing them to anchor customers on either and exclusive or shared-tenant basis.

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