Uniti Group (UNIT) Set to Announce Earnings on Thursday

Uniti Group (NASDAQ:UNIT - Get Free Report) will issue its quarterly earnings data before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of $0.33 per share for the quarter. Uniti Group has set its FY 2024 guidance at 1.330-1.400 EPS.Parties that are interested in participating in the company's conference call can do so using this link.

Uniti Group (NASDAQ:UNIT - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.28). Uniti Group had a negative return on equity of 0.37% and a net margin of 0.79%. The firm had revenue of $294.90 million for the quarter, compared to the consensus estimate of $289.97 million. During the same quarter last year, the business earned $0.34 earnings per share. The business's revenue for the quarter was up 3.9% compared to the same quarter last year. On average, analysts expect Uniti Group to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Uniti Group Price Performance

UNIT traded down $0.07 during trading hours on Thursday, hitting $5.57. 1,594,374 shares of the stock were exchanged, compared to its average volume of 2,657,637. The stock has a 50-day simple moving average of $5.13 and a 200-day simple moving average of $4.31. Uniti Group has a 12 month low of $2.57 and a 12 month high of $6.71. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 94.00 and a beta of 1.29.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada restated a "sector perform" rating and set a $5.50 price objective on shares of Uniti Group in a research note on Thursday, August 29th.

Insider Buying and Selling

In other Uniti Group news, SVP Ronald J. Mudry sold 28,693 shares of the firm's stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $3.94, for a total value of $113,050.42. Following the sale, the senior vice president now directly owns 513,761 shares in the company, valued at approximately $2,024,218.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.39% of the stock is currently owned by company insiders.

Uniti Group Company Profile

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 fiber and other wireless solutions for the communications industry. As of December 31, 2023, Uniti owns approximately 140,000 fiber route miles, 8.5 million fiber strand miles, and other communications real estate throughout the United States.