Uniti Group (NASDAQ:UNIT - Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 1.230-1.300 for the period, compared to the consensus earnings per share estimate of 1.350. The company issued revenue guidance of $1.2 billion-$1.2 billion, compared to the consensus revenue estimate of $1.2 billion.
Wall Street Analyst Weigh In
Separately, Royal Bank of Canada restated a "sector perform" rating and issued a $5.50 target price on shares of Uniti Group in a research report on Thursday, August 29th.
Check Out Our Latest Analysis on Uniti Group
Uniti Group Price Performance
Uniti Group stock traded down $0.52 during trading hours on Thursday, reaching $5.07. The company had a trading volume of 4,241,185 shares, compared to its average volume of 2,668,371. The company has a 50-day moving average price of $5.25 and a 200 day moving average price of $4.30. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 84.33 and a beta of 1.29. Uniti Group has a 12-month low of $2.57 and a 12-month high of $6.71.
Uniti Group (NASDAQ:UNIT - Get Free Report) last posted its earnings results 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 net margin of 0.79% and a negative return on equity of 0.37%. The business had revenue of $294.90 million for the quarter, compared to analysts' expectations of $289.97 million. During the same period last year, the firm posted $0.34 earnings per share. Uniti Group's quarterly revenue was up 3.9% on a year-over-year basis. As a group, research analysts expect that Uniti Group will post 1.31 earnings per share for the current year.
Insider Activity
In other news, SVP Ronald J. Mudry sold 28,693 shares of the business's stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $3.94, for a total transaction of $113,050.42. Following the transaction, the senior vice president now directly owns 513,761 shares of the company's stock, valued at approximately $2,024,218.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.39% of the company's stock.
About Uniti Group
(
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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.
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