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What Will Uniti Group Inc. (NASDAQ: UNIT) Be Like After It Drops -238.44% From Its Highs?

During the last session, Uniti Group Inc. (NASDAQ:UNIT)’s traded shares were 2.87 million, with the beta value of the company hitting 1.30. At the end of the trading day, the stock’s price was $3.46, reflecting an intraday loss of -0.57% or -$0.02. The 52-week high for the UNIT share is $11.71, that puts it down -238.44 from that peak though still a striking 15.03% gain since the share price plummeted to a 52-week low of $2.94. The company’s market capitalization is $834.41M, and the average intraday trading volume over the past 10 days was 2.62 million shares, and the average trade volume was 3.64 million shares over the past three months.

Uniti Group Inc. (UNIT) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 2.80. UNIT has a Sell rating from 1 analyst(s) out of 11 analysts who have looked at this stock. 7 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 3 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.12.

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Uniti Group Inc. (NASDAQ:UNIT) trade information

Uniti Group Inc. (UNIT) registered a -0.57% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -0.57% in intraday trading to $3.46 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is -7.49%, and it has moved by 16.89% in 30 days. Based on these gigs, the overall price performance for the year is -67.87%. The short interest in Uniti Group Inc. (NASDAQ:UNIT) is 19.35 million shares and it means that shorts have 6.24 day(s) to cover.

The consensus price target of analysts on Wall Street is $6.10, which implies an increase of 43.28% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $3.00 and $10.00 respectively. As a result, UNIT is trading at a discount of -189.02% off the target high and 13.29% off the low.

Uniti Group Inc. (UNIT) estimates and forecasts

Statistics show that Uniti Group Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Uniti Group Inc. (UNIT) shares have gone down -53.05% during the last six months, with a year-to-date growth rate less than the industry average at -20.57% against -5.70. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -42.90% this quarter and then jump 118.20% in the quarter after that. In the rating firms’ projections, revenue will increase 3.10% compared to the previous financial year.

Revenue for the current quarter is expected to be $290.38 million as predicted by 8 analyst(s). Meanwhile, a consensus of 8 analyst(s) estimates revenue growth to $291.5 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $283.98 million and $283.21 million respectively. In this case, analysts expect current quarter sales to grow by 2.30% and then jump by 2.90% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 27.40%. While earnings are projected to return -108.60% in 2023, the next five years will return 17.40% per annum.

UNIT Dividends

Uniti Group Inc. is due to release its next quarterly earnings between August 02 and August 07. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Uniti Group Inc. is 0.60, with the dividend yield indicating at 17.34 percent, continuing the trend of increasing dividends in recent years.

Uniti Group Inc. (NASDAQ:UNIT)’s Major holders

Uniti Group Inc. insiders own 1.13% of total outstanding shares while institutional holders control 88.69%, with the float percentage being 89.71%. Blackrock Inc. is the largest shareholder of the company, while 407 institutions own stock in it. As of Mar 30, 2023, the company held over 39.05 million shares (or 16.37% of all shares), a total value of $138.63 million in shares.

The next largest institutional holding, with 38.45 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 16.12% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $136.49 million.

Also, the Mutual Funds coming in first place with the largest holdings of Uniti Group Inc. (UNIT) shares are iShares Core S&P Smallcap ETF and Vanguard Specialized-Real Estate Index Fund. Data provided on Feb 27, 2023 indicates that iShares Core S&P Smallcap ETF owns about 18.05 million shares. This amounts to just over 7.57 percent of the company’s overall shares, with a $99.11 million market value. The same data shows that the other fund manager holds slightly less at 10.58 million, or about 4.44% of the stock, which is worth about $69.75 million.

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