In the last trading session, 1.01 million Uniti Group Inc (NASDAQ:UNIT) shares changed hands as the company’s beta touched 1.46. With the company’s per share price at $5.46 changed hands at $0.06 or 1.11% during last session, the market valuation stood at $1.30B. UNIT’s last price was a discount, traded about -42.86% off its 52-week high of $7.80. The share price had its 52-week low at $2.94, which suggests the last value was 46.15% up since then. When we look at Uniti Group Inc’s average trading volume, we note the 10-day average is 1.76 million shares, with the 3-month average coming to 1.94 million.
Analysts gave the Uniti Group Inc (UNIT) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.73. If we narrow down to specifics, the data shows that 1 out of 11 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 6 recommended UNIT as a Hold, 3 felt it is a Buy and 1 rated the stock as Underweight. Uniti Group Inc’s EPS for the current quarter is expected to be $0.1.
Uniti Group Inc (NASDAQ:UNIT) trade information
Instantly UNIT was in green as seen at the end of in last trading. With action 20.00%, the performance over the past five days has been green. The jump to weekly highs of 5.46 on Monday, 11/20/23 added 1.11% to the stock’s daily price. The company’s shares are showing year-to-date downside of -1.27%, with the 5-day performance at 20.00% in the green. However, in the 30-day time frame, Uniti Group Inc (NASDAQ:UNIT) is 26.98% up. Looking at the short shares, we see there were 20.78 million shares sold at short interest cover period of 14.2 days.
The consensus price target for the stock as assigned by Wall Street analysts is $5.95, meaning bulls need an upside of 8.24% from its current market value. According to analyst projections, UNIT’s forecast low is $3.00 with $10.00 as the target high. To hit the forecast high, the stock’s price needs a -83.15% plunge from its current level, while the stock would need to tank 45.05% for it to hit the projected low.
Uniti Group Inc (UNIT) estimates and forecasts
Data shows that the Uniti Group Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 39.64% over the past 6 months, a -18.29% in annual growth rate that is considerably lower than the industry average of -6.10%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Uniti Group Inc will fall -56.50%, while the growth in revenue is estimated to hit 237.50% for the next quarter. Year-over-year growth is forecast to reach 2.90% up from the last financial year.
Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of $297.4 million. 5 analysts are of the opinion that Uniti Group Inc’s revenue for the quarter ending Mar 2024 will be $295.15 million. The company’s revenue for the corresponding quarters a year ago was $283.74 million and $286.47 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 4.80%. The estimates for the next quarter sales put growth at 3.00%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 21.00%. The 2023 estimates are for Uniti Group Inc earnings to decrease by -205.21%, but the outlook for the next 5-year period is at 17.40% per year.
Uniti Group Inc is expected to release its next quarterly earnings report on November 02. The 10.99% annual yield figure for the share gives it an annual dividend of 0.60. It is important to note, however, that the 10.99% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Uniti Group Inc (NASDAQ:UNIT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.14% of Uniti Group Inc shares while 90.57% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 91.61%. There are 90.57% institutions holding the Uniti Group Inc stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 16.49% of the shares, roughly 39.36 million UNIT shares worth $181.86 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 15.95% or 38.08 million shares worth $175.91 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Sep 29, 2023 were iShares Core S&P Smallcap ETF and Vanguard Specialized-Real Estate Index Fund. With 16.15 million shares estimated at $76.24 million under it, the former controlled 6.77% of total outstanding shares. On the other hand, Vanguard Specialized-Real Estate Index Fund held about 4.21% of the shares, roughly 10.05 million shares worth around $56.07 million.