In today’s recent session, 0.51 million shares of the Uniti Group Inc (NASDAQ:UNIT) have been traded, and its beta is 1.27. Most recently the company’s share price was $3.93, and it changed around $0.25 or 6.93% from the last close, which brings the market valuation of the company to $960.73M. UNIT at last check was trading at a discount to its 52-week high of $6.71, offering almost -70.74% off that amount. The share price’s 52-week low was $2.57, which indicates that the recent value has risen by an impressive 34.61% since then. We note from Uniti Group Inc’s average daily trading volume that its 10-day average is 3.05 million shares, with the 3-month average coming to 3.33 million.
Uniti Group Inc stock received a consensus recommendation rating of Buy, based on a mean score of 2.67. If we narrow it down even further, the data shows that 0 out of 11 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 4 recommended UNIT as a Hold, whereas 5 deemed it a Buy, and 0 rated it as Underweight. Uniti Group Inc is expected to report earnings per share of 0.11 for the current quarter.
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Uniti Group Inc (NASDAQ:UNIT) trade information
Instantly UNIT has been showing a green trend so far today with a performance of 6.93% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 4.13 on recent trading dayincreased the stock’s daily price by 4.84%. The company’s shares are currently down -31.92% year-to-date, but still up 6.35% over the last five days. On the other hand, Uniti Group Inc (NASDAQ:UNIT) is 29.87% up in the 30-day period. We can see from the shorts that 16.46 million shares have been sold at a short interest cover period of 4.67 day(s).
The consensus price target as assigned by Wall Street analysts is $7.12, which translates to bulls needing to increase their stock price by 44.8% from its current value. Analyst projections state that UNIT is forecast to be at a low of $7 and a high of $7.25.
Uniti Group Inc (UNIT) estimates and forecasts
Uniti Group Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -22.99 percent over the past six months and at a 0.70% annual growth rate that is well above the industry average of -2.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 132.40% in revenue this quarter, and will report a decrease of -7.70% in the next quarter. The year-over-year growth rate is expected to be 1.40%, up from the previous year.
Consensus estimates provided by 6 financial analysts predict the company will bring in an average of 291.7M in revenue for the current quarter. 6 analysts expect Uniti Group Inc to make 294.34M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 290.9M and 285.66M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 0.30%. Forecasts for the next quarter put sales growth at 3.00%.
Uniti Group Inc earnings are expected to increase by 227.75% in 2024, but the outlook is positive 17.40% per year for the next five years.
UNIT Dividends
Uniti Group Inc’s next quarterly earnings report is expected to be released on 2024-Oct-31. The annual dividend yield of the stock is 15.25 percent and its annual dividend per share was 0.60. It is important to note, however, that the 15.25% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 8.57 per year.
Uniti Group Inc (NASDAQ:UNIT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 2.48% of Uniti Group Inc shares, and 87.39% of them are in the hands of institutional investors. The stock currently has a share float of 89.62%. Uniti Group Inc stock is held by 417.0 institutions, with BLACKROCK INC. being the largest institutional investor. By 2024-03-31, it held 16.65% of the shares, which is about 39.36 million shares worth $232.23 million.
VANGUARD GROUP INC, with 16.2614% or 38.44 million shares worth $226.81 million as of 2024-03-31, holds the second largest percentage of outstanding shares.
iShares Core S&P Smallcap ETF and Vanguard Specialized-Real Estate Index Fund were the top two Mutual Funds as of Jun 30, 2024. The former held 15.57 shares worth $62.35 million, making up 6.38% of all outstanding shares. On the other hand, Vanguard Specialized-Real Estate Index Fund held roughly 9.74 shares worth around $39.02 million, which represents about 3.99% of the total shares outstanding.
