Uniti Group (UNIT) to Release Earnings on Thursday

Uniti Group (NASDAQ:UNIT) will be issuing 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.Investors that are interested in participating in the company’s conference call can do so using this link.

Uniti Group (NASDAQ:UNIT) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.28). The firm had revenue of $294.90 million during the quarter, compared to analyst estimates of $289.97 million. Uniti Group had a net margin of 0.79% and a negative return on equity of 0.37%. Uniti Group’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 earnings per share. 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 Trading Down 0.7 %

NASDAQ UNIT opened at $5.45 on Tuesday. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 90.83 and a beta of 1.29. Uniti Group has a 1-year low of $2.57 and a 1-year high of $6.71. The company has a 50 day moving average of $5.19 and a 200-day moving average of $4.29.

Insider Activity at Uniti Group

In other Uniti Group news, SVP Ronald J. Mudry sold 28,693 shares of the company’s stock in a transaction 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 owns 513,761 shares of the company’s stock, valued at approximately $2,024,218.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.39% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada reissued a “sector perform” rating and issued a $5.50 price objective on shares of Uniti Group in a research note on Thursday, August 29th.

About Uniti Group

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.