ValuEngine Upgrades Uniti Group (UNIT) to Hold

Uniti Group (NASDAQ:UNIT) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

Other equities research analysts have also issued reports about the stock. BidaskClub raised shares of Uniti Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 24th. Zacks Investment Research lowered shares of Uniti Group from a “hold” rating to a “sell” rating in a report on Wednesday, November 7th. Cowen set a $28.00 target price on shares of Uniti Group and gave the stock a “buy” rating in a report on Saturday, August 11th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $22.00 target price on shares of Uniti Group in a report on Friday, August 17th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $25.80.

Uniti Group stock opened at $19.93 on Friday. The company has a market capitalization of $3.55 billion, a P/E ratio of 7.94, a PEG ratio of 0.93 and a beta of 0.76. Uniti Group has a 12-month low of $13.94 and a 12-month high of $23.42.

Uniti Group (NASDAQ:UNIT) last released its earnings results on Thursday, November 1st. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.02). The firm had revenue of $252.60 million during the quarter, compared to analysts’ expectations of $253.97 million. Uniti Group had a negative return on equity of 1.33% and a net margin of 1.76%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.55 earnings per share. As a group, analysts predict that Uniti Group will post 2.45 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Angelo Gordon & CO. L.P. bought a new position in Uniti Group in the 2nd quarter worth approximately $34,003,000. Cornerstone Wealth Management LLC bought a new position in Uniti Group in the 2nd quarter worth approximately $629,000. First Trust Advisors LP bought a new position in Uniti Group in the 2nd quarter worth approximately $425,000. Mackay Shields LLC bought a new position in Uniti Group in the 2nd quarter worth approximately $12,237,000. Finally, Securian Asset Management Inc boosted its stake in Uniti Group by 5.7% in the 3rd quarter. Securian Asset Management Inc now owns 87,113 shares of the real estate investment trust’s stock worth $1,755,000 after purchasing an additional 4,686 shares during the period. Institutional investors and hedge funds own 70.47% of the company’s stock.

Uniti Group Company Profile

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 wireless infrastructure solutions for the communications industry. As of September 30, 2018, Uniti owns 5.4 million fiber strand miles, approximately 850 wireless towers, and other communications real estate throughout the United States and Latin America.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Uniti Group (NASDAQ:UNIT)

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