Unit Co. (UNT) Expected to Post Quarterly Sales of $223.11 Million

Wall Street brokerages predict that Unit Co. (NYSE:UNT) will announce $223.11 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Unit’s earnings. The highest sales estimate is $230.21 million and the lowest is $216.00 million. Unit posted sales of $205.13 million in the same quarter last year, which suggests a positive year-over-year growth rate of 8.8%. The firm is scheduled to report its next earnings report on Thursday, May 2nd.

According to Zacks, analysts expect that Unit will report full-year sales of $913.18 million for the current fiscal year, with estimates ranging from $850.00 million to $976.36 million. For the next year, analysts anticipate that the firm will report sales of $1.01 billion, with estimates ranging from $897.00 million to $1.12 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Unit.

Unit (NYSE:UNT) last announced its quarterly earnings results on Thursday, February 21st. The oil and gas company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.04). The firm had revenue of $214.80 million for the quarter, compared to analysts’ expectations of $213.99 million. Unit had a negative net margin of 5.37% and a positive return on equity of 3.31%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.22 EPS.

Several brokerages have recently commented on UNT. Zacks Investment Research lowered Unit from a “strong-buy” rating to a “hold” rating in a research note on Saturday, January 19th. ValuEngine lowered Unit from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 29th. Finally, Capital One Financial lowered Unit from an “overweight” rating to an “equal weight” rating in a research note on Thursday, December 20th. One investment analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $26.50.

In other Unit news, insider Robert Parks sold 30,000 shares of Unit stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $14.65, for a total value of $439,500.00. Following the transaction, the insider now owns 76,195 shares in the company, valued at $1,116,256.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.16% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of UNT. Meeder Asset Management Inc. grew its stake in Unit by 1,732.8% in the fourth quarter. Meeder Asset Management Inc. now owns 4,197 shares of the oil and gas company’s stock valued at $61,000 after purchasing an additional 3,968 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Unit by 1,200.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,875 shares of the oil and gas company’s stock valued at $70,000 after purchasing an additional 4,500 shares during the last quarter. CoreCommodity Management LLC purchased a new position in Unit in the fourth quarter valued at about $134,000. Rafferty Asset Management LLC purchased a new position in Unit in the fourth quarter valued at about $154,000. Finally, United Services Automobile Association grew its stake in Unit by 7.3% in the fourth quarter. United Services Automobile Association now owns 12,302 shares of the oil and gas company’s stock valued at $176,000 after purchasing an additional 838 shares during the last quarter. Institutional investors own 89.21% of the company’s stock.

Shares of Unit stock traded up $0.26 during trading on Thursday, hitting $15.50. 234,500 shares of the stock traded hands, compared to its average volume of 310,436. The firm has a market cap of $860.81 million, a P/E ratio of 15.50 and a beta of 2.74. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.40. Unit has a 52-week low of $13.19 and a 52-week high of $29.06.

Unit Company Profile

Unit Corporation, together with its subsidiaries, engages in the exploration, acquisition, development, and production of oil and natural gas properties in the United States. It operates through three segments: Oil and Natural Gas, Contract Drilling, and Mid-Stream. The Oil and Natural Gas segment explores for, acquires, develops, and produces oil and natural gas properties.

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Earnings History and Estimates for Unit (NYSE:UNT)

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