Uniti Group (UNIT) to Release Quarterly Earnings on Friday

Uniti Group (NASDAQ:UNIT) will be issuing its quarterly earnings data before the market opens on Friday, May 3rd. Analysts expect the company to announce earnings of $0.34 per share for the quarter. Individual that wish to listen to the company’s earnings conference call can do so using this link.

Uniti Group Stock Performance

Shares of UNIT stock opened at $5.81 on Thursday. The firm’s 50-day moving average is $5.90 and its 200-day moving average is $5.49. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -32.28 and a beta of 1.40. Uniti Group has a 52-week low of $3.06 and a 52-week high of $6.71.

Uniti Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Thursday, March 28th were issued a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.33%. Uniti Group’s payout ratio is -333.31%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on UNIT shares. TD Cowen increased their price target on shares of Uniti Group from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Royal Bank of Canada reissued a “sector perform” rating and issued a $5.50 price target on shares of Uniti Group in a report on Monday, March 25th.

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 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.