The stock is lingering around the initial support level of $8.21. After this, the following support is at the zone of $8.06. Up until the time the UNIT stock hit levels beyond the current one, bulls should have no alarm. In terms of its momentum, the stock’s RSI hit 51.58 on the daily chart, and this may be a cause for concern. In case the price goes below $8.06 level on closing basis, there may be more profit booking with the stock growing weaker. Still, getting to the $8.57 level may cause a pull-back move approaching $8.78 mark.
Let’s take a glimpse at some insider activity at Uniti Group Inc. (NASDAQ:UNIT) and observe the pattern. The earliest insider trade happened on 08/23/2017. SOLOMON DAVID L gathered a total of 1.3 thousand shares of the firm at average share price of $19.1. The total amount for the purchase was set at $24.83 thousand. On completing this exchange, the Director account balance was 20.14 thousand shares. The stock lost -58.12 percent from that insider purchase. On 08/21/2017, Gunderman Kenny, President and CEO, did a purchase of 4 thousand shares at a price of $18.88 per share. This increased 75.52 thousand shares to the insider’s fortune and the stock experienced a -57.63 percent retreat in price since the news became public. This exchange saw 272.55 thousand shares get into the President and CEO account. On 08/18/2017, Principal Accounting Officer Schuhmacher Blake recorded a purchase transaction valued at $9.49 thousand. The purchase at $18.98 a share has added 0.5 thousand shares into the insider’s portfolio position. Meanwhile, shares price witnessed -57.85 percent decrease since the transaction reporting date. The company insider is left with 16.67 thousand shares remaining in the account. Gunderman Kenny, who works as President and CEO at the company, performed a purchase of 2 thousand shares in a transaction worth $38.46 thousand. The acquisition recorded on 08/17/2017 was priced at $19.23 per share. The stock price plunged -58.4 percent since the transaction. Gunderman Kenny currently holds a stake of 268.55 thousand in UNIT stock which is worth $2.15 million after the insider buying.
In the recent trading session, Uniti Group Inc. (NASDAQ:UNIT) shares lost -4.42% or -0.37 points to reach at $8 with a thin trading volume of 1.059 million shares. It opened the trading session at $8.26, the shares rose to $8.62 and dropped to $8.26, the range by which the price of stock traded the whole session. The company now has a market cap of $1.6 billion and currently has 191.57 million outstanding shares. Uniti Group Inc. (UNIT) stock has accumulated 14.58 percent of market value in 21 trading days.
Stock analysts at Wells Fargo cut their rating on shares of Uniti Group Inc. (NASDAQ:UNIT) from Market Perform to a new rating of Underperform in their opinion released on March 05. RBC Capital Mkts analysts have downgraded their rating of UNIT shares from Outperform to Sector Perform in a separate flash note to investors on February 20. Analysts at Raymond James downgraded the company stock to a Mkt Perform call from its previous Strong Buy stance, in a flash note that dated back to February 19.
UNIT stock’s trailing 3-year beta is 1.17, meaning there will be a greater rate of return, although posing a higher risk. The part of a firm’s profit given to each outstanding share of regular stock was $0.17 share in the trailing 52 weeks. The stock’s value surged 1.95 percent year to date (YTD) compared to a decline of -54.68 percent in 52 week’s period. The firm’s shares are still trading -60.28 percent below its 1-year high of $20.14 and 52.67 percent up from 52-week low of $5.24. The average consensus ranking on the company is 3.6, on a ranging where 5 is equal to a consensus sell rating. In other words, the mean analyst recommendations are ranking this stock as a hold.
Uniti Group Inc. (UNIT) shares are trading at a P/E ratio of 45.63 times earnings posted in the trailing 12 months. The industry UNIT deals with has an average P/E of 63.7. Its P/B ratio is standing at -0.9X compared to the 6.32 industry average. It is additionally sporting a 1.41 on the Price-to-Sales ratio, compared to the industry’s P/S average of 1.29.
Past records have indicated that shares in Uniti Group Inc. rose on 8 different earnings reaction days and we have yet to see whether this trend will play out and remain in place when the company reports upcoming earnings. Investors will get the next hint of UNIT’s Q4 earnings on February 27. Analysts are predicting revenue to climb 0.9 percent to $273M in the financial fourth quarter, while EPS will soar by about -66.67 percent to $0.02 per share. In the last quarter, it’s earnings of $0.49 per share came worse than the $0.554, adjusted, expected by Thomson Reuters consensus estimate. Revenue for the quarter was $263.63M, missing the $270.85M analysts had expected. Earnings are seen to rise by 122.7 percent this year, -200 percent in the coming year and the trend continues by 6.3 percent every year in the next 5 years.