Wall Street analysts expect Unit Co. (NYSE:UNT) to post $207.36 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Unit’s earnings. The highest sales estimate is $209.71 million and the lowest is $205.00 million. Unit reported sales of $175.72 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 18%. The company is expected to issue its next quarterly earnings results on Thursday, May 3rd.
According to Zacks, analysts expect that Unit will report full year sales of $207.36 million for the current financial year, with estimates ranging from $847.00 million to $877.68 million. For the next financial year, analysts anticipate that the firm will post sales of $936.92 million per share, with estimates ranging from $915.00 million to $958.84 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Unit.
Unit (NYSE:UNT) last released its quarterly earnings data on Thursday, February 22nd. The oil and gas company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. Unit had a net margin of 15.93% and a return on equity of 2.19%. The business had revenue of $204.85 million during the quarter, compared to the consensus estimate of $199.77 million. During the same quarter in the prior year, the firm earned $0.23 EPS. The business’s revenue was up 17.5% on a year-over-year basis.
Shares of UNT traded down $0.58 during midday trading on Monday, hitting $19.24. 340,285 shares of the company traded hands, compared to its average volume of 653,141. Unit has a 52 week low of $15.29 and a 52 week high of $26.82. The company has a market capitalization of $1,051.69, a PE ratio of 35.63 and a beta of 2.93. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.61.
Several large investors have recently made changes to their positions in UNT. MetLife Investment Advisors LLC bought a new stake in Unit in the fourth quarter worth about $542,000. Municipal Employees Retirement System of Michigan lifted its stake in Unit by 23.7% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 24,520 shares of the oil and gas company’s stock worth $539,000 after purchasing an additional 4,700 shares during the last quarter. Millennium Management LLC lifted its stake in Unit by 20.4% in the fourth quarter. Millennium Management LLC now owns 36,403 shares of the oil and gas company’s stock worth $801,000 after purchasing an additional 6,180 shares during the last quarter. Cornerstone Capital Management Holdings LLC. bought a new stake in Unit in the fourth quarter worth about $310,000. Finally, Two Sigma Investments LP lifted its stake in Unit by 111.7% in the fourth quarter. Two Sigma Investments LP now owns 85,331 shares of the oil and gas company’s stock worth $1,877,000 after purchasing an additional 45,014 shares during the last quarter. 94.73% of the stock is owned by hedge funds and other institutional investors.
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Unit Corporation, together with its subsidiaries, operates as an oil and natural gas contract drilling company in the United States. The company operates through three segments: Oil and Natural Gas, Contract Drilling, and Mid-Stream. The Oil and Natural Gas segment acquires, explores, develops, and produces oil and natural gas properties, principally located in Oklahoma and Texas, as well as in Arkansas, Colorado, Kansas, Louisiana, Mississippi, Montana, New Mexico, North Dakota, Utah, and Wyoming.
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