Unit (UNT) Issues Earnings Results
Unit (NYSE:UNT) released its earnings results on Thursday. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.07, Bloomberg Earnings reports. The firm had revenue of $203.30 million for the quarter, compared to analyst estimates of $202.88 million. Unit had a return on equity of 2.40% and a net margin of 14.27%. The company’s revenue was up 19.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.07 EPS.
UNT opened at $26.03 on Friday. Unit has a 12-month low of $15.29 and a 12-month high of $28.68. The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 39.42 and a beta of 2.87. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.58.
A number of analysts have issued reports on the company. ValuEngine lowered Unit from a “hold” rating to a “sell” rating in a report on Thursday, May 3rd. Zacks Investment Research raised Unit from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 20th. Cowen set a $30.00 target price on Unit and gave the company a “hold” rating in a report on Thursday, July 19th. Finally, SunTrust Banks reaffirmed a “hold” rating and issued a $26.00 target price on shares of Unit in a report on Friday. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $25.00.
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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