Uniti Group (UNIT - Free Report) shares ended the last trading session 10.7% higher at $14.40. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.3% gain over the past four weeks.
This increased investor optimism can be attributed to the news of a group including Zayo Group LLC looking for acquisition of Uniti Group and its key client Windstream Holdings II LLC.
This real estate investment trust is expected to post quarterly funds from operations (FFO) of $0.37 per share in its upcoming report, which represents a year-over-year change of -11.9%. Revenues are expected to be $271.16 million, up 4.8% from the year-ago quarter.
While FFO and revenue growth expectations certainly give a good sense of the potential strength in a stock, empirical research shows that trends in FFO estimate revisions are strongly correlated with near-term stock price movements.
For Uniti, the consensus FFO per share estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in FFO estimate revisions. So, make sure to keep an eye on UNIT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Uniti Group (UNIT - Free Report) shares ended the last trading session 10.7% higher at $14.40. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 1.3% gain over the past four weeks.
This increased investor optimism can be attributed to the news of a group including Zayo Group LLC looking for acquisition of Uniti Group and its key client Windstream Holdings II LLC.
This real estate investment trust is expected to post quarterly funds from operations (FFO) of $0.37 per share in its upcoming report, which represents a year-over-year change of -11.9%. Revenues are expected to be $271.16 million, up 4.8% from the year-ago quarter.
While FFO and revenue growth expectations certainly give a good sense of the potential strength in a stock, empirical research shows that trends in FFO estimate revisions are strongly correlated with near-term stock price movements.
For Uniti, the consensus FFO per share estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in FFO estimate revisions. So, make sure to keep an eye on UNIT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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