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Uniti (UNIT) Surges 7.8%: Is This an Indication of Further Gains?
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Uniti Group (UNIT - Free Report) shares ended the last trading session 7.8% higher at $12.52. 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 2.7% gain over the past four weeks.
The increased investor optimism in the stock can be attributed to the favorable operating environment.
This real estate investment trust is expected to post quarterly loss of $0.43 per share in its upcoming report, which represents a year-over-year change of -975%. Revenues are expected to be $883.47 million, up 193.8% from the year-ago quarter.
While FFO and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in FFO estimate revisions and near-term stock price movements.
For Uniti, the consensus FFO per share estimate for the quarter has been revised 4.1% lower over the last 30 days to the current level. And a negative trend in FFO estimate revisions doesn't usually translate into price appreciation. 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.
Uniti is a member of the Zacks Wireless National industry. One other stock in the same industry, AT&T (T - Free Report) , finished the last trading session 0.9% lower at $23. T has returned -6.2% over the past month.
AT&T's consensus FFO per share estimate for the upcoming report has remained unchanged over the past month at $0.59. Compared to the company's year-ago FFO per share, this represents a change of +9.3%. AT&T currently boasts a Zacks Rank of #3 (Hold).
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Uniti (UNIT) Surges 7.8%: Is This an Indication of Further Gains?
Uniti Group (UNIT - Free Report) shares ended the last trading session 7.8% higher at $12.52. 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 2.7% gain over the past four weeks.
The increased investor optimism in the stock can be attributed to the favorable operating environment.
This real estate investment trust is expected to post quarterly loss of $0.43 per share in its upcoming report, which represents a year-over-year change of -975%. Revenues are expected to be $883.47 million, up 193.8% from the year-ago quarter.
While FFO and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in FFO estimate revisions and near-term stock price movements.
For Uniti, the consensus FFO per share estimate for the quarter has been revised 4.1% lower over the last 30 days to the current level. And a negative trend in FFO estimate revisions doesn't usually translate into price appreciation. 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 >>>>
Uniti is a member of the Zacks Wireless National industry. One other stock in the same industry, AT&T (T - Free Report) , finished the last trading session 0.9% lower at $23. T has returned -6.2% over the past month.
AT&T's consensus FFO per share estimate for the upcoming report has remained unchanged over the past month at $0.59. Compared to the company's year-ago FFO per share, this represents a change of +9.3%. AT&T currently boasts a Zacks Rank of #3 (Hold).