Unit Co. (NYSE:UNT) Expected to Post FY2019 Earnings of ($0.62) Per Share

Unit Co. (NYSE:UNT) – SunTrust Banks dropped their FY2019 earnings estimates for shares of Unit in a report released on Sunday, November 10th. SunTrust Banks analyst N. Dingmann now anticipates that the oil and gas company will post earnings of ($0.62) per share for the year, down from their previous estimate of ($0.51). SunTrust Banks also issued estimates for Unit’s Q4 2019 earnings at ($0.17) EPS, Q1 2020 earnings at ($0.06) EPS, Q3 2020 earnings at ($0.04) EPS, Q4 2020 earnings at ($0.02) EPS, FY2020 earnings at ($0.18) EPS, Q1 2021 earnings at $0.02 EPS, Q2 2021 earnings at $0.00 EPS, Q3 2021 earnings at $0.01 EPS and FY2021 earnings at $0.05 EPS.

Several other research analysts also recently issued reports on the stock. Raymond James downgraded shares of Unit from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. ValuEngine upgraded shares of Unit from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 1st. Finally, Zacks Investment Research downgraded shares of Unit from a “hold” rating to a “strong sell” rating in a report on Saturday, October 19th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $19.00.

NYSE:UNT opened at $0.90 on Wednesday. The firm’s 50-day moving average is $2.56 and its 200-day moving average is $6.17. Unit has a 52-week low of $0.83 and a 52-week high of $22.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market cap of $50.54 million, a price-to-earnings ratio of 0.90 and a beta of 2.69.

Unit (NYSE:UNT) last announced its earnings results on Friday, November 8th. The oil and gas company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.06). Unit had a negative return on equity of 0.65% and a negative net margin of 40.93%. The firm had revenue of $155.44 million during the quarter, compared to the consensus estimate of $160.87 million. During the same quarter last year, the business earned $0.30 EPS. The business’s revenue was down 29.4% compared to the same quarter last year.

Several large investors have recently bought and sold shares of UNT. Arizona State Retirement System boosted its position in shares of Unit by 2.6% during the 2nd quarter. Arizona State Retirement System now owns 86,043 shares of the oil and gas company’s stock valued at $765,000 after acquiring an additional 2,176 shares in the last quarter. Swiss National Bank boosted its position in shares of Unit by 2.7% during the 2nd quarter. Swiss National Bank now owns 101,200 shares of the oil and gas company’s stock valued at $900,000 after acquiring an additional 2,700 shares in the last quarter. Strs Ohio boosted its position in shares of Unit by 7.6% during the 2nd quarter. Strs Ohio now owns 41,000 shares of the oil and gas company’s stock valued at $364,000 after acquiring an additional 2,900 shares in the last quarter. Elkfork Partners LLC boosted its position in shares of Unit by 30.1% during the 2nd quarter. Elkfork Partners LLC now owns 13,596 shares of the oil and gas company’s stock valued at $121,000 after acquiring an additional 3,146 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Unit by 10.2% during the 2nd quarter. Bank of Montreal Can now owns 38,251 shares of the oil and gas company’s stock valued at $340,000 after acquiring an additional 3,533 shares in the last quarter. Institutional investors own 86.37% of the company’s stock.

Unit Company Profile

Unit Corporation, together with its subsidiaries, engages in the exploration, acquisition, development, and production of oil and natural gas properties in the United States. It operates through three segments: Oil and Natural Gas, Contract Drilling, and Mid-Stream. The Oil and Natural Gas segment explores for, acquires, develops, and produces oil and natural gas properties.

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Earnings History and Estimates for Unit (NYSE:UNT)

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