Uniti Group Inc (NASDAQ:UNIT) reported better-than-expected results for the first quarter on Monday.
The company posted quarterly losses of 34 cents per share which beat the analyst consensus estimate of losses of 55 cents per share. The company reported quarterly sales of $987.500 million which beat the analyst consensus estimate of $933.035 million.
Uniti Group affirmed FY2026 sales guidance of $3.605 billion to $3.655 billion .
“2026 is off to a great start at Uniti, fueled by the continued strong demand from hyperscalers and the significant progress we have made to-date on our fiber-to-the-home build. We saw consolidated revenue and Adjusted EBITDA year-over-year growth during the first quarter for the first time as a combined company, which is a significant first step in our goal to achieve full year year-over-year growth by 2027,” commented Kenny Gunderman, President and Chief Executive Officer of Uniti.
Uniti Group shares fell 3% to trade at $11.02 on Tuesday.
These analysts made changes to their price targets on Uniti Group following earnings announcement.
- Wells Fargo analyst Caleb Stein maintained Uniti Group with an Equal-Weight rating and raised the price target from $8 to $9.
- JP Morgan analyst Richard Choe maintained the stock with a Neutral and raised the price target from $8 to $12.
- TD Cowen analyst Gregory Williams maintained the stock with a Buy and raised the price target from $10 to $12.
Considering buying UNIT stock? Here’s what analysts think:
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