Wall Street brokerages predict that Unit Co. (NYSE:UNT) will report sales of $206.05 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Unit’s earnings. The highest sales estimate is $210.10 million and the lowest is $202.00 million. Unit posted sales of $174.28 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 18.2%. The business is expected to report its next earnings report on Thursday, February 22nd.

According to Zacks, analysts expect that Unit will report full year sales of $206.05 million for the current fiscal year, with estimates ranging from $737.00 million to $744.89 million. For the next fiscal year, analysts anticipate that the firm will post sales of $946.61 million per share, with estimates ranging from $939.23 million to $954.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Unit.

Unit (NYSE:UNT) last released its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.01). Unit had a return on equity of 2.33% and a net margin of 4.28%. The firm had revenue of $188.49 million during the quarter, compared to analysts’ expectations of $189.44 million. During the same period in the prior year, the firm posted $0.04 earnings per share. Unit’s revenue for the quarter was up 22.9% compared to the same quarter last year.

Several equities analysts have issued reports on UNT shares. Cowen reaffirmed a “hold” rating and issued a $25.00 price target on shares of Unit in a report on Sunday, September 17th. Zacks Investment Research downgraded shares of Unit from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. ValuEngine downgraded shares of Unit from a “hold” rating to a “sell” rating in a research note on Thursday, November 30th. SunTrust Banks reiterated a “buy” rating and set a $25.00 price objective on shares of Unit in a research note on Friday, November 3rd. Finally, KLR Group downgraded shares of Unit from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $24.67.

Unit (NYSE UNT) opened at $23.26 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.67 and a debt-to-equity ratio of 0.64. Unit has a 1-year low of $15.29 and a 1-year high of $30.63. The stock has a market cap of $1,229.99, a price-to-earnings ratio of 42.29 and a beta of 2.90.

A number of hedge funds and other institutional investors have recently bought and sold shares of UNT. Dimensional Fund Advisors LP lifted its position in Unit by 21.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,761,169 shares of the oil and gas company’s stock valued at $70,446,000 after purchasing an additional 663,526 shares during the period. Vanguard Group Inc. lifted its position in Unit by 8.6% during the second quarter. Vanguard Group Inc. now owns 6,428,609 shares of the oil and gas company’s stock valued at $120,407,000 after purchasing an additional 511,139 shares during the period. JPMorgan Chase & Co. lifted its position in Unit by 31.2% during the second quarter. JPMorgan Chase & Co. now owns 1,163,461 shares of the oil and gas company’s stock valued at $21,791,000 after purchasing an additional 276,734 shares during the period. LSV Asset Management lifted its position in Unit by 335.8% during the second quarter. LSV Asset Management now owns 255,400 shares of the oil and gas company’s stock valued at $4,783,000 after purchasing an additional 196,800 shares during the period. Finally, Icon Advisers Inc. Co. acquired a new position in Unit during the second quarter valued at $2,688,000. Institutional investors own 95.15% of the company’s stock.

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About Unit

Unit Corporation is an oil and natural gas contract drilling company. The Company has operations in the exploration and production and mid-stream areas. The Company operates through three segments: Oil and Natural Gas, Contract Drilling and Mid-Stream. It is primarily engaged in the exploration, development, acquisition, and production of oil and natural gas properties, the land contract drilling of natural gas and oil wells, and the buying, selling, gathering, processing and treating of natural gas.

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Earnings History and Estimates for Unit (NYSE:UNT)

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