Wall Street analysts predict that Unit Co. (NYSE:UNT) will post $216.85 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Unit’s earnings. The highest sales estimate is $217.71 million and the lowest is $216.00 million. Unit posted sales of $204.85 million in the same quarter last year, which would indicate a positive year over year growth rate of 5.9%. The firm is scheduled to announce its next earnings report on Thursday, February 28th.

According to Zacks, analysts expect that Unit will report full year sales of $840.55 million for the current year, with estimates ranging from $837.09 million to $844.00 million. For the next year, analysts forecast that the company will post sales of $945.18 million, with estimates ranging from $914.00 million to $976.36 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Unit.

Unit (NYSE:UNT) last announced its earnings results on Tuesday, November 6th. The oil and gas company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.23 by $0.07. Unit had a return on equity of 3.28% and a net margin of 14.60%. The business had revenue of $220.10 million during the quarter, compared to the consensus estimate of $212.34 million. During the same period in the prior year, the business posted $0.10 earnings per share. Unit’s revenue was up 16.8% compared to the same quarter last year.

Several equities research analysts have recently commented on the company. ValuEngine raised Unit from a “hold” rating to a “buy” rating in a report on Wednesday, November 7th. Zacks Investment Research lowered Unit from a “buy” rating to a “hold” rating in a research report on Wednesday, October 31st. Stephens assumed coverage on Unit in a research report on Thursday, December 6th. They set an “equal weight” rating and a $25.00 price target on the stock. MKM Partners assumed coverage on Unit in a research report on Wednesday, December 5th. They set a “neutral” rating and a $20.00 price target on the stock. Finally, Raymond James lowered Unit from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, December 13th. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $26.43.

Shares of NYSE UNT traded down $0.20 during mid-day trading on Wednesday, hitting $17.32. 200,432 shares of the company traded hands, compared to its average volume of 452,275. Unit has a 1 year low of $13.19 and a 1 year high of $29.06. The company has a market cap of $946.56 million, a price-to-earnings ratio of 32.07 and a beta of 2.90. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.39.

Hedge funds and other institutional investors have recently modified their holdings of the company. United Services Automobile Association acquired a new position in shares of Unit during the 2nd quarter valued at about $286,000. Glen Harbor Capital Management LLC increased its holdings in shares of Unit by 26.8% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 12,070 shares of the oil and gas company’s stock valued at $309,000 after acquiring an additional 2,550 shares during the last quarter. Martingale Asset Management L P increased its holdings in shares of Unit by 6.3% during the 3rd quarter. Martingale Asset Management L P now owns 40,747 shares of the oil and gas company’s stock valued at $1,062,000 after acquiring an additional 2,415 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Unit by 30.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 19,344 shares of the oil and gas company’s stock valued at $504,000 after acquiring an additional 4,500 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Unit by 3.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 530,570 shares of the oil and gas company’s stock valued at $13,562,000 after acquiring an additional 19,782 shares during the last quarter. 89.87% of the stock is currently owned by institutional investors and hedge funds.

About Unit

Unit Corporation, together with its subsidiaries, operates as a diversified energy company in the United States. The company operates through three segments: Oil and Natural Gas, Contract Drilling, and Mid-Stream. The Oil and Natural Gas segment acquires, explores, develops, and produces oil and natural gas properties.

Featured Article: What is a back-end load?

Get a free copy of the Zacks research report on Unit (UNT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Unit (NYSE:UNT)

Receive News & Ratings for Unit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Unit and related companies with MarketBeat.com's FREE daily email newsletter.