What Will Happen to Uniti Group Inc. (UNIT) Next? The Stock Formed a Several Months Double Bottom Chart Pattern

March 20, 2018 - By Darrin Black

The chart of Uniti Group Inc. (UNIT) shows a double bottom with $16.24 target or 4.00 % below today’s $16.92 share price. The 9 months chart pattern indicates high risk for the $2.97 billion company. It was reported on Mar, 20 by Finviz.com. If the $16.24 price target is reached, the company will be worth $118.72 million less. Double bottoms are rare but powerful chart patterns.

The stock decreased 2.59% or $0.45 during the last trading session, reaching $16.92. About 2.02 million shares traded. Uniti Group Inc. (NASDAQ:UNIT) has risen 0.96% since March 20, 2017 and is uptrending. It has underperformed by 15.74% the S&P500.

Analysts await Uniti Group Inc. (NASDAQ:UNIT) to report earnings on May, 3. They expect $0.62 EPS, down 4.62 % or $0.03 from last year’s $0.65 per share. UNIT’s profit will be $108.76 million for 6.82 P/E if the $0.62 EPS becomes a reality. After $0.64 actual EPS reported by Uniti Group Inc. for the previous quarter, Wall Street now forecasts -3.13 % negative EPS growth.

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