33 days have passed by since the last earnings report for Unit Corporation (NYSE:UNT) and the new quarterly results look set to arrive in 57 days. The shares of UNT at the moment are trading at a volume of 0.55 million, which compares with its normal daily standard volume of 802003 shares. This has led to the shares of the company declining by -3.34%, currently exchanging hands at $2.89 a share. UNT stock has been up by $26.17 (-90.05%) ever since it reached its 52-week high of $29.06 back in September 21, 2018. It has progressed below its 50-day moving average of $4.2662 and is down -9.97% over the past week. The stock has retreated -38.2% since the last one arrived so the question here is that will the downbeat trend in that time frame continue leading up to its next earnings release, or is the UNT share price due for a breakout?
Unit Corporation (UNT) Forecasts And Latest Quarter Earnings
Ahead of their fiscal third-quarter to be released on Monday, Nov 04, 2019, 4 analysts who are covering the company are estimating that it will record a profit of -$0.06 per share, with analysts having different outlooks from -$0.16 to $0.11. The current agreed outlook, when compared to the profit recorded last year, is at $0.3 a share, thus a decrease of -120% is expected. The profit view for a complete financial year for Unit Corporation is expected to be around -$0.11 in current year, a growth of nearly -111% from last year which was $1.
Analyzing The Earnings History Of Unit Corporation (NYSE:UNT)
In the past few years, the UNT stock has been known to miss the Wall Street’s earnings projection. The company missed 33% of the time, according to the data pulled on their earnings, was able to meet predictions on 1 occasions and topped expectations 7 times. Looking at the past trend, the price of Unit Corporation shares had sank following the release of their earnings in 21 of the last 39 quarters.
Looking back, here is how Unit Corporation (UNT) stock reacted to earnings misses and beats. It gave investors reason to be bearish with the price going down after 3 of the last four earnings reports. The shares of Unit Corporation recorded -4.7%, -8.75%, -4.86% and 1.39%, respectively, on the first day of past earnings releases. After a week of earnings reports, the changes were -24.57%, -9.66%, -10.48% and -7.93%. Their post-earnings price movements have resulted in an average decrease of -4.23% and an average decrease of -13.16% in Unit Corporation on next day and 7th day, sequentially. UNT’s one month stock performance led to its shares declining by -31.19% with a return of -88.9% witnessed over the last 52 weeks.
Unit Corporation (UNT) Post Earnings Announcement Drift (PEAD)
Back on August 06, 2019, Unit Corporation (NYSE:UNT) released its Q2 results, in which it recorded a loss of -$0.24 that fell short of consensus estimates of $0.08. After the earnings were reported, the price of UNT stock kicked off the session at $3.71 and remained in a range of $4.4 to $4.55 on the first day. The shares were priced at $4.46 at the close with a total volume of shares being 2083822.
On May 02, 2019, the Q1 earnings report was disclosed with EPS of $0.09. This was below the estimation of $0.19 per share. The stock price range of UNT was between $12.6 and $13.2 on the first-day post announcement, after opening the day at $11.92. The session came to close at $12.09 and there was a total volume of 669769 shares.
February 21, 2019 was the day when its Q4 results were unveiled. The earnings came in at $0.27, missing the projected $0.31 per share. The very next day, UNT stock opened at $16.25 while staying in a range of $17.45 to $17.45. At the end, it moved to $16.43 a total volume of shares been 439944.
In the year-ago Q3 earnings on November 06, 2018, the company saw profit per share of $0.3. That was better than the $0.23 analysts had expected. Unit Corporation share price started at $22.02 on the first full trading day post-earning and then exchanged hands between $23.49 and $24.18 throughout the session. The closing price of $24.04 came on the back of 383246 shares in volume.