Shares of Ubiquiti Inc. (NYSE:UI – Get Free Report) gapped up before the market opened on Friday after the company announced a dividend. The stock had previously closed at $261.26, but opened at $283.47. Ubiquiti shares last traded at $310.03, with a volume of 23,664 shares traded.
The newly announced dividend which will be paid on Monday, November 25th. Stockholders of record on Monday, November 18th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Monday, November 18th. Ubiquiti’s dividend payout ratio is presently 41.45%.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on UI shares. BWS Financial increased their price objective on Ubiquiti from $160.00 to $240.00 and gave the company a “buy” rating in a report on Monday, August 26th. Barclays dropped their target price on Ubiquiti from $108.00 to $104.00 and set an “underweight” rating on the stock in a report on Tuesday, August 27th. Finally, StockNews.com lowered Ubiquiti from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd.
Ubiquiti Stock Performance
The stock has a market capitalization of $18.92 billion, a price-to-earnings ratio of 54.04 and a beta of 1.13. The firm has a fifty day moving average of $231.06 and a 200 day moving average of $179.79. The company has a debt-to-equity ratio of 7.05, a current ratio of 3.22 and a quick ratio of 1.59.
Ubiquiti (NYSE:UI – Get Free Report) last issued its quarterly earnings results on Friday, August 23rd. The company reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.17). The business had revenue of $507.50 million for the quarter, compared to analysts’ expectations of $538.23 million. Ubiquiti had a return on equity of 3,321.33% and a net margin of 18.15%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Ubiquiti Inc. will post 7.09 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Ubiquiti
Hedge funds and other institutional investors have recently made changes to their positions in the company. Huntington National Bank lifted its position in shares of Ubiquiti by 267.6% in the third quarter. Huntington National Bank now owns 125 shares of the company’s stock valued at $28,000 after acquiring an additional 91 shares in the last quarter. Raleigh Capital Management Inc. acquired a new position in Ubiquiti during the third quarter worth $47,000. nVerses Capital LLC acquired a new position in Ubiquiti during the second quarter worth $44,000. Hanseatic Management Services Inc. acquired a new position in Ubiquiti during the third quarter worth $76,000. Finally, Covestor Ltd boosted its stake in Ubiquiti by 29.0% during the first quarter. Covestor Ltd now owns 516 shares of the company’s stock worth $60,000 after buying an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 4.00% of the company’s stock.
About Ubiquiti
Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers. The company develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing and related software; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other WLAN products.
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