Wall Street analysts expect Ubiquiti Networks, Inc. (NASDAQ:UBNT) to report earnings per share of $0.81 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Ubiquiti Networks’ earnings. The lowest EPS estimate is $0.71 and the highest is $0.91. Ubiquiti Networks reported earnings per share of $0.72 in the same quarter last year, which would suggest a positive year over year growth rate of 12.5%. The firm is expected to report its next earnings report on Thursday, February 8th.
According to Zacks, analysts expect that Ubiquiti Networks will report full year earnings of $3.41 per share for the current financial year, with EPS estimates ranging from $2.82 to $3.72. For the next financial year, analysts anticipate that the company will report earnings of $3.76 per share, with EPS estimates ranging from $2.89 to $4.37. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Ubiquiti Networks.
Ubiquiti Networks (NASDAQ:UBNT) last posted its quarterly earnings results on Thursday, November 9th. The Wireless communications provider reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.06. Ubiquiti Networks had a return on equity of 51.68% and a net margin of 30.47%. The firm had revenue of $245.90 million during the quarter, compared to the consensus estimate of $240.39 million. During the same quarter in the previous year, the business earned $0.79 earnings per share. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year.
A number of research firms have issued reports on UBNT. BMO Capital Markets lowered their price target on Ubiquiti Networks from $66.00 to $60.00 and set a “positive” rating for the company in a research report on Friday. ValuEngine raised Ubiquiti Networks from a “hold” rating to a “buy” rating in a research report on Friday. Vetr raised Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $58.36 price target for the company in a research report on Wednesday, August 2nd. BidaskClub raised Ubiquiti Networks from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Deutsche Bank AG boosted their price target on Ubiquiti Networks from $40.00 to $44.00 and gave the company a “hold” rating in a research report on Monday, August 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $56.86.
In related news, insider Robert J. Pera sold 1,000,000 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $61.25, for a total value of $61,250,000.00. Following the transaction, the insider now owns 56,278,181 shares in the company, valued at $3,447,038,586.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 70.34% of the company’s stock.
Several large investors have recently added to or reduced their stakes in UBNT. BlackRock Inc. lifted its stake in shares of Ubiquiti Networks by 11,607.1% in the first quarter. BlackRock Inc. now owns 1,965,976 shares of the Wireless communications provider’s stock worth $98,810,000 after acquiring an additional 1,949,183 shares in the last quarter. Jackson Square Partners LLC acquired a new position in shares of Ubiquiti Networks in the second quarter worth about $56,496,000. EdgePoint Investment Group Inc. lifted its stake in shares of Ubiquiti Networks by 10.0% in the second quarter. EdgePoint Investment Group Inc. now owns 6,325,182 shares of the Wireless communications provider’s stock worth $328,720,000 after acquiring an additional 575,640 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its stake in shares of Ubiquiti Networks by 34.4% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,616,027 shares of the Wireless communications provider’s stock worth $83,985,000 after acquiring an additional 413,560 shares in the last quarter. Finally, Anchor Capital Advisors LLC acquired a new position in shares of Ubiquiti Networks in the third quarter worth about $20,244,000. Institutional investors and hedge funds own 31.59% of the company’s stock.
Ubiquiti Networks (UBNT) traded down $0.09 during mid-day trading on Monday, reaching $62.54. The company’s stock had a trading volume of 458,400 shares, compared to its average volume of 634,541. Ubiquiti Networks has a 1 year low of $45.71 and a 1 year high of $67.80. The company has a debt-to-equity ratio of 0.40, a quick ratio of 8.23 and a current ratio of 9.67. The stock has a market capitalization of $4,875.25, a P/E ratio of 19.95, a PEG ratio of 1.12 and a beta of 0.50.
Ubiquiti Networks declared that its Board of Directors has approved a share buyback program on Tuesday, September 5th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the Wireless communications provider to buy up to 18% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
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Ubiquiti Networks Company Profile
Ubiquiti Networks, Inc develops performance networking technology for service providers and enterprises. The Company offers a portfolio of networking products and solutions. Its service provider product platforms provide carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing.
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