Ubiquiti Networks, Inc. (NASDAQ:UBNT) is scheduled to be issuing its quarterly earnings data before the market opens on Wednesday, November 1st. Analysts expect the company to announce earnings of $0.85 per share for the quarter.
Ubiquiti Networks (NASDAQ:UBNT) last issued its quarterly earnings data on Thursday, August 3rd. The Wireless communications provider reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.06. The company had revenue of $228.60 million for the quarter, compared to the consensus estimate of $219.14 million. Ubiquiti Networks had a net margin of 29.76% and a return on equity of 45.87%. The firm’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.69 earnings per share. On average, analysts expect Ubiquiti Networks to post $2.78 EPS for the current fiscal year and $3.42 EPS for the next fiscal year.
Ubiquiti Networks, Inc. (NASDAQ:UBNT) opened at 65.85 on Monday. Ubiquiti Networks, Inc. has a 12 month low of $45.71 and a 12 month high of $67.80. The company’s 50-day moving average is $57.70 and its 200-day moving average is $54.60. The company has a market cap of $5.29 billion, a P/E ratio of 21.31 and a beta of 0.51.
Ubiquiti Networks announced that its board has authorized a stock repurchase 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 shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
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In other news, insider Robert J. Pera sold 1,000,000 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $61.25, for a total value of $61,250,000.00. Following the sale, the insider now directly owns 56,278,181 shares of the company’s stock, valued at approximately $3,447,038,586.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 70.34% of the stock is owned by corporate insiders.
UBNT has been the topic of several research analyst reports. Vetr downgraded shares of Ubiquiti Networks from a “strong-buy” rating to a “buy” rating and set a $65.54 target price on the stock. in a research report on Wednesday, August 30th. BidaskClub raised shares of Ubiquiti Networks from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research raised shares of Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Thursday, October 5th. ValuEngine downgraded shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, Deutsche Bank AG boosted their target price on shares of Ubiquiti Networks from $40.00 to $44.00 and gave the stock a “hold” rating in a research report on Monday, August 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $58.06.
About Ubiquiti Networks
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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