Zacks Research Raises Earnings Estimates for Ubiquiti

Ubiquiti Inc. (NYSE:UI) – Zacks Research increased their FY2029 earnings per share estimates for Ubiquiti in a report released on Monday, September 21st. Zacks Research analyst Team now anticipates that the company will post earnings per share of $21.00 for the year, up from their prior estimate of $20.76. Zacks Research currently has a “Strong-Buy” rating on the stock. The consensus estimate for Ubiquiti’s current full-year earnings is $16.94 per share.

UI has been the subject of a number of other reports. Weiss Ratings lowered shares of Ubiquiti from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. BWS Financial reiterated a “buy” rating and issued a $980.00 price objective on shares of Ubiquiti in a report on Thursday, August 27th. Finally, Barclays lowered their target price on Ubiquiti from $672.00 to $489.00 and set an “underweight” rating for the company in a research note on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $734.50.

Ubiquiti Stock Down 1.2%

UI opened at $574.15 on Tuesday. The firm’s 50 day moving average is $565.31 and its 200-day moving average is $668.89. Ubiquiti has a 52-week low of $500.23 and a 52-week high of $1,099.99. The firm has a market capitalization of $34.75 billion, a P/E ratio of 36.22 and a beta of 1.31.

Ubiquiti (NYSE:UI) last released its quarterly earnings results on Friday, August 21st. The company reported $4.73 EPS for the quarter, topping the consensus estimate of $4.03 by $0.70. Ubiquiti had a return on equity of 85.57% and a net margin of 29.33%.The firm had revenue of $937.32 million for the quarter, compared to analyst estimates of $850.50 million. During the same period in the previous year, the company posted $4.41 EPS.

Ubiquiti Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Shareholders of record on Monday, August 31st were paid a dividend of $1.00 per share. This is a positive change from Ubiquiti’s previous quarterly dividend of $0.80. The ex-dividend date was Monday, August 31st. This represents a $4.00 dividend on an annualized basis and a yield of 0.7%. Ubiquiti’s payout ratio is currently 25.24%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC lifted its position in shares of Ubiquiti by 73,940.4% during the fourth quarter. Corient Private Wealth LLC now owns 1,113,568 shares of the company’s stock worth $616,193,000 after purchasing an additional 1,112,064 shares during the last quarter. BlackRock Inc. bought a new stake in Ubiquiti in the second quarter valued at about $163,010,000. Bank of New York Mellon Corp acquired a new stake in Ubiquiti during the second quarter valued at approximately $30,086,000. Norges Bank bought a new position in Ubiquiti during the 4th quarter worth approximately $28,527,000. Finally, Walleye Capital LLC acquired a new position in shares of Ubiquiti in the 2nd quarter worth approximately $27,413,000. 4.00% of the stock is owned by institutional investors and hedge funds.

Ubiquiti Company Profile

Ubiquiti Inc develops and sells networking technology for businesses, service providers and consumers. Its products include wireless access points, routers, gateways, switches, security cameras, access-control systems and network management software.

The company markets its products through several technology platforms and brands, including UniFi for enterprise and small-business networking, and airMAX, LTU and related products for wireless internet service providers. Ubiquiti also offers consumer-focused networking products under the AmpliFi brand and operates software and services designed to help customers manage their networks.

Founded in 2003 by Robert Pera, Ubiquiti serves customers internationally through distributors, online channels and other sales partners.