Ubiquiti Networks Inc (UBNT) Updates Q1 Earnings Guidance
Ubiquiti Networks Inc (NASDAQ:UBNT) issued an update on its first quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.52-0.54 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.52, AnalystRatings.Net reports. The company issued revenue guidance of $156-161 million, compared to the consensus revenue estimate of $156.99 million.
Ubiquiti Networks Inc (NASDAQ:UBNT) traded up 0.08% on Thursday, hitting $39.32. The stock had a trading volume of 1,375,331 shares. Ubiquiti Networks Inc has a 52 week low of $25.06 and a 52 week high of $56.85. The stock’s 50-day moving average is $41.73 and its 200-day moving average is $42.36. The company has a market cap of $3.464 billion and a P/E ratio of 22.55. Ubiquiti Networks also was the target of unusually large options trading on Thursday. Investors acquired 2,343 call options on the company. This represents an increase of 189% compared to the typical daily volume of 811 call options.
Ubiquiti Networks (NASDAQ:UBNT) last released its earnings data on Thursday, August 7th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.05. The company had revenue of $156.00 million for the quarter, compared to the consensus estimate of $151.03 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 54.2% on a year-over-year basis. Analysts expect that Ubiquiti Networks Inc will post $1.95 EPS for the current fiscal year.
UBNT has been the subject of a number of recent research reports. Analysts at Raymond James upgraded shares of Ubiquiti Networks from an outperform rating to a strong-buy rating in a research note on Tuesday, May 13th. They now have a $50.00 price target on the stock, up previously from $31.57. They noted that the move was a valuation call. On a related note, analysts at Macquarie cut their price target on shares of Ubiquiti Networks from $65.00 to $55.00 in a research note on Friday, May 9th. Finally, analysts at Deutsche Bank cut their price target on shares of Ubiquiti Networks from $42.00 to $35.00 in a research note on Friday, May 9th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $47.20.
Ubiquiti Networks, Inc (NASDAQ:UBNT) is a communications technology Company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.