$216.06 Million in Sales Expected for Ubiquiti Networks Inc (UBNT) This Quarter
Equities analysts expect Ubiquiti Networks Inc (NASDAQ:UBNT) to post $216.06 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Ubiquiti Networks’ earnings, with the lowest sales estimate coming in at $205.93 million and the highest estimate coming in at $222.07 million. Ubiquiti Networks reported sales of $185.68 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 16.4%. The business is scheduled to announce its next quarterly earnings report on Thursday, August 3rd.
On average, analysts expect that Ubiquiti Networks will report full year sales of $216.06 million for the current financial year, with estimates ranging from $839.8 million to $858.72 million. For the next fiscal year, analysts anticipate that the company will report sales of $923.3 million per share, with estimates ranging from $863.18 million to $960 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Ubiquiti Networks.
Ubiquiti Networks (NASDAQ:UBNT) last posted its quarterly earnings results on Thursday, May 4th. The Wireless communications provider reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.09. The business had revenue of $218.36 million for the quarter, compared to analysts’ expectations of $213.63 million. Ubiquiti Networks had a return on equity of 49.28% and a net margin of 31.48%. The business’s quarterly revenue was up 30.4% on a year-over-year basis. During the same period last year, the firm earned $0.63 earnings per share.
Several research analysts recently weighed in on UBNT shares. Zacks Investment Research upgraded shares of Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Saturday, February 18th. Deutsche Bank AG increased their price objective on shares of Ubiquiti Networks from $38.00 to $40.00 and gave the company a “hold” rating in a report on Monday, May 8th. Finally, Credit Suisse Group AG reiterated a “sell” rating and issued a $44.00 price objective on shares of Ubiquiti Networks in a report on Tuesday, May 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $47.40.
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A number of large investors have recently made changes to their positions in the company. Spark Investment Management LLC raised its stake in shares of Ubiquiti Networks by 13.2% in the third quarter. Spark Investment Management LLC now owns 130,700 shares of the Wireless communications provider’s stock valued at $6,992,000 after buying an additional 15,200 shares in the last quarter. BlackRock Fund Advisors raised its position in Ubiquiti Networks by 6.9% in the third quarter. BlackRock Fund Advisors now owns 692,737 shares of the Wireless communications provider’s stock worth $37,061,000 after buying an additional 44,636 shares in the last quarter. Capital Impact Advisors LLC raised its position in Ubiquiti Networks by 43.5% in the first quarter. Capital Impact Advisors LLC now owns 34,422 shares of the Wireless communications provider’s stock worth $1,730,000 after buying an additional 10,433 shares in the last quarter. Norges Bank acquired a new position in Ubiquiti Networks during the fourth quarter worth approximately $24,664,000. Finally, State Street Corp raised its position in Ubiquiti Networks by 3.5% in the fourth quarter. State Street Corp now owns 494,652 shares of the Wireless communications provider’s stock worth $28,591,000 after buying an additional 16,542 shares in the last quarter. Hedge funds and other institutional investors own 29.54% of the company’s stock.
Ubiquiti Networks (NASDAQ:UBNT) traded up 0.95% during midday trading on Friday, reaching $47.75. The company’s stock had a trading volume of 297,024 shares. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of 15.70 and a beta of 1.14. Ubiquiti Networks has a one year low of $36.13 and a one year high of $64.62. The stock’s 50 day moving average price is $49.27 and its 200-day moving average price is $53.59.
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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