Analysts Expect Ubiquiti Networks, Inc. (UBNT) to Announce $0.69 Earnings Per Share
Analysts expect that Ubiquiti Networks, Inc. (NASDAQ:UBNT) will post earnings of $0.69 per share for the current quarter, according to Zacks. Four analysts have provided estimates for Ubiquiti Networks’ earnings. The lowest EPS estimate is $0.65 and the highest is $0.72. Ubiquiti Networks also reported earnings of $0.69 per share during the same quarter last year. The business is scheduled to issue its next earnings report on Thursday, August 3rd.
On average, analysts expect that Ubiquiti Networks will report full-year earnings of $2.98 per share for the current fiscal year, with EPS estimates ranging from $2.93 to $3.01. For the next fiscal year, analysts anticipate that the firm will report earnings of $3.08 per share, with EPS estimates ranging from $2.73 to $3.33. Zacks’ earnings per share averages are an average based on a survey of analysts that that provide coverage for Ubiquiti Networks.
Ubiquiti Networks (NASDAQ:UBNT) last released its earnings results on Thursday, May 4th. The Wireless communications provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.09. Ubiquiti Networks had a net margin of 30.95% and a return on equity of 48.86%. The business had revenue of $218.36 million for the quarter, compared to analyst estimates of $213.63 million. During the same quarter in the previous year, the business earned $0.63 earnings per share. Ubiquiti Networks’s revenue for the quarter was up 30.4% on a year-over-year basis.
A number of equities research analysts have recently weighed in on UBNT shares. Zacks Investment Research lowered shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, April 12th. Credit Suisse Group reaffirmed a “sell” rating and set a $44.00 target price on shares of Ubiquiti Networks in a research note on Tuesday, May 2nd. Vetr lowered shares of Ubiquiti Networks from a “strong-buy” rating to a “buy” rating and set a $55.50 target price on the stock. in a research note on Monday, June 5th. Finally, Deutsche Bank AG lifted their target price on shares of Ubiquiti Networks from $38.00 to $40.00 and gave the company a “hold” rating in a research note on Monday, May 8th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $48.75.
A number of hedge funds and other institutional investors have recently modified their holdings of UBNT. BlackRock Inc. boosted its position 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 buying an additional 1,949,183 shares during the period. Norges Bank purchased a new position in shares of Ubiquiti Networks during the fourth quarter valued at about $24,664,000. Goldman Sachs Group Inc. boosted its position in shares of Ubiquiti Networks by 115.8% in the first quarter. Goldman Sachs Group Inc. now owns 26,524 shares of the Wireless communications provider’s stock valued at $1,333,000 after buying an additional 194,047 shares during the period. Old Mutual Global Investors UK Ltd. boosted its position in shares of Ubiquiti Networks by 62.3% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 498,022 shares of the Wireless communications provider’s stock valued at $25,030,000 after buying an additional 191,091 shares during the period. Finally, State of Tennessee Treasury Department boosted its position in shares of Ubiquiti Networks by 24.2% in the first quarter. State of Tennessee Treasury Department now owns 860,000 shares of the Wireless communications provider’s stock valued at $43,224,000 after buying an additional 167,493 shares during the period. 30.70% of the stock is owned by institutional investors.
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Shares of Ubiquiti Networks (UBNT) traded up 0.134% during trading on Monday, hitting $48.535. 176,213 shares of the stock traded hands. The company has a 50 day moving average price of $48.84 and a 200 day moving average price of $52.93. Ubiquiti Networks has a 12 month low of $36.13 and a 12 month high of $64.62. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 15.955 and a beta of 0.31.
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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