Ubiquiti Networks, Inc. (UBNT) to Release Quarterly Earnings on Wednesday
Ubiquiti Networks, Inc. (NASDAQ:UBNT) is scheduled to be announcing its earnings results 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 earnings results on Thursday, August 3rd. The Wireless communications provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.06. Ubiquiti Networks had a net margin of 29.76% and a return on equity of 45.87%. The company had revenue of $228.60 million for the quarter, compared to analyst estimates of $219.14 million. During the same period in the prior year, the business posted $0.69 earnings per share. The firm’s revenue for the quarter was up 23.1% compared to the same quarter last year. 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. (UBNT) opened at 63.05 on Wednesday. Ubiquiti Networks, Inc. has a 12 month low of $45.71 and a 12 month high of $67.80. The firm has a market capitalization of $5.07 billion, a price-to-earnings ratio of 20.40 and a beta of 0.51. The firm’s 50-day moving average is $57.12 and its 200 day moving average is $54.34.
Ubiquiti Networks announced that its board has approved a share 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 repurchase up to 18% of its stock through open market purchases. Stock buyback programs are often a sign 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 Ubiquiti Networks stock in a transaction that occurred 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 transaction, the insider now owns 56,278,181 shares of the company’s stock, valued at approximately $3,447,038,586.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 70.34% of the company’s stock.
A number of research firms have commented on UBNT. Vetr upgraded shares of Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $58.36 price target on the stock in a research report on Wednesday, August 2nd. BidaskClub upgraded shares of Ubiquiti Networks from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Deutsche Bank AG boosted their price target 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. Finally, Zacks Investment Research upgraded shares of Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock 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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