Ubiquiti Networks, Inc. (UBNT) Scheduled to Post Quarterly Earnings on Thursday
Ubiquiti Networks, Inc. (NASDAQ:UBNT) will issue its quarterly earnings data before the market opens on Thursday, November 9th. Analysts expect the company to announce earnings of $0.86 per share for the quarter.
Ubiquiti Networks (NASDAQ:UBNT) last released its quarterly earnings data on Thursday, August 3rd. The Wireless communications provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.06. The company had revenue of $228.60 million during the quarter, compared to the consensus estimate of $219.14 million. Ubiquiti Networks had a net margin of 29.76% and a return on equity of 45.87%. The firm’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same period last year, the firm earned $0.69 EPS. 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 declared that its board has approved a stock buyback plan on Tuesday, September 5th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the Wireless communications provider to repurchase up to 18% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
Several equities analysts recently commented on the stock. Vetr downgraded shares of Ubiquiti Networks from a “buy” rating to a “hold” rating and set a $56.18 price target on the stock. in a research note on Monday, July 31st. Deutsche Bank AG upped their price target on shares of Ubiquiti Networks from $40.00 to $44.00 and gave the company a “hold” rating in a research note on Monday, August 7th. ValuEngine downgraded shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. BidaskClub upgraded shares of Ubiquiti Networks from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 8th. Finally, Credit Suisse Group restated a “sell” rating and issued a $54.00 price target on shares of Ubiquiti Networks in a research note on Friday, August 4th. One 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 currently has a consensus rating of “Buy” and an average target price of $58.06.
In related news, insider Robert J. Pera sold 1,000,000 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $61.25, for a total transaction of $61,250,000.00. Following the completion of the sale, the insider now owns 56,278,181 shares of the company’s stock, valued at $3,447,038,586.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 70.34% of the company’s stock.
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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