Wall Street brokerages predict that Ubiquiti Networks, Inc. (NASDAQ:UBNT) will post $0.79 earnings per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Ubiquiti Networks’ earnings, with the highest EPS estimate coming in at $0.86 and the lowest estimate coming in at $0.68. Ubiquiti Networks also posted earnings of $0.79 per share in the same quarter last year. The firm is expected to announce its next earnings report before the market opens on Thursday, November 9th.

On average, analysts expect that Ubiquiti Networks will report full year earnings of $3.41 per share for the current fiscal year, with EPS estimates ranging from $2.82 to $3.72. For the next year, analysts anticipate that the company will report earnings of $3.76 per share, with EPS estimates ranging from $2.89 to $4.37. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Ubiquiti Networks.

A number of research analysts recently weighed in on the company. Deutsche Bank AG raised their price objective on Ubiquiti Networks from $40.00 to $44.00 and gave the company a “hold” rating in a research report on Monday, August 7th. Credit Suisse Group reissued a “sell” rating and issued a $54.00 target price on shares of Ubiquiti Networks in a report on Friday, August 4th. BidaskClub raised Ubiquiti Networks from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 8th. ValuEngine lowered Ubiquiti Networks from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, Vetr raised Ubiquiti Networks from a “buy” rating to a “strong-buy” rating and set a $69.54 target price for the company in a report on Tuesday, August 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $56.07.

In other Ubiquiti Networks news, insider Robert J. Pera sold 1,000,000 shares of Ubiquiti Networks stock in a transaction on Monday, August 28th. The stock was sold at an average price of $61.25, for a total value 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 approximately $3,447,038,586.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 72.80% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. EdgePoint Investment Group Inc. grew its holdings in shares of Ubiquiti Networks by 10.0% in the second quarter. EdgePoint Investment Group Inc. now owns 6,325,182 shares of the Wireless communications provider’s stock worth $328,720,000 after acquiring an additional 575,640 shares during the period. Vanguard Group Inc. grew its holdings in shares of Ubiquiti Networks by 4.5% in the first quarter. Vanguard Group Inc. now owns 2,001,643 shares of the Wireless communications provider’s stock worth $100,601,000 after acquiring an additional 86,845 shares during the period. BlackRock Inc. grew its holdings 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 acquiring an additional 1,949,183 shares during the period. Disciplined Growth Investors Inc. MN grew its holdings in shares of Ubiquiti Networks by 34.4% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,616,027 shares of the Wireless communications provider’s stock worth $83,985,000 after acquiring an additional 413,560 shares during the period. Finally, Jackson Square Partners LLC bought a new stake in shares of Ubiquiti Networks in the second quarter worth $56,496,000. 31.59% of the stock is owned by institutional investors.

Ubiquiti Networks (UBNT) traded up $1.44 during mid-day trading on Monday, reaching $66.36. The company had a trading volume of 212,462 shares, compared to its average volume of 376,073. Ubiquiti Networks has a one year low of $45.71 and a one year high of $67.80. The company has a current ratio of 9.67, a quick ratio of 8.23 and a debt-to-equity ratio of 0.40. The company has a market cap of $5,053.46, a price-to-earnings ratio of 21.08, a PEG ratio of 1.16 and a beta of 0.50.

Ubiquiti Networks announced that its board has approved a share buyback program on Tuesday, September 5th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the Wireless communications provider to buy up to 18% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

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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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