Ubiquiti Inc. Announces Quarterly Dividend of $0.60 (NYSE:UI)

Ubiquiti Inc. (NYSE:UI) announced a quarterly dividend on Friday, November 8th,Zacks Dividends reports. Shareholders of record on Monday, November 18th will be paid a dividend of 0.60 per share on Monday, November 25th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Monday, November 18th.

Ubiquiti has raised its dividend payment by an average of 19.7% per year over the last three years. Ubiquiti has a dividend payout ratio of 29.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Ubiquiti to earn $7.39 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 32.5%.

Ubiquiti Stock Up 19.8 %

Shares of UI opened at $312.91 on Friday. Ubiquiti has a 52-week low of $103.27 and a 52-week high of $319.12. The company has a market capitalization of $18.92 billion, a PE ratio of 48.44 and a beta of 1.13. The stock has a fifty day simple moving average of $231.06 and a two-hundred day simple moving average of $179.79. The company has a quick ratio of 1.59, a current ratio of 3.22 and a debt-to-equity ratio of 7.05.

Ubiquiti (NYSE:UI) last issued its quarterly earnings data on Friday, August 23rd. The company reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.17). The business had revenue of $507.50 million for the quarter, compared to analyst estimates of $538.23 million. Ubiquiti had a return on equity of 3,321.33% and a net margin of 18.15%. Ubiquiti’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities analysts forecast that Ubiquiti will post 7.09 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Barclays cut their price objective on Ubiquiti from $108.00 to $104.00 and set an “underweight” rating for the company in a research report on Tuesday, August 27th. BWS Financial raised their price objective on Ubiquiti from $160.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Finally, StockNews.com downgraded Ubiquiti from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd.

Ubiquiti Company Profile

Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers. The company develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing and related software; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other WLAN products.