Ubiquiti Networks (NASDAQ:UBNT) announced that its board has approved a stock repurchase program, which allows the company to repurchase $200.00 million in shares on Tuesday, March 13th, EventVestor reports. This repurchase authorization allows the Wireless communications provider to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
Shares of Ubiquiti Networks (NASDAQ UBNT) opened at $71.29 on Friday. The stock has a market capitalization of $5,424.09, a PE ratio of 40.28, a price-to-earnings-growth ratio of 1.95 and a beta of 0.81. Ubiquiti Networks has a 52 week low of $45.71 and a 52 week high of $82.30. The company has a debt-to-equity ratio of 0.95, a quick ratio of 10.00 and a current ratio of 10.94.
Ubiquiti Networks (NASDAQ:UBNT) last released its quarterly earnings results on Thursday, February 8th. The Wireless communications provider reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.06. The business had revenue of $250.80 million during the quarter, compared to the consensus estimate of $239.89 million. Ubiquiti Networks had a return on equity of 47.42% and a net margin of 15.73%. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 EPS. equities research analysts anticipate that Ubiquiti Networks will post 1.93 earnings per share for the current year.
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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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