Ubiquiti Networks (UBNT) Posts Earnings Results, Beats Estimates By $0.16 EPS

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Ubiquiti Networks (NASDAQ:UBNT) released its earnings results on Friday. The Wireless communications provider reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.16, Morningstar.com reports. The company had revenue of $282.90 million during the quarter, compared to analysts’ expectations of $270.60 million. Ubiquiti Networks had a return on equity of 69.24% and a net margin of 19.30%. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 EPS. Ubiquiti Networks updated its FY19 guidance to $4.00-4.80 EPS.

UBNT opened at $111.13 on Friday. The company has a market capitalization of $6.80 billion, a PE ratio of 25.81, a PEG ratio of 1.97 and a beta of 1.11. The company has a debt-to-equity ratio of 1.46, a current ratio of 8.87 and a quick ratio of 7.96. Ubiquiti Networks has a 52 week low of $49.40 and a 52 week high of $112.38.

A number of research analysts have recently commented on UBNT shares. BidaskClub upgraded Ubiquiti Networks from a “hold” rating to a “buy” rating in a research note on Thursday, August 23rd. Credit Suisse Group set a $79.00 target price on Ubiquiti Networks and gave the company a “hold” rating in a research note on Monday, August 27th. Bank of America raised their target price on Ubiquiti Networks from $52.50 to $62.00 and gave the company an “underperform” rating in a research note on Monday, October 29th. Zacks Investment Research cut Ubiquiti Networks from a “buy” rating to a “hold” rating in a research note on Sunday, July 15th. Finally, ValuEngine cut Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $75.62.

In other Ubiquiti Networks news, VP Benjamin Moore sold 100,000 shares of Ubiquiti Networks stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $87.91, for a total transaction of $8,791,000.00. Following the completion of the transaction, the vice president now owns 673,206 shares in the company, valued at $59,181,539.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 78.70% of the company’s stock.

A number of large investors have recently made changes to their positions in UBNT. Guggenheim Capital LLC raised its stake in Ubiquiti Networks by 3.4% during the first quarter. Guggenheim Capital LLC now owns 19,835 shares of the Wireless communications provider’s stock valued at $1,364,000 after buying an additional 645 shares during the last quarter. Xact Kapitalforvaltning AB raised its stake in Ubiquiti Networks by 28.0% during the first quarter. Xact Kapitalforvaltning AB now owns 3,658 shares of the Wireless communications provider’s stock valued at $252,000 after buying an additional 800 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in Ubiquiti Networks during the second quarter valued at $198,000. Daiwa SB Investments Ltd. raised its stake in Ubiquiti Networks by 57.6% during the second quarter. Daiwa SB Investments Ltd. now owns 45,994 shares of the Wireless communications provider’s stock valued at $3,897,000 after buying an additional 16,815 shares during the last quarter. Finally, Amalgamated Bank raised its stake in Ubiquiti Networks by 50.3% during the second quarter. Amalgamated Bank now owns 4,497 shares of the Wireless communications provider’s stock valued at $381,000 after buying an additional 1,504 shares during the last quarter. Institutional investors and hedge funds own 27.13% of the company’s stock.

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Ubiquiti Networks Company Profile

Ubiquiti Networks, Inc develops networking technology for service providers, enterprises, and consumers. It focuses on three principal technologies, including high-capacity distributed Internet access, unified information technology, and consumer electronics for home and personal use. The company's service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, and other WLAN products, as well as offers consumer products under the Ubiquiti Labs brand name.

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Earnings History for Ubiquiti Networks (NASDAQ:UBNT)

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