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

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

Ubiquiti has increased its dividend payment by an average of 19.7% annually over the last three years. Ubiquiti has a payout ratio of 29.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 NYSE:UI opened at $312.91 on Friday. The business has a fifty day moving average of $231.06 and a two-hundred day 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. The stock has a market cap of $18.92 billion, a P/E ratio of 53.92 and a beta of 1.13. Ubiquiti has a 52-week low of $103.27 and a 52-week high of $319.12.

Ubiquiti (NYSE:UI) last issued its earnings results on Friday, August 23rd. The company reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.17). Ubiquiti had a return on equity of 3,321.33% and a net margin of 18.15%. The firm had revenue of $507.50 million for the quarter, compared to analysts’ expectations of $538.23 million. The firm’s revenue was up 3.3% compared to the same quarter last year. On average, research analysts expect that Ubiquiti will post 7.09 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on UI. BWS Financial increased 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. StockNews.com downgraded Ubiquiti from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Finally, Barclays decreased their target price on shares of Ubiquiti from $108.00 to $104.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 27th.

About Ubiquiti

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.