Ubiquiti Networks (NASDAQ:UBNT) posted its earnings results on Thursday. The Wireless communications provider reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.06, Bloomberg Earnings reports. Ubiquiti Networks had a net margin of 28.76% and a return on equity of 45.45%. The company had revenue of $250.80 million for the quarter, compared to analyst estimates of $239.89 million. During the same quarter in the prior year, the business posted $0.72 EPS. The firm’s revenue was up 17.5% compared to the same quarter last year. Ubiquiti Networks updated its Q3 guidance to $0.92-0.99 EPS.
Shares of Ubiquiti Networks (UBNT) opened at $70.55 on Friday. Ubiquiti Networks has a 52-week low of $45.71 and a 52-week high of $82.30. The stock has a market cap of $5,360.00, a PE ratio of 39.86, a price-to-earnings-growth ratio of 1.33 and a beta of 0.58.
A number of equities research analysts recently weighed in on UBNT shares. ValuEngine upgraded shares of Ubiquiti Networks from a “hold” rating to a “buy” rating in a report on Friday, November 10th. BidaskClub lowered shares of Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. Zacks Investment Research upgraded shares of Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Friday, January 12th. Deutsche Bank upped their target price on shares of Ubiquiti Networks from $47.00 to $55.00 and gave the stock a “hold” rating in a report on Friday. Finally, Vetr upgraded shares of Ubiquiti Networks from a “sell” rating to a “hold” rating and set a $74.74 target price on the stock in a report on Monday, February 5th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $65.75.
Ubiquiti Networks announced that its Board of Directors has initiated a share buyback program on Thursday, November 9th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the Wireless communications provider to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.
About Ubiquiti Networks
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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