Ubiquiti Networks (UBNT) Posts Earnings Results, Beats Expectations By $0.06 EPS

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.

Hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. grew its position in Ubiquiti Networks by 208.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 81,832 shares of the Wireless communications provider’s stock worth $4,253,000 after purchasing an additional 55,308 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Ubiquiti Networks in the 2nd quarter worth about $408,000. Disciplined Growth Investors Inc. MN grew its position in Ubiquiti Networks by 34.4% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,616,027 shares of the Wireless communications provider’s stock worth $83,985,000 after purchasing an additional 413,560 shares in the last quarter. Pier Capital LLC bought a new stake in Ubiquiti Networks in the 3rd quarter worth about $2,827,000. Finally, Public Employees Retirement System of Ohio grew its position in Ubiquiti Networks by 37.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 169,700 shares of the Wireless communications provider’s stock worth $8,819,000 after purchasing an additional 46,300 shares in the last quarter. 33.48% of the stock is owned by institutional investors and hedge funds.

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.

ILLEGAL ACTIVITY NOTICE: “Ubiquiti Networks (UBNT) Posts Earnings Results, Beats Expectations By $0.06 EPS” was posted by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this news story on another site, it was stolen and reposted in violation of US and international copyright and trademark laws. The original version of this news story can be viewed at https://sportsperspectives.com/2018/02/10/ubiquiti-networks-ubnt-posts-earnings-results-beats-expectations-by-0-06-eps.html.

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.

Earnings History for Ubiquiti Networks (NASDAQ:UBNT)

Receive News & Ratings for Ubiquiti Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ubiquiti Networks and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply