Ubiquiti (NYSE:UI) Shares Gap Up After Dividend Announcement

Ubiquiti Inc. (NYSE:UI) shares gapped up prior to trading on Friday after the company announced a dividend. The stock had previously closed at $261.26, but opened at $283.47. Ubiquiti shares last traded at $310.03, with a volume of 23,664 shares traded.

The newly announced dividend which will be paid on Monday, November 25th. Stockholders of record on Monday, November 18th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Monday, November 18th. Ubiquiti’s dividend payout ratio (DPR) is 41.45%.

Analyst Upgrades and Downgrades

UI has been the subject of a number of recent analyst reports. Barclays dropped their price objective on Ubiquiti from $108.00 to $104.00 and set an “underweight” rating for the company in a report on Tuesday, August 27th. StockNews.com cut Ubiquiti from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. Finally, BWS Financial boosted their price objective on Ubiquiti from $160.00 to $240.00 and gave the company a “buy” rating in a report on Monday, August 26th.

Ubiquiti Trading Up 19.8 %

The stock has a market capitalization of $18.92 billion, a P/E ratio of 54.04 and a beta of 1.13. The company has a current ratio of 3.22, a quick ratio of 1.59 and a debt-to-equity ratio of 7.05. The company has a 50-day moving average price of $231.06 and a 200 day moving average price of $179.79.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Huntington National Bank grew its stake in Ubiquiti by 267.6% during the 3rd quarter. Huntington National Bank now owns 125 shares of the company’s stock valued at $28,000 after purchasing an additional 91 shares during the last quarter. nVerses Capital LLC purchased a new stake in Ubiquiti during the 2nd quarter valued at about $44,000. Raleigh Capital Management Inc. purchased a new stake in Ubiquiti during the 3rd quarter valued at about $47,000. Covestor Ltd grew its stake in Ubiquiti by 29.0% during the 1st quarter. Covestor Ltd now owns 516 shares of the company’s stock valued at $60,000 after purchasing an additional 116 shares during the last quarter. Finally, Hanseatic Management Services Inc. purchased a new stake in Ubiquiti during the 3rd quarter valued at about $76,000. 4.00% of the stock is owned by institutional investors and hedge funds.

Ubiquiti Company Profile

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.