FY2029 EPS Estimates for Ubiquiti Boosted by Zacks Research

Ubiquiti Inc. (NYSE:UI) – Zacks Research boosted their FY2029 earnings per share estimates for Ubiquiti in a research note issued on Monday, September 21st. Zacks Research analyst Team now expects that the company will earn $21.00 per share for the year, up from their previous estimate of $20.76. Zacks Research has a “Strong-Buy” rating on the stock. The consensus estimate for Ubiquiti’s current full-year earnings is $16.94 per share.

Ubiquiti (NYSE:UI) last posted its earnings results on Friday, August 21st. The company reported $4.73 EPS for the quarter, beating analysts’ consensus estimates of $4.03 by $0.70. Ubiquiti had a return on equity of 85.57% and a net margin of 29.33%.The company had revenue of $937.32 million for the quarter, compared to the consensus estimate of $850.50 million. During the same quarter in the previous year, the business earned $4.41 earnings per share.

UI has been the topic of several other reports. Barclays reduced their price objective on shares of Ubiquiti from $672.00 to $489.00 and set an “underweight” rating on the stock in a report on Monday, August 24th. BWS Financial reiterated a “buy” rating and set a $980.00 price target on shares of Ubiquiti in a research report on Thursday, August 27th. Finally, Weiss Ratings downgraded shares of Ubiquiti from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $734.50.

Ubiquiti Trading Down 1.0%

NYSE UI opened at $583.77 on Tuesday. The stock has a market cap of $35.34 billion, a PE ratio of 36.83 and a beta of 1.31. Ubiquiti has a twelve month low of $500.23 and a twelve month high of $1,099.99. The stock has a fifty day simple moving average of $564.03 and a 200-day simple moving average of $671.83.

Hedge Funds Weigh In On Ubiquiti

Hedge funds and other institutional investors have recently bought and sold shares of the company. Corient Private Wealth LLC raised its stake in shares of Ubiquiti by 73,940.4% in the fourth quarter. Corient Private Wealth LLC now owns 1,113,568 shares of the company’s stock valued at $616,193,000 after acquiring an additional 1,112,064 shares in the last quarter. BlackRock Inc. acquired a new stake in Ubiquiti in the 2nd quarter valued at about $163,010,000. Bank of New York Mellon Corp acquired a new stake in Ubiquiti in the 2nd quarter valued at about $30,086,000. Norges Bank purchased a new position in shares of Ubiquiti in the 4th quarter valued at about $28,527,000. Finally, Walleye Capital LLC purchased a new position in shares of Ubiquiti in the 2nd quarter valued at about $27,413,000. 4.00% of the stock is currently owned by hedge funds and other institutional investors.

Ubiquiti Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 31st were issued a $1.00 dividend. The ex-dividend date was Monday, August 31st. This represents a $4.00 annualized dividend and a dividend yield of 0.7%. This is a boost from Ubiquiti’s previous quarterly dividend of $0.80. Ubiquiti’s dividend payout ratio (DPR) is presently 25.24%.

Ubiquiti Company Profile

Ubiquiti Inc develops and sells networking technology for businesses, service providers and consumers. Its products include wireless access points, routers, gateways, switches, security cameras, access-control systems and network management software.

The company markets its products through several technology platforms and brands, including UniFi for enterprise and small-business networking, and airMAX, LTU and related products for wireless internet service providers. Ubiquiti also offers consumer-focused networking products under the AmpliFi brand and operates software and services designed to help customers manage their networks.

Founded in 2003 by Robert Pera, Ubiquiti serves customers internationally through distributors, online channels and other sales partners.