Ubiquiti Networks, Inc. (UBNT) to Release Quarterly Earnings on Thursday
Ubiquiti Networks, Inc. (NASDAQ:UBNT) will be announcing its earnings results before the market opens on Thursday, November 9th. Analysts expect the company to announce earnings of $0.86 per share for the quarter.
Ubiquiti Networks, Inc. (NASDAQ UBNT) opened at $66.04 on Wednesday. The company has a current ratio of 9.67, a quick ratio of 8.23 and a debt-to-equity ratio of 0.40. Ubiquiti Networks, Inc. has a twelve month low of $45.71 and a twelve month high of $67.80. The firm has a market cap of $5,120.00, a P/E ratio of 21.08, a PEG ratio of 1.16 and a beta of 0.50.
Ubiquiti Networks declared that its board has authorized a stock repurchase plan on Tuesday, September 5th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the Wireless communications provider to repurchase up to 18% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.
Several research analysts have recently weighed in on UBNT shares. Vetr cut shares of Ubiquiti Networks from a “strong-buy” rating to a “buy” rating and set a $65.54 price objective for the company. in a report on Wednesday, August 30th. Credit Suisse Group reaffirmed a “sell” rating and set a $54.00 target price on shares of Ubiquiti Networks in a report on Friday, August 4th. JMP Securities reaffirmed a “market perform” rating on shares of Ubiquiti Networks in a report on Wednesday, September 27th. ValuEngine cut shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, Zacks Investment Research raised shares of Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a report on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Ubiquiti Networks currently has an average rating of “Hold” and an average target price of $56.07.
In other Ubiquiti Networks news, insider Robert J. Pera sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $61.25, for a total value of $61,250,000.00. Following the completion of the transaction, the insider now directly owns 56,278,181 shares in the company, valued at $3,447,038,586.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 72.80% of the company’s stock.
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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