Ubiquiti (NYSE:UI) Announces Quarterly Earnings Results, Misses Estimates By $0.41 EPS

Ubiquiti (NYSE:UI) posted its earnings results on Friday. The company reported $3.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.29 by ($0.41), FiscalAI reports. Ubiquiti had a return on equity of 113.21% and a net margin of 29.90%.The firm had revenue of $788.20 million for the quarter, compared to analyst estimates of $814.30 million. Ubiquiti’s revenue for the quarter was up 18.7% on a year-over-year basis.

Ubiquiti Stock Down 9.1%

NYSE UI traded down $84.44 during trading hours on Friday, hitting $842.26. 255,913 shares of the company were exchanged, compared to its average volume of 106,668. Ubiquiti has a 52-week low of $362.29 and a 52-week high of $1,099.99. The firm has a market cap of $50.97 billion, a price-to-earnings ratio of 57.37 and a beta of 1.46. The company has a 50 day moving average of $870.91 and a two-hundred day moving average of $703.44.

Ubiquiti Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 26th. Shareholders of record on Monday, May 18th will be issued a dividend of $0.80 per share. The ex-dividend date is Monday, May 18th. This represents a $3.20 annualized dividend and a yield of 0.4%. Ubiquiti’s dividend payout ratio is 21.80%.

Analyst Upgrades and Downgrades

UI has been the topic of several research reports. BWS Financial increased their target price on Ubiquiti from $720.00 to $980.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Barclays upped their price target on Ubiquiti from $455.00 to $527.00 and gave the stock an “underweight” rating in a report on Friday, February 6th. Wall Street Zen downgraded Ubiquiti from a “buy” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings upgraded Ubiquiti from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 23rd. Finally, Zacks Research downgraded Ubiquiti from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $702.33.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in UI. Arrowstreet Capital Limited Partnership increased its holdings in shares of Ubiquiti by 47.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 163,960 shares of the company’s stock valued at $108,309,000 after acquiring an additional 52,744 shares during the last quarter. Qube Research & Technologies Ltd increased its holdings in shares of Ubiquiti by 380.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 53,158 shares of the company’s stock valued at $21,882,000 after acquiring an additional 42,092 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Ubiquiti by 362.7% in the 4th quarter. Invesco Ltd. now owns 47,546 shares of the company’s stock valued at $26,310,000 after acquiring an additional 37,270 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of Ubiquiti by 112.1% in the 4th quarter. Squarepoint Ops LLC now owns 48,108 shares of the company’s stock valued at $26,621,000 after acquiring an additional 25,421 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Ubiquiti by 117.7% in the 2nd quarter. Jane Street Group LLC now owns 29,974 shares of the company’s stock valued at $12,339,000 after acquiring an additional 16,206 shares during the last quarter. Hedge funds and other institutional investors own 4.00% of the company’s stock.

Ubiquiti Company Profile

Ubiquiti Inc (NYSE: UI) is a U.S.-based technology company that designs and sells networking and wireless communication products for enterprise, service provider and consumer markets. Its product portfolio includes Wi?Fi access points, routers and gateways, managed Ethernet switches, network management software, and IP surveillance systems. Ubiquiti’s offerings are organized under several well?known lines—most notably UniFi for managed LAN/Wi?Fi and networked video, AmpliFi for consumer Wi?Fi, and product families targeting service?provider and point?to?point wireless broadband applications.

The company emphasizes integrated hardware and software solutions, with centralized management and cloud?enabled control as core features of its platform approach.