Ubiquiti Inc. Declares Quarterly Dividend of $0.60 (NYSE:UI)

Ubiquiti Inc. (NYSE:UI - Get Free Report) announced a quarterly dividend on Friday, November 8th,Zacks Dividends reports. Shareholders of record on Monday, November 18th will be given a dividend of 0.60 per share on Monday, November 25th. This represents a $2.40 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Monday, November 18th.

Ubiquiti has increased its dividend by an average of 19.7% per year over the last three years. Ubiquiti has a payout ratio of 29.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ubiquiti to earn $7.39 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 32.5%.

Ubiquiti Stock Up 19.8 %

Shares of NYSE UI traded up $51.65 during mid-day trading on Friday, reaching $312.91. The company had a trading volume of 200,050 shares, compared to its average volume of 76,498. The company has a debt-to-equity ratio of 7.05, a quick ratio of 1.59 and a current ratio of 3.22. Ubiquiti has a twelve month low of $103.27 and a twelve month high of $319.12. The stock's 50 day moving average is $231.06 and its 200-day moving average is $179.79. The stock has a market capitalization of $18.92 billion, a PE ratio of 54.04 and a beta of 1.13.

Ubiquiti (NYSE:UI - Get Free Report) last announced its quarterly earnings results on Friday, August 23rd. The company reported $1.74 earnings per share for the quarter, missing analysts' consensus estimates of $1.91 by ($0.17). The company had revenue of $507.50 million during the quarter, compared to analyst estimates of $538.23 million. Ubiquiti had a return on equity of 3,321.33% and a net margin of 18.15%. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. As a group, equities analysts anticipate that Ubiquiti will post 7.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on UI. Barclays dropped their price target on shares of Ubiquiti from $108.00 to $104.00 and set an "underweight" rating on the stock in a research report on Tuesday, August 27th. StockNews.com downgraded shares of Ubiquiti from a "buy" rating to a "hold" rating in a research note on Tuesday, September 3rd. Finally, BWS Financial raised their price objective on shares of Ubiquiti from $160.00 to $240.00 and gave the stock a "buy" rating in a report on Monday, August 26th.

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.