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

Ubiquiti Inc. (NYSE:UI) announced a quarterly dividend on Friday, November 8th,Zacks Dividends reports. Stockholders 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 annualized dividend and a dividend yield of 0.72%. The ex-dividend date is Monday, November 18th.

Ubiquiti has increased its dividend by an average of 19.7% annually over the last three years. Ubiquiti has a dividend payout ratio of 29.8% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of UI opened at $335.14 on Friday. Ubiquiti has a 1-year low of $104.24 and a 1-year high of $355.31. The stock has a market cap of $20.27 billion, a PE ratio of 51.88 and a beta of 1.13. The company has a debt-to-equity ratio of 2.80, a current ratio of 2.54 and a quick ratio of 1.59. The firm has a fifty day moving average price of $245.98 and a 200 day moving average price of $188.44.

Ubiquiti (NYSE:UI) 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 analysts’ expectations of $538.23 million. Ubiquiti had a net margin of 19.36% and a return on equity of 532.06%. Ubiquiti’s revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ubiquiti will post 7.09 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on UI. Barclays lifted their price objective on shares of Ubiquiti from $104.00 to $236.00 and gave the company an “underweight” rating in a research note on Monday, November 11th. StockNews.com upgraded shares of Ubiquiti from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, BWS Financial lifted their price objective on shares of Ubiquiti from $240.00 to $385.00 and gave the company a “buy” rating in a research note on Monday, November 11th.

About Ubiquiti

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.