Ubiquiti Networks (NASDAQ:UBNT) announced that its board has authorized a share repurchase plan, which authorizes the company to buyback $200.00 million in shares on Tuesday, March 13th, EventVestor reports. This buyback authorization authorizes the Wireless communications provider to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
UBNT has been the subject of a number of analyst reports. Zacks Investment Research raised Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Friday, January 12th. TheStreet lowered Ubiquiti Networks from an “a” rating to a “c+” rating in a research note on Friday, February 9th. Deutsche Bank increased their price objective on Ubiquiti Networks from $47.00 to $55.00 and gave the company a “hold” rating in a research note on Friday, February 9th. BMO Capital Markets raised their price target on Ubiquiti Networks from $60.00 to $63.00 and gave the stock a “market perform” rating in a research note on Friday, February 9th. Finally, ValuEngine lowered Ubiquiti Networks from a “buy” rating to a “hold” rating in a research note on Thursday, November 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Ubiquiti Networks has a consensus rating of “Hold” and an average target price of $65.75.
Shares of Ubiquiti Networks (UBNT) opened at $69.82 on Thursday. Ubiquiti Networks has a 52 week low of $45.71 and a 52 week high of $82.30. The company has a market capitalization of $5,430.00, a price-to-earnings ratio of 21.89, a P/E/G ratio of 1.95 and a beta of 0.81. The company has a quick ratio of 10.00, a current ratio of 10.94 and a debt-to-equity ratio of 0.95.
Ubiquiti Networks (NASDAQ:UBNT) last announced its quarterly earnings results on Thursday, February 8th. The Wireless communications provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.06. Ubiquiti Networks had a return on equity of 47.42% and a net margin of 15.73%. The company had revenue of $250.80 million during the quarter, compared to analyst estimates of $239.89 million. During the same quarter last year, the firm posted $0.72 earnings per share. The firm’s revenue was up 17.5% on a year-over-year basis. analysts expect that Ubiquiti Networks will post 1.93 EPS for the current fiscal year.
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Ubiquiti Networks Company Profile
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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