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

Ubiquiti Inc. (NYSE:UI) declared a quarterly dividend on Friday, February 7th,RTT News reports. Investors of record on Tuesday, February 18th will be given a dividend of 0.60 per share on Monday, February 24th. This represents a $2.40 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Tuesday, February 18th.

Ubiquiti has increased its dividend by an average of 6.3% per year over the last three years. Ubiquiti has a dividend payout ratio of 28.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ubiquiti to earn $8.10 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 29.6%.

Ubiquiti Stock Down 0.3 %

Shares of NYSE UI opened at $342.28 on Friday. The company has a current ratio of 2.54, a quick ratio of 1.32 and a debt-to-equity ratio of 2.80. The company has a market cap of $20.70 billion, a price-to-earnings ratio of 52.98 and a beta of 1.14. Ubiquiti has a 12 month low of $104.24 and a 12 month high of $469.98. The stock has a 50-day moving average price of $369.41 and a two-hundred day moving average price of $286.61.

Ubiquiti (NYSE:UI) last issued its earnings results on Friday, February 14th. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.14 by $0.12. Ubiquiti had a return on equity of 532.06% and a net margin of 19.36%. During the same quarter in the prior year, the business earned $1.36 earnings per share. As a group, analysts forecast that Ubiquiti will post 7.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the company. BWS Financial reissued a “buy” rating and set a $440.00 target price on shares of Ubiquiti in a research note on Monday, February 10th. StockNews.com raised Ubiquiti from a “hold” rating to a “buy” rating in a research note on Sunday, November 17th. Finally, Barclays reduced their price target on Ubiquiti from $236.00 to $222.00 and set an “underweight” rating on the stock in a report on Monday, February 10th.

Insider Transactions at Ubiquiti

In other news, CAO Kevin Radigan sold 1,000 shares of the business’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $347.99, for a total transaction of $347,990.00. Following the sale, the chief accounting officer now directly owns 2,484 shares in the company, valued at approximately $864,407.16. The trade was a 28.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 93.10% of the company’s stock.

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.