Ubiquiti Networks (NASDAQ:UBNT) announced that its Board of Directors has initiated a share repurchase program, which authorizes the company to buyback $200.00 million in outstanding 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. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
A number of equities research analysts have recently issued reports on UBNT shares. BidaskClub cut Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 2nd. Vetr cut Ubiquiti Networks from a “hold” rating to a “sell” rating and set a $71.07 price target on the stock. in a research note on Thursday, January 4th. Zacks Investment Research upgraded Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research note on Friday, January 12th. Deutsche Bank increased their price target on Ubiquiti Networks from $47.00 to $55.00 and gave the company a “hold” rating in a research note on Friday, February 9th. Finally, BMO Capital Markets increased their price target on Ubiquiti Networks from $60.00 to $63.00 and gave the company a “market perform” rating in a research note on Friday, February 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $65.75.
Shares of Ubiquiti Networks stock opened at $71.29 on Monday. Ubiquiti Networks has a 12 month low of $45.71 and a 12 month high of $82.30. The company has a quick ratio of 10.00, a current ratio of 10.94 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $5,538.31, a price-to-earnings ratio of 40.28, a P/E/G ratio of 1.99 and a beta of 0.81.
Ubiquiti Networks (NASDAQ:UBNT) last posted its quarterly earnings results on Thursday, February 8th. The Wireless communications provider reported $0.76 earnings per share for the quarter, beating 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 business had revenue of $250.80 million for the quarter, compared to analysts’ expectations of $239.89 million. During the same quarter in the prior year, the business earned $0.72 EPS. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. equities analysts expect that Ubiquiti Networks will post 1.93 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: “Ubiquiti Networks (UBNT) to Repurchase $200.00 million in Outstanding Shares” was posted by The Lincolnian Online and is the property of of The Lincolnian Online. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark law. The correct version of this piece can be viewed at https://www.thelincolnianonline.com/2018/03/19/ubiquiti-networks-ubnt-to-repurchase-200-00-million-in-outstanding-shares.html.
About Ubiquiti Networks
Ubiquiti Networks, Inc develops networking technology for service providers, enterprises, and consumers worldwide. The company's service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, and other complimentary WLAN products.
Receive News & Ratings for Ubiquiti Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ubiquiti Networks and related companies with MarketBeat.com's FREE daily email newsletter.