Ubiquiti Networks (NASDAQ:UBNT) issued its quarterly earnings results on Thursday. The Wireless communications provider reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.06, Bloomberg Earnings reports. The business had revenue of $250.80 million for the quarter, compared to analyst estimates of $239.89 million. Ubiquiti Networks had a return on equity of 45.45% and a net margin of 28.76%. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.72 earnings per share. Ubiquiti Networks updated its Q3 guidance to $0.92-0.99 EPS.

Ubiquiti Networks (UBNT) traded up $3.09 during midday trading on Friday, reaching $70.55. The company had a trading volume of 802,643 shares, compared to its average volume of 391,173. The company has a market capitalization of $5,360.00, a P/E ratio of 39.86, a PEG ratio of 1.33 and a beta of 0.58. Ubiquiti Networks has a fifty-two week low of $45.71 and a fifty-two week high of $82.30.

A number of research firms recently commented on UBNT. Deutsche Bank upped their price objective on Ubiquiti Networks from $47.00 to $55.00 and gave the company a “hold” rating in a report on Friday. BMO Capital Markets upped their price objective on Ubiquiti Networks from $60.00 to $63.00 and gave the company a “market perform” rating in a report on Friday. Vetr upgraded Ubiquiti Networks from a “sell” rating to a “hold” rating and set a $74.74 price objective for the company in a report on Monday. BidaskClub downgraded Ubiquiti Networks from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 2nd. Finally, ValuEngine upgraded Ubiquiti Networks from a “hold” rating to a “buy” rating in a report on Friday, November 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a strong buy rating to the company’s stock. Ubiquiti Networks presently has an average rating of “Hold” and a consensus price target of $65.75.

Ubiquiti Networks announced that its board has approved a share repurchase plan on Thursday, November 9th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the Wireless communications provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Institutional investors have recently made changes to their positions in the business. Public Employees Retirement Association of Colorado bought a new stake in shares of Ubiquiti Networks in the fourth quarter worth about $104,000. PNC Financial Services Group Inc. increased its holdings in shares of Ubiquiti Networks by 4.3% in the second quarter. PNC Financial Services Group Inc. now owns 1,958 shares of the Wireless communications provider’s stock worth $102,000 after acquiring an additional 80 shares in the last quarter. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Ubiquiti Networks in the third quarter worth about $178,000. Aperio Group LLC bought a new stake in shares of Ubiquiti Networks in the fourth quarter worth about $251,000. Finally, Brown Advisory Inc. bought a new stake in shares of Ubiquiti Networks in the third quarter worth about $211,000. Institutional investors own 33.48% of the company’s stock.

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About Ubiquiti Networks

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.

Earnings History for Ubiquiti Networks (NASDAQ:UBNT)

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