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

Ubiquiti Inc. (NYSE:UI) declared a quarterly dividend on Monday, May 12th, Wall Street Journal reports. Shareholders of record on Monday, May 19th will be given a dividend of 0.60 per share on Tuesday, May 27th. This represents a $2.40 annualized dividend and a yield of 0.55%. The ex-dividend date is Monday, May 19th.

Ubiquiti has increased its dividend payment by an average of 6.3% per year over the last three years. Ubiquiti has a 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 Price Performance

Shares of NYSE UI traded up $19.23 during mid-day trading on Monday, reaching $432.75. The company had a trading volume of 184,152 shares, compared to its average volume of 81,864. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.98 and a current ratio of 2.22. Ubiquiti has a one year low of $128.07 and a one year high of $469.98. The firm has a market cap of $26.18 billion, a price-to-earnings ratio of 58.80 and a beta of 1.32. The business’s 50-day simple moving average is $315.01 and its 200 day simple moving average is $336.19.

Ubiquiti (NYSE:UI) last released its quarterly earnings data on Friday, February 14th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.12. Ubiquiti had a return on equity of 296.82% and a net margin of 20.68%. During the same period last year, the firm earned $1.36 EPS. On average, research analysts predict that Ubiquiti will post 7.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

UI has been the topic of several research analyst reports. Barclays reduced their price objective on Ubiquiti from $236.00 to $222.00 and set an “underweight” rating on the stock in a research note on Monday, February 10th. BWS Financial reaffirmed a “buy” rating and issued a $440.00 price objective on shares of Ubiquiti in a research note on Monday.

Insider Activity

In other news, CAO Kevin Radigan sold 1,000 shares of Ubiquiti 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 of the company’s stock, valued at approximately $864,407.16. This trade represents a 28.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 93.10% of the company’s stock.

Ubiquiti Company Profile

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.