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

Ubiquiti Inc. (NYSE:UI - Get Free Report) declared a quarterly dividend on Friday, May 10th, Zacks reports. Shareholders of record on Monday, May 20th will be paid a dividend of 0.60 per share on Tuesday, May 28th. This represents a $2.40 annualized dividend and a yield of 1.89%. The ex-dividend date is Friday, May 17th.

Ubiquiti has increased its dividend payment by an average of 19.7% annually over the last three years. Ubiquiti has a dividend payout ratio of 27.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Ubiquiti to earn $6.94 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 34.6%.

Ubiquiti Stock Up 9.0 %

Ubiquiti stock traded up $10.50 during mid-day trading on Friday, hitting $127.19. The company had a trading volume of 197,128 shares, compared to its average volume of 78,872. The stock has a market cap of $7.69 billion, a price-to-earnings ratio of 20.65 and a beta of 1.22. Ubiquiti has a 1 year low of $103.00 and a 1 year high of $189.52. The business has a fifty day moving average of $111.77 and a 200 day moving average of $119.87.

Ubiquiti (NYSE:UI - Get Free Report) last posted its quarterly earnings data on Friday, February 9th. The company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.57). The firm had revenue of $464.95 million during the quarter, compared to analyst estimates of $488.56 million. Ubiquiti had a net margin of 19.83% and a negative return on equity of 392.74%. Equities analysts anticipate that Ubiquiti will post 6.5 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on UI shares. BWS Financial reissued a "buy" rating and issued a $160.00 price objective on shares of Ubiquiti in a report on Monday, April 8th. Barclays decreased their price target on Ubiquiti from $105.00 to $93.00 and set an "underweight" rating for the company in a report on Monday, February 12th. Finally, StockNews.com raised Ubiquiti from a "sell" rating to a "hold" rating in a report on Thursday, April 18th.

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.