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

Ubiquiti Inc. (NYSE:UI - Get Free Report) declared a quarterly dividend on Monday, May 12th, Wall Street Journal reports. Investors 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 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Monday, May 19th.

Ubiquiti has increased its dividend by an average of 6.3% annually over the last three years. Ubiquiti has a payout ratio of 28.7% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Ubiquiti stock traded up $19.23 during trading on Monday, reaching $432.75. The company's stock had a trading volume of 184,152 shares, compared to its average volume of 81,864. The stock has a 50-day moving average price of $315.01 and a two-hundred day moving average price of $336.19. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 1.31. Ubiquiti has a one year low of $128.07 and a one year high of $469.98. The stock has a market capitalization of $26.18 billion, a P/E ratio of 58.80 and a beta of 1.32.

Ubiquiti (NYSE:UI - Get Free Report) last released its quarterly earnings results on Friday, February 14th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 in the previous year, the business earned $1.36 earnings per share. As a group, sell-side analysts anticipate that Ubiquiti will post 7.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Kevin Radigan sold 1,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $347.99, for a total value of $347,990.00. Following the completion of the sale, the chief accounting officer now owns 2,484 shares of the company's stock, valued at approximately $864,407.16. This represents a 28.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 93.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on UI shares. Barclays dropped their price objective on Ubiquiti from $236.00 to $222.00 and set an "underweight" rating for the company in a report on Monday, February 10th. BWS Financial reaffirmed a "buy" rating and issued a $440.00 price target on shares of Ubiquiti in a research note on Monday.

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.

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