Ubiquiti Inc. to Issue Quarterly Dividend of $0.80 (NYSE:UI)

Ubiquiti Inc. (NYSE:UI) announced a quarterly dividend on Friday, November 7th. Investors of record on Monday, November 17th will be given a dividend of 0.80 per share on Monday, November 24th. This represents a c) dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, November 17th.

Ubiquiti has raised its dividend by an average of 0.1%annually over the last three years. Ubiquiti has a dividend payout ratio of 34.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ubiquiti to earn $8.10 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 39.5%.

Ubiquiti Stock Down 19.4%

NYSE UI traded down $147.07 during trading hours on Friday, hitting $612.50. The company’s stock had a trading volume of 381,186 shares, compared to its average volume of 133,130. Ubiquiti has a twelve month low of $255.00 and a twelve month high of $803.59. The firm has a market capitalization of $37.06 billion, a P/E ratio of 52.04 and a beta of 1.50. The stock has a fifty day moving average of $670.09 and a 200 day moving average of $499.55.

Ubiquiti (NYSE:UI) last issued its earnings results on Friday, August 22nd. The company reported $3.54 EPS for the quarter, beating the consensus estimate of $2.23 by $1.31. The company had revenue of $759.15 million during the quarter, compared to analysts’ expectations of $618.80 million. Ubiquiti had a net margin of 27.66% and a return on equity of 166.22%. During the same quarter in the previous year, the company posted $1.74 EPS. On average, analysts predict that Ubiquiti will post 7.21 earnings per share for the current year.

Hedge Funds Weigh In On Ubiquiti

Several hedge funds have recently made changes to their positions in UI. Exchange Traded Concepts LLC increased its stake in Ubiquiti by 31.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 76 shares of the company’s stock valued at $50,000 after buying an additional 18 shares during the last quarter. Brooklyn Investment Group lifted its position in shares of Ubiquiti by 78.8% in the first quarter. Brooklyn Investment Group now owns 93 shares of the company’s stock valued at $29,000 after buying an additional 41 shares during the last quarter. Cullen Frost Bankers Inc. boosted its position in Ubiquiti by 1,075.0% during the second quarter. Cullen Frost Bankers Inc. now owns 94 shares of the company’s stock worth $39,000 after purchasing an additional 86 shares during the period. Main Street Group LTD acquired a new position in Ubiquiti in the 2nd quarter valued at about $41,000. Finally, Westside Investment Management Inc. increased its stake in shares of Ubiquiti by 100.0% during the third quarter. Westside Investment Management Inc. now owns 102 shares of the company’s stock worth $69,000 after purchasing an additional 51 shares during the period. 4.00% of the stock is owned by institutional investors.

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.