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

Ubiquiti Inc. (NYSE:UI) declared a quarterly dividend on Friday, August 23rd, NASDAQ reports. Investors of record on Tuesday, September 3rd will be given a dividend of 0.60 per share on Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Tuesday, September 3rd.

Ubiquiti has increased its dividend by an average of 19.7% annually over the last three years. Ubiquiti has a payout ratio of 27.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Ubiquiti to earn $6.36 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 37.7%.

Ubiquiti Stock Performance

NYSE UI opened at $193.88 on Friday. The firm has a 50-day moving average price of $163.60 and a two-hundred day moving average price of $137.06. Ubiquiti has a 12-month low of $103.00 and a 12-month high of $194.59. The company has a market capitalization of $11.72 billion, a P/E ratio of 33.49 and a beta of 1.18. The company has a quick ratio of 1.84, a current ratio of 3.95 and a debt-to-equity ratio of 32.43.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on UI shares. Barclays increased their price target on Ubiquiti from $93.00 to $108.00 and gave the stock an “underweight” rating in a research report on Monday, May 13th. BWS Financial reissued a “buy” rating and set a $160.00 target price on shares of Ubiquiti in a report on Monday, July 8th.

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.