Ubiquiti jumps on bumper dividend hike, robust results

Ubiquiti

27/08/2021 13:14

** Shares of network infrastructure company  UI.N  up 7.2%
premarket to a near 5-month high at $322.18 
    ** Co raises dividend by 50% to $0.60 per share from $0.40
and reports Q4 earnings per share of $2.47, beating Refinitiv
IBES est of $2.34  urn:newsml:reuters.com:*:nBw6YzP7Wa
    ** Intends to pay regular cash dividend of at least $0.60
per share during each quarter of fiscal year 2022   
    ** Reports a 51.5% y/y increase in Q4 rev to $477.9 mln,
higher than est of $463.96 mln
    ** Ubiquiti has beat earnings and rev estimates in the past
six consecutive quarters
    ** One of four brokerages rate the stock "buy" or higher and
three "sell" or lower; their median PT is $286.50
    ** Up to Thursday's close, stock up ~8% YTD, underperforming
higher gains in peers Cisco Systems  CSCO.O , Cambium Networks
 CMBM.O  and Ceragon Networks  CRNT.O 

 (Reporting by Shashank Nayar in Bengaluru)
 ((Shashank.Nayar@thomsonreuters.com;))