Ultimate Products (LON:ULTP) Announces Quarterly Earnings Results

Ultimate Products (LON:ULTP) announced its quarterly earnings results on Tuesday. The company reported GBX 4.30 ($0.06) earnings per share (EPS) for the quarter, Digital Look Earnings reports. Ultimate Products had a return on equity of 21.95% and a net margin of 6.77%.

Ultimate Products Stock Performance

LON:ULTP traded up GBX 2.70 ($0.03) during mid-day trading on Thursday, hitting GBX 74.60 ($0.96). 42,775 shares of the company’s stock traded hands, compared to its average volume of 165,247. The company has a fifty day moving average of GBX 87.73 and a 200 day moving average of GBX 113.72. Ultimate Products has a twelve month low of GBX 71 ($0.91) and a twelve month high of GBX 185.50 ($2.39). The company has a market capitalization of £63.30 million, a P/E ratio of 6.12 and a beta of 1.39.

Ultimate Products Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, June 27th. Investors of record on Thursday, May 29th will be paid a dividend of GBX 1.55 ($0.02) per share. The ex-dividend date is Thursday, May 29th. This represents a yield of 2.16%. Ultimate Products’s dividend payout ratio (DPR) is 57.44%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ULTP. Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 130 ($1.67) price objective on shares of Ultimate Products in a research report on Tuesday. Shore Capital restated a “house stock” rating on shares of Ultimate Products in a report on Tuesday.

About Ultimate Products

Ultimate Products is the owner of a number of leading homeware brands including Salter (the UK’s oldest houseware brand, established in 1760) and Beldray (a laundry, floor care, heating and cooling brand that was established in 1872). According to its market research, nearly 80% of UK households own at least one of the Group’s products.

Ultimate Products sells to over 300 retailers across 38 countries, and specialises in five product categories: Small Domestic Appliances; Housewares; Laundry; Audio; and Heating and Cooling.