Ultimate Products (LON:ULTP) Issues Quarterly Earnings Results

Ultimate Products (LON:ULTP) released its quarterly earnings results on Tuesday. The company reported GBX 4.30 ($0.06) earnings per share 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

Shares of LON ULTP traded up GBX 2.70 ($0.03) during mid-day trading on Thursday, reaching GBX 74.60 ($0.96). The company had a trading volume of 42,775 shares, compared to its average volume of 165,247. The firm has a market cap of £63.30 million, a price-to-earnings ratio of 6.12 and a beta of 1.39. The business’s 50-day simple moving average is GBX 87.73 and its 200 day simple moving average is GBX 113.72. Ultimate Products has a one year low of GBX 71 ($0.91) and a one year high of GBX 185.50 ($2.39).

Ultimate Products Cuts Dividend

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

Analyst Upgrades and Downgrades

ULTP has been the subject of a number of research reports. Canaccord Genuity Group reissued a “buy” rating and set a GBX 130 ($1.67) target price on shares of Ultimate Products in a report on Tuesday. Shore Capital reiterated a “house stock” rating on shares of Ultimate Products in a research note on Tuesday.

Ultimate Products Company Profile

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.