Brokerages expect that Universal Display Co. (NASDAQ:OLED) will report $55.36 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Universal Display’s earnings. The lowest sales estimate is $52.00 million and the highest is $58.72 million. Universal Display reported sales of $55.57 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 0.4%. The firm is expected to announce its next quarterly earnings report after the market closes on Thursday, May 3rd.
On average, analysts expect that Universal Display will report full year sales of $366.10 million for the current year, with estimates ranging from $363.00 million to $370.00 million. For the next fiscal year, analysts expect that the firm will post sales of $473.40 million per share, with estimates ranging from $443.00 million to $532.81 million. Zacks’ sales averages are an average based on a survey of analysts that follow Universal Display.
Universal Display (NASDAQ:OLED) last issued its earnings results on Thursday, February 22nd. The semiconductor company reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.11. The company had revenue of $115.87 million during the quarter, compared to analysts’ expectations of $99.55 million. Universal Display had a return on equity of 18.80% and a net margin of 30.95%. The firm’s quarterly revenue was up 55.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.55 EPS.
Several brokerages recently issued reports on OLED. Zacks Investment Research cut Universal Display from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Gabelli raised Universal Display from a “hold” rating to a “buy” rating in a report on Tuesday, March 20th. Oppenheimer raised Universal Display from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a report on Friday, April 6th. BidaskClub lowered Universal Display from a “hold” rating to a “sell” rating in a report on Friday, January 26th. Finally, Needham & Company LLC raised Universal Display from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a report on Tuesday, February 20th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. Universal Display currently has a consensus rating of “Hold” and an average price target of $165.58.
In other Universal Display news, Director Elizabeth H. Gemmill sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $124.07, for a total value of $310,175.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard C. Elias sold 2,250 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $129.60, for a total value of $291,600.00. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE lifted its stake in Universal Display by 4,188.2% during the 4th quarter. US Bancorp DE now owns 729 shares of the semiconductor company’s stock valued at $126,000 after acquiring an additional 712 shares during the period. Cerebellum GP LLC bought a new position in shares of Universal Display in the 4th quarter worth approximately $129,000. Aevitas Wealth Management Inc. bought a new position in shares of Universal Display in the 4th quarter worth approximately $165,000. Glassman Wealth Services lifted its stake in shares of Universal Display by 60.7% in the 4th quarter. Glassman Wealth Services now owns 961 shares of the semiconductor company’s stock worth $166,000 after purchasing an additional 363 shares during the period. Finally, American International Group Inc. bought a new position in shares of Universal Display in the 4th quarter worth approximately $170,000. Hedge funds and other institutional investors own 63.07% of the company’s stock.
Shares of OLED traded down $0.70 during mid-day trading on Thursday, hitting $94.05. The company’s stock had a trading volume of 919,074 shares, compared to its average volume of 1,101,087. The stock has a market capitalization of $4,433.42, a P/E ratio of 38.70 and a beta of 1.31. Universal Display has a 1-year low of $84.55 and a 1-year high of $209.00.
The company also recently announced a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Thursday, March 15th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.26%. This is an increase from Universal Display’s previous quarterly dividend of $0.03. The ex-dividend date was Wednesday, March 14th. Universal Display’s dividend payout ratio is 9.88%.
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Universal Display Company Profile
Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in flat panel displays and solid-state lighting applications. As of February 22, 2018, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 4,500 issued and pending patents worldwide.
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