Analysts Anticipate Universal Display Co. (NASDAQ:OLED) to Announce $0.46 Earnings Per Share

Brokerages forecast that Universal Display Co. (NASDAQ:OLED) will announce earnings of $0.46 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Universal Display’s earnings. The highest EPS estimate is $0.50 and the lowest is $0.43. Universal Display reported earnings per share of $0.23 during the same quarter last year, which would suggest a positive year-over-year growth rate of 100%. The company is expected to issue its next quarterly earnings report after the market closes on Thursday, August 8th.

According to Zacks, analysts expect that Universal Display will report full-year earnings of $2.44 per share for the current year, with EPS estimates ranging from $2.30 to $2.61. For the next year, analysts anticipate that the business will report earnings of $3.65 per share, with EPS estimates ranging from $3.30 to $3.97. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover Universal Display.

Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.40. Universal Display had a return on equity of 12.35% and a net margin of 28.93%. The business had revenue of $87.80 million during the quarter, compared to analyst estimates of $64.59 million. During the same quarter in the previous year, the firm posted $0.13 EPS. The business’s revenue for the quarter was up 101.4% compared to the same quarter last year.

OLED has been the subject of a number of analyst reports. Citigroup restated a “buy” rating on shares of Healthequity in a research report on Friday, May 10th. Susquehanna Bancshares restated a “neutral” rating and set a $180.00 price objective on shares of Universal Display in a research report on Monday, April 29th. Roth Capital set a $194.00 price objective on Universal Display and gave the company a “buy” rating in a research report on Friday, May 3rd. Oppenheimer boosted their price objective on Costco Wholesale from $270.00 to $295.00 in a research report on Wednesday, July 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $210.00 price objective (up previously from $200.00) on shares of Universal Display in a research report on Friday. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. Universal Display presently has an average rating of “Buy” and an average target price of $168.22.

NASDAQ:OLED traded up $3.50 during midday trading on Wednesday, reaching $203.12. 17,371 shares of the company traded hands, compared to its average volume of 572,588. Universal Display has a twelve month low of $78.78 and a twelve month high of $201.23. The stock has a market capitalization of $9.56 billion, a price-to-earnings ratio of 163.42, a price-to-earnings-growth ratio of 2.72 and a beta of 1.54. The firm has a fifty day moving average of $173.39.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.40 dividend on an annualized basis and a yield of 0.20%. Universal Display’s dividend payout ratio (DPR) is presently 32.26%.

In other Universal Display news, VP Janice K. Mahon sold 20,819 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $170.24, for a total transaction of $3,544,226.56. Following the completion of the transaction, the vice president now owns 37,039 shares in the company, valued at approximately $6,305,519.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven V. Abramson sold 30,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $179.64, for a total value of $5,389,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 110,750 shares of company stock valued at $19,581,068 in the last quarter. 3.70% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in OLED. Meridian Wealth Management LLC acquired a new stake in shares of Universal Display in the first quarter valued at $31,000. Sontag Advisory LLC acquired a new stake in shares of Universal Display in the fourth quarter valued at $37,000. Weaver Consulting Group acquired a new stake in shares of Universal Display in the first quarter valued at $39,000. Regal Investment Advisors LLC acquired a new stake in shares of Universal Display in the first quarter valued at $50,000. Finally, Pearl River Capital LLC lifted its holdings in shares of Universal Display by 251.4% in the first quarter. Pearl River Capital LLC now owns 390 shares of the semiconductor company’s stock valued at $60,000 after buying an additional 279 shares during the period. Institutional investors and hedge funds own 76.16% of the company’s stock.

About Universal Display

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 21, 2019, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 5,000 issued and pending patents worldwide.

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