Brokerages expect that Universal Display Co. (NASDAQ:OLED) will report sales of $55.36 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Universal Display’s earnings, with the lowest sales estimate coming in at $52.00 million and the highest estimate coming in at $58.72 million. Universal Display posted sales of $55.57 million during the same quarter last year, which would indicate a negative year over year growth rate of 0.4%. The company is expected to issue its next quarterly earnings results 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 fiscal year, with estimates ranging from $363.00 million to $370.00 million. For the next year, analysts forecast 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 calculations are an average based on a survey of analysts that follow Universal Display.
Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, February 22nd. The semiconductor company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.82 by $0.11. Universal Display had a return on equity of 18.80% and a net margin of 30.95%. The business had revenue of $115.87 million during the quarter, compared to analysts’ expectations of $99.55 million. During the same quarter last year, the firm posted $0.55 earnings per share. The firm’s revenue was up 55.3% on a year-over-year basis.
OLED has been the subject of several recent analyst reports. Zacks Investment Research raised Universal Display from a “hold” rating to a “buy” rating and set a $195.00 target price for the company in a research note on Thursday, January 4th. Deutsche Bank reaffirmed a “buy” rating and set a $190.00 target price on shares of Universal Display in a research note on Thursday, January 25th. Cowen set a $225.00 target price on Universal Display and gave the stock a “buy” rating in a research note on Tuesday, February 20th. 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 research note on Tuesday, February 20th. They noted that the move was a valuation call. Finally, Gabelli raised Universal Display from a “hold” rating to a “buy” rating in a research note on Tuesday, March 20th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $165.58.
In other Universal Display news, Director Richard C. Elias sold 2,250 shares of the 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Elizabeth H. Gemmill sold 2,500 shares of the 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 disclosure for this sale can be found here. 5.20% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in OLED. US Bancorp DE boosted its holdings in Universal Display by 4,188.2% in the fourth quarter. US Bancorp DE now owns 729 shares of the semiconductor company’s stock worth $126,000 after acquiring an additional 712 shares in the last quarter. Cerebellum GP LLC bought a new position in shares of Universal Display in the fourth quarter valued at approximately $129,000. Aevitas Wealth Management Inc. bought a new position in shares of Universal Display in the fourth quarter valued at approximately $165,000. Glassman Wealth Services lifted its holdings in shares of Universal Display by 60.7% in the fourth quarter. Glassman Wealth Services now owns 961 shares of the semiconductor company’s stock valued at $166,000 after purchasing an additional 363 shares in the last quarter. Finally, American International Group Inc. bought a new position in shares of Universal Display in the fourth quarter valued at approximately $170,000. Institutional investors and hedge funds own 63.07% of the company’s stock.
NASDAQ OLED opened at $99.30 on Thursday. Universal Display has a one year low of $81.70 and a one year high of $209.00. The company has a market cap of $4,647.88, a P/E ratio of 40.86 and a beta of 1.31.
The company also recently declared a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Thursday, March 15th were issued a $0.06 dividend. The ex-dividend date was Wednesday, March 14th. This represents a $0.24 annualized dividend and a yield of 0.24%. This is a positive change from Universal Display’s previous quarterly dividend of $0.03. Universal Display’s dividend payout ratio is presently 9.88%.
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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 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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