Universal Display Co. (OLED) Expected to Announce Quarterly Sales of $55.36 Million

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.

How to Become a New Pot Stock Millionaire

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%.

ILLEGAL ACTIVITY NOTICE: “Universal Display Co. (OLED) Expected to Announce Quarterly Sales of $55.36 Million” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece of content on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright law. The correct version of this piece of content can be read at https://ledgergazette.com/2018/04/19/universal-display-co-oled-expected-to-announce-quarterly-sales-of-55-36-million.html.

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.

Get a free copy of the Zacks research report on Universal Display (OLED)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Universal Display (NASDAQ:OLED)

Receive News & Ratings for Universal Display Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Display and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply