Analysts predict that Universal Display Co. (NASDAQ:OLED) will report earnings per share of $0.31 for the current quarter, Zacks reports. Three analysts have made estimates for Universal Display’s earnings. The highest EPS estimate is $0.38 and the lowest is $0.21. Universal Display posted earnings of $0.13 per share in the same quarter last year, which would suggest a positive year over year growth rate of 138.5%. The business is expected to issue its next quarterly earnings results after the market closes on Thursday, May 2nd.
On average, analysts expect that Universal Display will report full year earnings of $2.18 per share for the current fiscal year, with EPS estimates ranging from $1.85 to $2.79. For the next fiscal year, analysts forecast that the firm will post earnings of $3.60 per share, with EPS estimates ranging from $2.90 to $4.04. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Universal Display.
Universal Display (NASDAQ:OLED) last released its quarterly earnings data on Thursday, February 21st. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The firm had revenue of $70.14 million for the quarter, compared to analysts’ expectations of $70.18 million. Universal Display had a net margin of 23.78% and a return on equity of 8.85%. The company’s revenue for the quarter was down 39.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.93 earnings per share.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Universal Display from a “hold” rating to a “buy” rating and set a $174.00 target price on the stock in a research note on Tuesday, March 26th. ValuEngine raised shares of Universal Display from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 5th. Roth Capital lifted their target price on shares of Universal Display from $128.00 to $172.00 and gave the company a “buy” rating in a research note on Tuesday, February 26th. Needham & Company LLC lifted their target price on shares of Universal Display from $105.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, February 22nd. Finally, Deutsche Bank lifted their target price on shares of Universal Display to $140.00 in a research note on Friday, February 22nd. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Universal Display has a consensus rating of “Buy” and an average price target of $148.80.
In related news, Director Lawrence Lacerte sold 6,250 shares of the business’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $145.52, for a total transaction of $909,500.00. Following the sale, the director now owns 325,000 shares of the company’s stock, valued at $47,294,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Julia J. Brown sold 17,539 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $160.00, for a total transaction of $2,806,240.00. Following the sale, the insider now directly owns 125,657 shares in the company, valued at approximately $20,105,120. The disclosure for this sale can be found here. Insiders have sold 25,039 shares of company stock worth $3,907,465 in the last three months. 4.00% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of OLED. Comerica Bank bought a new stake in Universal Display during the third quarter worth about $290,000. JPMorgan Chase & Co. boosted its stake in Universal Display by 29.1% during the third quarter. JPMorgan Chase & Co. now owns 1,023,098 shares of the semiconductor company’s stock worth $120,623,000 after acquiring an additional 230,534 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Universal Display by 32.0% during the third quarter. PNC Financial Services Group Inc. now owns 5,849 shares of the semiconductor company’s stock worth $690,000 after acquiring an additional 1,417 shares in the last quarter. BlackRock Inc. boosted its stake in Universal Display by 0.7% during the third quarter. BlackRock Inc. now owns 1,800,372 shares of the semiconductor company’s stock worth $212,264,000 after acquiring an additional 13,294 shares in the last quarter. Finally, Allianz Asset Management GmbH bought a new stake in Universal Display during the third quarter worth about $4,176,000. 85.45% of the stock is currently owned by institutional investors and hedge funds.
Shares of OLED traded up $2.07 during trading hours on Wednesday, reaching $172.64. 536,230 shares of the company traded hands, compared to its average volume of 804,734. The firm has a market capitalization of $8.07 billion, a price-to-earnings ratio of 139.23, a PEG ratio of 2.57 and a beta of 1.44. Universal Display has a 12 month low of $78.75 and a 12 month high of $173.45.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.40 annualized dividend and a yield of 0.23%. This is a positive change from Universal Display’s previous quarterly dividend of $0.06. Universal Display’s payout ratio is presently 32.26%.
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 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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