Universal Display (NASDAQ:OLED) Posts Earnings Results, Beats Expectations By $0.14 EPS

Universal Display (NASDAQ:OLED) issued its quarterly earnings results on Thursday. The semiconductor company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.05 by $0.14, Briefing.com reports. The firm had revenue of $165.26 million during the quarter, compared to analysts’ expectations of $150.75 million. Universal Display had a return on equity of 14.85% and a net margin of 35.22%. The firm’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.83 earnings per share.

Universal Display Stock Up 9.3 %

NASDAQ:OLED traded up $14.50 on Friday, hitting $170.82. The stock had a trading volume of 736,271 shares, compared to its average volume of 288,423. The stock has a market cap of $8.10 billion, a price-to-earnings ratio of 40.29, a PEG ratio of 1.66 and a beta of 1.44. The company has a fifty day moving average price of $163.30 and a two-hundred day moving average price of $168.95. Universal Display has a 1-year low of $131.00 and a 1-year high of $194.84.

Universal Display Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.94%. This is a positive change from Universal Display’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, March 14th. Universal Display’s payout ratio is presently 37.74%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on OLED. Citigroup reiterated a “neutral” rating and issued a $180.00 target price (up from $161.00) on shares of Universal Display in a research report on Friday, January 19th. Needham & Company LLC restated a “buy” rating and set a $198.00 price target on shares of Universal Display in a research report on Friday. TD Cowen boosted their price target on shares of Universal Display from $165.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Finally, Oppenheimer restated an “outperform” rating and set a $200.00 price target (down from $210.00) on shares of Universal Display in a research report on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Universal Display presently has a consensus rating of “Moderate Buy” and an average price target of $199.86.

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 display and solid-state lighting applications in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.