Zacks: Brokerages Expect Universal Display Corporation (OLED) Will Announce Earnings of $0.09 Per Share
Analysts expect Universal Display Corporation (NASDAQ:OLED) to announce earnings of $0.09 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Universal Display Corporation’s earnings, with the highest EPS estimate coming in at $0.10 and the lowest estimate coming in at $0.08. Universal Display Corporation posted earnings per share of ($0.03) in the same quarter last year, which indicates a positive year over year growth rate of 400%. The company is expected to announce its next earnings results on Thursday, November 2nd.
On average, analysts expect that Universal Display Corporation will report full year earnings of $2.09 per share for the current year, with EPS estimates ranging from $2.05 to $2.11. For the next financial year, analysts forecast that the business will post earnings of $2.79 per share, with EPS estimates ranging from $2.47 to $3.00. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Universal Display Corporation.
Universal Display Corporation (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.31. The business had revenue of $102.50 million during the quarter, compared to analysts’ expectations of $84.81 million. Universal Display Corporation had a net margin of 31.15% and a return on equity of 14.90%. The business’s quarterly revenue was up 59.2% on a year-over-year basis. During the same period last year, the company posted $0.46 earnings per share.
A number of brokerages have issued reports on OLED. Susquehanna Bancshares Inc reissued a “positive” rating and set a $150.00 price objective (up from $120.00) on shares of Universal Display Corporation in a research report on Wednesday, August 9th. BidaskClub downgraded shares of Universal Display Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 17th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $150.00 target price (up from $140.00) on shares of Universal Display Corporation in a research report on Wednesday, August 9th. Deutsche Bank AG began coverage on shares of Universal Display Corporation in a research report on Wednesday, August 30th. They issued a “buy” rating and a $135.00 target price on the stock. Finally, Zacks Investment Research raised shares of Universal Display Corporation from a “hold” rating to a “strong-buy” rating and set a $136.00 target price on the stock in a research report on Thursday, August 10th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $121.11.
Universal Display Corporation (NASDAQ:OLED) traded down 1.75% on Thursday, hitting $126.05. 432,582 shares of the company’s stock were exchanged. Universal Display Corporation has a 52-week low of $47.88 and a 52-week high of $145.30. The stock has a market cap of $5.93 billion, a P/E ratio of 73.07 and a beta of 1.04. The firm has a 50 day moving average price of $124.99 and a 200-day moving average price of $111.37.
The firm also recently announced a quarterly dividend, which was paid on Saturday, September 30th. Stockholders of record on Friday, September 15th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date of this dividend was Thursday, September 14th. Universal Display Corporation’s dividend payout ratio is presently 6.94%.
In related news, insider Julia J. Brown sold 10,000 shares of the stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the sale, the insider now directly owns 162,932 shares of the company’s stock, valued at approximately $20,366,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven V. Abramson sold 18,000 shares of the stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $124.53, for a total transaction of $2,241,540.00. Following the sale, the chief executive officer now directly owns 262,888 shares in the company, valued at $32,737,442.64. The disclosure for this sale can be found here. Insiders have sold a total of 78,240 shares of company stock worth $10,274,945 over the last three months. 5.20% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE grew its position in Universal Display Corporation by 33.4% during the 1st quarter. Bank of America Corp DE now owns 72,951 shares of the semiconductor company’s stock valued at $6,281,000 after purchasing an additional 18,272 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Universal Display Corporation during the 1st quarter valued at about $792,000. BKS Advisors LLC purchased a new stake in Universal Display Corporation during the 2nd quarter valued at about $2,318,000. Westwood Management Corp IL grew its position in Universal Display Corporation by 70.0% during the 2nd quarter. Westwood Management Corp IL now owns 17,000 shares of the semiconductor company’s stock valued at $1,857,000 after purchasing an additional 7,000 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its position in Universal Display Corporation by 18.2% during the 2nd quarter. Neuberger Berman Group LLC now owns 606,472 shares of the semiconductor company’s stock valued at $66,257,000 after purchasing an additional 93,223 shares during the last quarter. 64.09% of the stock is currently owned by institutional investors.
About Universal Display Corporation
Universal Display Corporation is engaged in the research, development and commercialization of organic light emitting diode (OLED), technologies and materials for use in display and solid-state lighting applications. The Company also supplies its OLED materials to manufacturers of OLED displays and lighting products for evaluation and for use in product development and for pre-commercial activities, and it also provides technical assistance and support to these manufacturers.
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