Universal Display Corporation (OLED) to Issue Quarterly Dividend of $0.50 on September 30th

Universal Display Corporation (NASDAQ:OLED) announced a quarterly dividend on Tuesday, July 28th. Investors of record on Wednesday, September 16th will be given a dividend of 0.50 per share by the semiconductor company on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, September 16th.

Universal Display has raised its dividend by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 8 years. Universal Display has a dividend payout ratio of 35.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Universal Display to earn $4.81 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 41.6%.

Universal Display Stock Performance

Shares of NASDAQ OLED opened at $83.56 on Monday. The stock has a 50 day moving average price of $83.49 and a 200 day moving average price of $89.90. The stock has a market capitalization of $3.84 billion, a PE ratio of 20.23 and a beta of 1.56. Universal Display has a 52 week low of $76.42 and a 52 week high of $153.38.

Universal Display (NASDAQ:OLED) last announced its quarterly earnings data on Thursday, July 30th. The semiconductor company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.03. Universal Display had a return on equity of 11.35% and a net margin of 32.24%.The company had revenue of $152.16 million for the quarter, compared to analysts’ expectations of $157.54 million. During the same quarter in the prior year, the business posted $1.41 EPS. The business’s revenue was down 11.4% compared to the same quarter last year. As a group, research analysts forecast that Universal Display will post 4.17 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on OLED. Susquehanna cut their price target on shares of Universal Display from $110.00 to $90.00 and set a “neutral” rating for the company in a research note on Friday, July 31st. Needham & Company LLC lowered their price target on Universal Display from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. Weiss Ratings lowered Universal Display from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 28th. Oppenheimer reiterated an “outperform” rating and set a $120.00 target price (down from $130.00) on shares of Universal Display in a research note on Friday, July 31st. Finally, BTIG Research cut Universal Display to a “neutral” rating in a research note on Friday, July 31st. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $116.33.

About Universal Display

Universal Display Corporation (NASDAQ: OLED) develops and commercializes organic light-emitting diode (OLED) technologies and materials. The company’s business is centered on high-efficiency phosphorescent OLED (PHOLED) technology, which is designed to improve the performance and energy efficiency of OLED displays and lighting products.

Universal Display supplies OLED emitter materials and other related products to manufacturers and provides technology licenses, technical assistance and support under agreements covering its intellectual property.