Zacks: Brokerages Expect Universal Display Corporation (OLED) Will Announce Earnings of $0.82 Per Share
Equities analysts expect Universal Display Corporation (NASDAQ:OLED) to post $0.82 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Universal Display’s earnings, with estimates ranging from $0.76 to $0.86. Universal Display posted earnings per share of $0.55 during the same quarter last year, which suggests a positive year-over-year growth rate of 49.1%. The company is expected to announce its next quarterly earnings report on Thursday, February 22nd.
On average, analysts expect that Universal Display will report full year earnings of $2.33 per share for the current financial year, with EPS estimates ranging from $2.28 to $2.37. For the next year, analysts forecast that the company will report earnings of $3.00 per share, with EPS estimates ranging from $2.70 to $3.30. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Universal Display.
Universal Display (NASDAQ:OLED) last posted its earnings results on Thursday, November 2nd. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.19. Universal Display had a return on equity of 16.67% and a net margin of 32.92%. The business had revenue of $61.70 million during the quarter, compared to analysts’ expectations of $47.35 million. During the same period in the prior year, the business earned ($0.03) EPS. Universal Display’s revenue for the quarter was up 104.3% compared to the same quarter last year.
OLED has been the subject of a number of recent research reports. Susquehanna Bancshares reaffirmed a “positive” rating and set a $150.00 price target (up previously from $120.00) on shares of Universal Display in a research report on Wednesday, August 9th. Goldman Sachs Group reaffirmed a “buy” rating and set a $150.00 price target (up previously from $140.00) on shares of Universal Display in a research report on Wednesday, August 9th. BidaskClub raised Universal Display from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Universal Display in a research report on Friday, November 3rd. Finally, Deutsche Bank upped their price target on Universal Display to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $151.30.
Universal Display (OLED) traded down $9.15 during midday trading on Friday, reaching $167.55. The company had a trading volume of 1,543,500 shares, compared to its average volume of 832,094. Universal Display has a twelve month low of $54.20 and a twelve month high of $192.75. The company has a market cap of $7,910.00, a PE ratio of 86.62 and a beta of 1.06.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.07%. The ex-dividend date is Thursday, December 14th. Universal Display’s payout ratio is presently 5.74%.
In other Universal Display news, CFO Sidney D. Rosenblatt sold 50,240 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $135.02, for a total transaction of $6,783,404.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Steven V. Abramson sold 18,744 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $158.40, for a total value of $2,969,049.60. The disclosure for this sale can be found here. In the last three months, insiders sold 196,974 shares of company stock valued at $30,133,174. 5.20% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP bought a new position in Universal Display during the 3rd quarter worth $2,261,000. Belpointe Asset Management LLC bought a new position in Universal Display during the 3rd quarter worth $408,000. Cetera Advisors LLC bought a new position in Universal Display during the 3rd quarter worth $229,000. Neuberger Berman Group LLC increased its position in Universal Display by 17.8% during the 3rd quarter. Neuberger Berman Group LLC now owns 714,223 shares of the semiconductor company’s stock worth $92,028,000 after buying an additional 107,751 shares during the period. Finally, Griffin Asset Management Inc. increased its position in Universal Display by 725.2% during the 3rd quarter. Griffin Asset Management Inc. now owns 41,262 shares of the semiconductor company’s stock worth $5,317,000 after buying an additional 36,262 shares during the period. 65.03% of the stock is owned by institutional investors and hedge funds.
About Universal Display
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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