Wall Street analysts predict that Universal Display Co. (NASDAQ:OLED) will report sales of $48.50 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Universal Display’s earnings. The highest sales estimate is $49.69 million and the lowest is $46.40 million. Universal Display reported sales of $102.51 million during the same quarter last year, which indicates a negative year-over-year growth rate of 52.7%. The firm is scheduled to issue its next earnings report on Thursday, August 2nd.
According to Zacks, analysts expect that Universal Display will report full year sales of $292.10 million for the current year, with estimates ranging from $282.60 million to $300.80 million. For the next year, analysts anticipate that the company will report sales of $432.34 million per share, with estimates ranging from $362.00 million to $479.65 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Universal Display.
Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, May 3rd. The semiconductor company reported $0.13 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.13. Universal Display had a net margin of 30.74% and a return on equity of 17.53%. The company had revenue of $43.57 million during the quarter, compared to the consensus estimate of $50.85 million. During the same quarter in the previous year, the firm earned $0.22 earnings per share. The firm’s quarterly revenue was down 21.6% on a year-over-year basis.
A number of research analysts recently issued reports on OLED shares. Zacks Investment Research downgraded shares of Universal Display from a “hold” rating to a “sell” rating in a research note on Wednesday, February 28th. ValuEngine downgraded shares of Universal Display from a “hold” rating to a “sell” rating in a research report on Wednesday, March 7th. BidaskClub downgraded shares of Universal Display from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 15th. Gabelli upgraded shares of Universal Display from a “hold” rating to a “buy” rating in a research report on Tuesday, March 20th. Finally, Goldman Sachs Group set a $190.00 price objective on shares of Universal Display and gave the stock a “buy” rating in a research report on Tuesday, March 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $170.73.
In related news, Director Rosemarie B. Greco sold 3,750 shares of the company’s stock in a transaction on Thursday, June 7th. The shares were sold at an average price of $98.15, for a total value of $368,062.50. Following the completion of the sale, the director now owns 10,700 shares in the company, valued at approximately $1,050,205. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.00% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. raised its position in Universal Display by 187.9% in the 1st quarter. Assetmark Inc. now owns 996 shares of the semiconductor company’s stock valued at $101,000 after purchasing an additional 650 shares during the last quarter. US Bancorp DE raised its position in Universal Display by 4,188.2% in the 4th quarter. US Bancorp DE now owns 729 shares of the semiconductor company’s stock valued at $126,000 after purchasing an additional 712 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in Universal Display by 93.6% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,274 shares of the semiconductor company’s stock valued at $129,000 after purchasing an additional 616 shares during the last quarter. Aevitas Wealth Management Inc. purchased a new stake in Universal Display in the 4th quarter valued at $165,000. Finally, American International Group Inc. purchased a new stake in Universal Display in the 4th quarter valued at $170,000. Hedge funds and other institutional investors own 65.25% of the company’s stock.
Shares of Universal Display stock opened at $83.05 on Wednesday. Universal Display has a 52-week low of $80.63 and a 52-week high of $209.00. The company has a market capitalization of $4.07 billion, a P/E ratio of 34.18 and a beta of 1.38.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, June 14th. This represents a $0.24 annualized dividend and a dividend yield of 0.29%. Universal Display’s dividend payout ratio is presently 9.88%.
About Universal Display
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 22, 2018, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 4,500 issued and pending patents worldwide.
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