Universal Display Co. (OLED) Expected to Announce Earnings of $0.19 Per Share

Wall Street brokerages forecast that Universal Display Co. (NASDAQ:OLED) will report $0.19 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Universal Display’s earnings. The lowest EPS estimate is $0.12 and the highest is $0.24. Universal Display reported earnings per share of $0.22 in the same quarter last year, which suggests a negative year over year growth rate of 13.6%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Thursday, May 3rd.

According to Zacks, analysts expect that Universal Display will report full-year earnings of $2.65 per share for the current fiscal year, with EPS estimates ranging from $2.50 to $2.78. For the next financial year, analysts expect that the firm will report earnings of $3.93 per share, with EPS estimates ranging from $3.46 to $4.55. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Universal Display.

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Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, February 22nd. The semiconductor company reported $0.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.11. Universal Display had a return on equity of 18.80% and a net margin of 30.95%. The firm had revenue of $115.87 million during the quarter, compared to analyst estimates of $99.55 million. During the same period last year, the company earned $0.55 EPS. Universal Display’s quarterly revenue was up 55.3% compared to the same quarter last year.

Several brokerages recently weighed in on OLED. Oppenheimer upgraded Universal Display from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research note on Friday, April 6th. Zacks Investment Research downgraded Universal Display from a “hold” rating to a “sell” rating in a research note on Tuesday, April 3rd. Goldman Sachs set a $190.00 price target on Universal Display and gave the company a “buy” rating in a research note on Tuesday, March 20th. Gabelli upgraded Universal Display from a “hold” rating to a “buy” rating in a research note on Tuesday, March 20th. Finally, ValuEngine downgraded Universal Display from a “hold” rating to a “sell” rating in a research note on Monday, March 19th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $165.58.

In related news, Director Richard C. Elias sold 2,250 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $129.60, for a total value of $291,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Elizabeth H. Gemmill sold 2,500 shares of the company’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $124.07, for a total value of $310,175.00. The disclosure for this sale can be found here. Insiders own 5.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OLED. First Trust Advisors LP raised its holdings in Universal Display by 96.9% in the 4th quarter. First Trust Advisors LP now owns 335,440 shares of the semiconductor company’s stock worth $57,914,000 after purchasing an additional 165,082 shares during the period. Honeycomb Asset Management LP purchased a new stake in Universal Display during the 4th quarter worth approximately $24,171,000. UBS Asset Management Americas Inc. increased its stake in Universal Display by 48.0% during the 4th quarter. UBS Asset Management Americas Inc. now owns 396,713 shares of the semiconductor company’s stock worth $68,492,000 after buying an additional 128,667 shares in the last quarter. Two Sigma Advisers LP increased its stake in Universal Display by 59.1% during the 4th quarter. Two Sigma Advisers LP now owns 266,898 shares of the semiconductor company’s stock worth $46,080,000 after buying an additional 99,100 shares in the last quarter. Finally, Jennison Associates LLC purchased a new stake in Universal Display during the 4th quarter worth approximately $14,926,000. 63.07% of the stock is owned by institutional investors.

OLED stock traded up $0.80 on Tuesday, hitting $99.40. 314,216 shares of the company’s stock were exchanged, compared to its average volume of 1,623,019. Universal Display has a 12-month low of $80.98 and a 12-month high of $209.00. The company has a market cap of $4,683.24, a price-to-earnings ratio of 41.03 and a beta of 1.32.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Thursday, March 15th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend was Wednesday, March 14th. This is a boost from Universal Display’s previous quarterly dividend of $0.03. Universal Display’s payout ratio is 9.88%.

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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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