Analysts Anticipate Universal Display Co. (OLED) Will Post Quarterly Sales of $87.68 Million
Brokerages expect Universal Display Co. (NASDAQ:OLED) to report $87.68 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Universal Display’s earnings, with estimates ranging from $82.00 million to $90.80 million. Universal Display posted sales of $61.68 million during the same quarter last year, which would indicate a positive year over year growth rate of 42.2%. The company is scheduled to issue its next quarterly earnings report on Thursday, November 1st.
On average, analysts expect that Universal Display will report full-year sales of $296.27 million for the current fiscal year, with estimates ranging from $291.80 million to $300.30 million. For the next year, analysts expect that the firm will post sales of $430.61 million per share, with estimates ranging from $377.00 million to $460.05 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Universal Display.
Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, August 9th. The semiconductor company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.08. The business had revenue of $56.15 million for the quarter, compared to analyst estimates of $49.64 million. Universal Display had a return on equity of 11.63% and a net margin of 22.76%. The business’s revenue for the quarter was down 45.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.99 earnings per share.
OLED opened at $115.65 on Friday. The firm has a market cap of $5.41 billion, a P/E ratio of 47.59 and a beta of 1.44. Universal Display has a 52 week low of $78.75 and a 52 week high of $209.00.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Saturday, September 15th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date is Thursday, September 13th. Universal Display’s payout ratio is 9.88%.
In other Universal Display news, Director Lawrence Lacerte sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $119.51, for a total value of $1,792,650.00. Following the sale, the director now directly owns 348,950 shares of the company’s stock, valued at approximately $41,703,014.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Rosemarie B. Greco sold 3,750 shares of the firm’s stock in a transaction dated Thursday, June 7th. The stock was 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 directly owns 10,700 shares in the company, valued at $1,050,205. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of OLED. Assetmark Inc. raised its holdings in shares of Universal Display by 187.9% in the 1st quarter. Assetmark Inc. now owns 996 shares of the semiconductor company’s stock worth $101,000 after purchasing an additional 650 shares during the period. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of 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 worth $129,000 after purchasing an additional 616 shares during the period. US Bancorp DE raised its holdings in shares of Universal Display by 125.0% in the 1st quarter. US Bancorp DE now owns 1,640 shares of the semiconductor company’s stock worth $165,000 after purchasing an additional 911 shares during the period. Cornercap Investment Counsel Inc. purchased a new position in shares of Universal Display in the 1st quarter worth about $202,000. Finally, Parsons Capital Management Inc. RI raised its holdings in shares of Universal Display by 65.7% in the 1st quarter. Parsons Capital Management Inc. RI now owns 2,031 shares of the semiconductor company’s stock worth $205,000 after purchasing an additional 805 shares during the period. 64.51% of the stock is currently owned by hedge funds and other institutional investors.
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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