Universal Display Co. (OLED) to Post Q2 2018 Earnings of $0.41 Per Share, Oppenheimer Forecasts
Universal Display Co. (NASDAQ:OLED) – Investment analysts at Oppenheimer cut their Q2 2018 earnings per share (EPS) estimates for shares of Universal Display in a research note issued on Wednesday. Oppenheimer analyst A. Uerkwitz now anticipates that the semiconductor company will post earnings of $0.41 per share for the quarter, down from their previous estimate of $0.53. Oppenheimer also issued estimates for Universal Display’s Q4 2018 earnings at $0.98 EPS.
Universal Display (NASDAQ:OLED) last released its earnings results on Thursday, February 22nd. The semiconductor company reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.11. The company had revenue of $115.87 million for the quarter, compared to analyst estimates of $99.55 million. Universal Display had a return on equity of 18.80% and a net margin of 30.95%. Universal Display’s quarterly revenue was up 55.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.55 EPS.
Shares of Universal Display (OLED) opened at $123.55 on Thursday. The stock has a market capitalization of $5,907.19, a price-to-earnings ratio of 56.67 and a beta of 1.08. Universal Display has a 1-year low of $79.55 and a 1-year high of $209.00.
Institutional investors have recently bought and sold shares of the business. US Bancorp DE raised its position in Universal Display by 4,188.2% in the fourth 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. Cerebellum GP LLC bought a new position in Universal Display in the fourth quarter valued at about $129,000. Aevitas Wealth Management Inc. bought a new position in Universal Display in the fourth quarter valued at about $165,000. Glassman Wealth Services raised its position in Universal Display by 60.7% in the fourth quarter. Glassman Wealth Services now owns 961 shares of the semiconductor company’s stock valued at $166,000 after purchasing an additional 363 shares during the last quarter. Finally, American International Group Inc. bought a new position in Universal Display in the fourth quarter valued at about $170,000. Hedge funds and other institutional investors own 66.36% of the company’s stock.
In other Universal Display news, Chairman Sherwin I. Seligsohn sold 50,000 shares of the stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $200.00, for a total value of $10,000,000.00. Following the completion of the transaction, the chairman now directly owns 143,119 shares in the company, valued at $28,623,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard C. Elias sold 2,250 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $129.60, for a total value of $291,600.00. The disclosure for this sale can be found here. Company insiders own 5.20% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Thursday, March 15th will be paid a $0.06 dividend. The ex-dividend date is Wednesday, March 14th. This is a positive change from Universal Display’s previous quarterly dividend of $0.03. This represents a $0.24 annualized dividend and a yield of 0.19%. Universal Display’s dividend payout ratio (DPR) is 5.50%.
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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