Zacks: Brokerages Expect Universal Display Co. (OLED) Will Announce Quarterly Sales of $97.73 Million
Analysts expect that Universal Display Co. (NASDAQ:OLED) will report sales of $97.73 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Universal Display’s earnings. The highest sales estimate is $98.36 million and the lowest is $97.10 million. Universal Display posted sales of $74.58 million during the same quarter last year, which suggests a positive year-over-year growth rate of 31%. The business is expected to issue its next earnings report on Thursday, February 22nd.
According to Zacks, analysts expect that Universal Display will report full-year sales of $97.73 million for the current year, with estimates ranging from $316.80 million to $318.12 million. For the next financial year, analysts forecast that the company will post sales of $396.12 million per share, with estimates ranging from $372.20 million to $434.15 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Universal Display.
Universal Display (NASDAQ:OLED) last issued its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.09 by $0.19. Universal Display had a net margin of 32.92% and a return on equity of 16.67%. The business had revenue of $61.70 million for the quarter, compared to analysts’ expectations of $47.35 million. During the same quarter last year, the company posted ($0.03) earnings per share. The company’s quarterly revenue was up 104.3% compared to the same quarter last year.
Several equities analysts have recently commented on the stock. Susquehanna Bancshares increased their price target on shares of Universal Display from $195.00 to $215.00 and gave the stock a “positive” rating in a research report on Friday. Zacks Investment Research raised shares of Universal Display from a “hold” rating to a “buy” rating and set a $195.00 target price on the stock in a report on Thursday. Deutsche Bank raised their target price on shares of Universal Display to $190.00 and gave the stock a “buy” rating in a report on Friday, December 8th. BidaskClub cut shares of Universal Display from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Finally, Evercore ISI assumed coverage on shares of Universal Display in a report on Thursday, November 30th. They issued an “outperform” rating and a $225.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $161.50.
In other Universal Display news, Director Rosemarie B. Greco sold 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $168.63, for a total value of $210,787.50. Following the sale, the director now owns 12,800 shares in the company, valued at $2,158,464. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Julia J. Brown sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $150.00, for a total transaction of $1,500,000.00. Following the completion of the sale, the insider now owns 152,932 shares in the company, valued at approximately $22,939,800. The disclosure for this sale can be found here. Insiders sold 146,734 shares of company stock worth $23,349,769 in the last three months. 5.20% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the business. Russell Investments Group Ltd. increased its stake in shares of Universal Display by 198.8% in the third quarter. Russell Investments Group Ltd. now owns 66,709 shares of the semiconductor company’s stock valued at $8,595,000 after purchasing an additional 44,384 shares during the period. Balyasny Asset Management LLC acquired a new stake in shares of Universal Display in the second quarter valued at approximately $3,673,000. Seven Eight Capital LP increased its stake in shares of Universal Display by 9.9% in the second quarter. Seven Eight Capital LP now owns 17,700 shares of the semiconductor company’s stock valued at $1,934,000 after purchasing an additional 1,600 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Universal Display in the second quarter valued at approximately $366,000. Finally, Principal Financial Group Inc. increased its stake in shares of Universal Display by 31.6% in the second quarter. Principal Financial Group Inc. now owns 11,459 shares of the semiconductor company’s stock valued at $1,252,000 after purchasing an additional 2,750 shares during the period. Institutional investors own 64.87% of the company’s stock.
Universal Display (NASDAQ OLED) opened at $179.30 on Friday. Universal Display has a 12-month low of $56.15 and a 12-month high of $192.75. The company has a market cap of $8,430.00, a PE ratio of 85.79 and a beta of 1.07.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were issued a $0.03 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $0.12 dividend on an annualized basis and a yield of 0.07%. Universal Display’s dividend payout ratio is currently 5.74%.
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Universal Display Company Profile
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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