Zacks: Brokerages Expect Universal Display Co. (OLED) Will Post Quarterly Sales of $87.68 Million
Analysts forecast that Universal Display Co. (NASDAQ:OLED) will announce sales of $87.68 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Universal Display’s earnings, with the highest sales estimate coming in at $90.80 million and the lowest estimate coming in at $82.00 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 firm is expected to issue its next 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 financial year, with estimates ranging from $291.80 million to $300.30 million. For the next financial year, analysts expect that the firm will report sales of $430.61 million per share, with estimates ranging from $377.00 million to $460.05 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Universal Display.
Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, August 9th. The semiconductor company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.15 by $0.08. The company 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 11.59% and a net margin of 22.76%. The firm’s revenue was down 45.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.99 earnings per share.
In other news, Director Lawrence Lacerte sold 15,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 348,950 shares of the company’s stock, valued at $41,703,014.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Rosemarie B. Greco sold 3,750 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 10,700 shares in the company, valued at approximately $1,050,205. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Assetmark Inc. grew its holdings in Universal Display by 187.9% during the first quarter. Assetmark Inc. now owns 996 shares of the semiconductor company’s stock worth $101,000 after acquiring an additional 650 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in Universal Display by 93.6% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,274 shares of the semiconductor company’s stock worth $129,000 after acquiring an additional 616 shares during the period. US Bancorp DE grew its holdings in Universal Display by 125.0% during the first quarter. US Bancorp DE now owns 1,640 shares of the semiconductor company’s stock worth $165,000 after acquiring an additional 911 shares during the period. Advisors Asset Management Inc. grew its holdings in Universal Display by 4,030.0% during the second quarter. Advisors Asset Management Inc. now owns 190,683 shares of the semiconductor company’s stock worth $192,000 after acquiring an additional 186,066 shares during the period. Finally, Cornercap Investment Counsel Inc. acquired a new position in Universal Display during the first quarter worth $202,000. 72.57% of the stock is currently owned by institutional investors and hedge funds.
OLED opened at $124.50 on Wednesday. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 51.23 and a beta of 1.73. Universal Display has a 52 week low of $78.75 and a 52 week high of $209.00.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Saturday, September 15th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date is Thursday, September 13th. Universal Display’s payout ratio is currently 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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