Brokerages Expect Universal Display Co. (NASDAQ:OLED) to Announce $0.57 EPS

Wall Street brokerages expect Universal Display Co. (NASDAQ:OLED) to report $0.57 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Universal Display’s earnings, with the highest EPS estimate coming in at $0.69 and the lowest estimate coming in at $0.43. Universal Display posted earnings per share of $0.48 in the same quarter last year, which suggests a positive year-over-year growth rate of 18.8%. The firm is expected to report its next earnings results on Thursday, November 7th.

According to Zacks, analysts expect that Universal Display will report full-year earnings of $2.68 per share for the current financial year, with EPS estimates ranging from $2.60 to $2.80. For the next year, analysts expect that the firm will post earnings of $3.89 per share, with EPS estimates ranging from $3.74 to $4.20. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that follow Universal Display.

Universal Display (NASDAQ:OLED) last announced its earnings results on Thursday, August 1st. The semiconductor company reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.46. Universal Display had a net margin of 33.08% and a return on equity of 16.52%. The business had revenue of $118.17 million for the quarter, compared to the consensus estimate of $79.26 million. During the same quarter in the prior year, the firm posted $0.23 earnings per share. The business’s revenue for the quarter was up 110.5% on a year-over-year basis.

Several brokerages have recently weighed in on OLED. Citigroup increased their target price on shares of Universal Display from $180.00 to $223.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Benchmark set a $175.00 target price on shares of Universal Display and gave the company a “buy” rating in a research note on Tuesday. Oppenheimer downgraded shares of Universal Display from an “outperform” rating to a “market perform” rating and set a $190.50 target price on the stock. in a research note on Wednesday, July 10th. They noted that the move was a valuation call. Roth Capital increased their target price on shares of Universal Display from $172.00 to $206.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Deutsche Bank set a $230.00 target price on shares of Universal Display and gave the company a “buy” rating in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $182.65.

In other news, CEO Steven V. Abramson sold 31,182 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $222.02, for a total value of $6,923,027.64. Following the transaction, the chief executive officer now directly owns 146,493 shares in the company, valued at $32,524,375.86. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director C Keith Hartley sold 10,528 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $214.27, for a total transaction of $2,255,834.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 130,977 shares of company stock worth $27,531,508. Company insiders own 3.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Meridian Wealth Management LLC bought a new position in shares of Universal Display in the first quarter worth about $31,000. TCI Wealth Advisors Inc. grew its holdings in shares of Universal Display by 1,458.3% in the second quarter. TCI Wealth Advisors Inc. now owns 187 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 175 shares during the last quarter. HM Payson & Co. bought a new position in shares of Universal Display in the second quarter worth about $38,000. Weaver Consulting Group bought a new position in Universal Display during the 1st quarter worth about $39,000. Finally, Capital Investment Advisory Services LLC grew its holdings in Universal Display by 94.0% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 194 shares of the semiconductor company’s stock worth $40,000 after acquiring an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 69.00% of the company’s stock.

Shares of OLED traded down $1.32 during midday trading on Monday, hitting $181.73. The stock had a trading volume of 604,617 shares, compared to its average volume of 731,876. Universal Display has a 1 year low of $78.78 and a 1 year high of $230.32. The firm has a market cap of $8.41 billion, a PE ratio of 146.56, a price-to-earnings-growth ratio of 2.22 and a beta of 1.53. The stock’s 50 day moving average is $204.22 and its 200 day moving average is $179.56.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date is Friday, September 13th. Universal Display’s payout ratio is presently 32.26%.

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 21, 2019, it owned or had exclusive and co-exclusive licenses, or had sole license rights with respect to approximately 5,000 issued and pending patents worldwide.

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