Zacks: Brokerages Expect Universal Display Co. (OLED) Will Post Quarterly Sales of $60.36 Million

Equities analysts expect Universal Display Co. (NASDAQ:OLED) to report sales of $60.36 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Universal Display’s earnings. The lowest sales estimate is $58.72 million and the highest is $62.00 million. Universal Display posted sales of $55.57 million during the same quarter last year, which suggests a positive year-over-year growth rate of 8.6%. The firm is expected to report its next quarterly earnings results on Thursday, May 3rd.

According to Zacks, analysts expect that Universal Display will report full year sales of $60.36 million for the current year, with estimates ranging from $363.00 million to $370.00 million. For the next financial year, analysts forecast that the company will post sales of $473.40 million per share, with estimates ranging from $443.00 million to $532.81 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Universal Display.

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Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, February 22nd. The semiconductor company reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.11. The company had revenue of $115.87 million during 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 previous year, the business earned $0.55 EPS.

Several research analysts have recently weighed in on the company. Zacks Investment Research cut Universal Display from a “hold” rating to a “sell” rating in a report on Tuesday, March 27th. Goldman Sachs set a $190.00 target price on Universal Display and gave the stock a “buy” rating in a report on Tuesday, March 20th. ValuEngine cut Universal Display from a “hold” rating to a “sell” rating in a report on Monday, March 19th. BidaskClub cut Universal Display from a “buy” rating to a “hold” rating in a report on Wednesday, December 6th. Finally, Deutsche Bank boosted their target price on Universal Display to $190.00 and gave the stock a “buy” rating in a report on Friday, December 8th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $169.73.

In related news, Chairman Sherwin I. Seligsohn sold 50,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chairman now directly owns 143,119 shares in the company, valued at $28,623,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard C. Elias sold 2,250 shares of the company’s stock in a transaction that occurred on 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. Insiders sold 54,750 shares of company stock worth $10,601,775 over the last quarter. 5.20% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE lifted its holdings 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 acquiring an additional 712 shares during the last quarter. Cerebellum GP LLC acquired a new position in Universal Display in the fourth quarter valued at approximately $129,000. Aevitas Wealth Management Inc. acquired a new position in Universal Display in the fourth quarter valued at approximately $165,000. Glassman Wealth Services lifted its holdings 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 acquiring an additional 363 shares during the last quarter. Finally, American International Group Inc. acquired a new position in Universal Display in the fourth quarter valued at approximately $170,000. Hedge funds and other institutional investors own 63.09% of the company’s stock.

Shares of Universal Display stock opened at $101.00 on Monday. The company has a market cap of $4,752.15, a PE ratio of 41.56 and a beta of 1.08. Universal Display has a 1-year low of $80.80 and a 1-year high of $209.00.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Thursday, March 15th were issued a $0.06 dividend. The ex-dividend date of this dividend was Wednesday, March 14th. This is a boost from Universal Display’s previous quarterly dividend of $0.03. This represents a $0.24 dividend on an annualized basis and a yield of 0.24%. Universal Display’s dividend payout ratio is currently 9.88%.

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Universal Display Company Profile

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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Earnings History and Estimates for Universal Display (NASDAQ:OLED)

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