Universal Display Co. (OLED) Expected to Announce Quarterly Sales of $87.68 Million

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Analysts expect that Universal Display Co. (NASDAQ:OLED) will post $87.68 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Universal Display’s earnings, with the lowest sales estimate coming in at $82.00 million and the highest estimate coming in at $90.80 million. Universal Display reported sales of $61.68 million during the same quarter last year, which suggests a positive year-over-year growth rate of 42.2%. The company is scheduled to report its next quarterly earnings results on Thursday, November 1st.

According to Zacks, analysts expect that Universal Display will report full-year sales of $296.27 million for the current year, with estimates ranging from $291.80 million to $300.30 million. For the next year, analysts expect that the company 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 a mean average based on a survey of analysts that that provide coverage for Universal Display.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, August 9th. The semiconductor company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.08. Universal Display had a return on equity of 11.59% and a net margin of 22.76%. The business had revenue of $56.15 million for the quarter, compared to analyst estimates of $49.64 million. During the same period last year, the company earned $0.99 EPS. The firm’s revenue was down 45.2% on a year-over-year basis.

Several research firms have recently issued reports on OLED. ValuEngine lowered Universal Display from a “buy” rating to a “hold” rating in a research report on Tuesday. BidaskClub upgraded Universal Display from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 10th. Roth Capital began coverage on Universal Display in a research report on Monday, May 21st. They issued a “buy” rating and a $136.00 price target on the stock. Citigroup began coverage on Universal Display in a research report on Tuesday. They issued a “buy” rating and a $153.00 price target on the stock. Finally, Goldman Sachs Group set a $150.00 price target on Universal Display and gave the stock a “buy” rating in a research report on Tuesday, May 29th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $172.82.

In other Universal Display news, Director Lawrence Lacerte sold 15,000 shares of Universal Display stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $119.51, for a total transaction of $1,792,650.00. Following the transaction, the director now directly owns 348,950 shares in the company, valued at $41,703,014.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Mauro Premutico sold 10,044 shares of Universal Display stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $123.63, for a total value of $1,241,739.72. The disclosure for this sale can be found here. Insiders own 4.00% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Chicago Partners Investment Group LLC raised its stake in shares of Universal Display by 2,258.1% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 6,862 shares of the semiconductor company’s stock valued at $590,000 after purchasing an additional 6,571 shares during the period. Schroder Investment Management Group acquired a new stake in shares of Universal Display in the 2nd quarter valued at about $10,375,000. Orleans Capital Management Corp LA raised its stake in shares of Universal Display by 45.4% in the 2nd quarter. Orleans Capital Management Corp LA now owns 3,380 shares of the semiconductor company’s stock valued at $291,000 after purchasing an additional 1,055 shares during the period. Tiedemann Advisors LLC acquired a new stake in shares of Universal Display in the 2nd quarter valued at about $688,000. Finally, Advisors Asset Management Inc. raised its stake in shares of Universal Display by 4,030.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 190,683 shares of the semiconductor company’s stock valued at $192,000 after purchasing an additional 186,066 shares during the period. 72.98% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:OLED traded up $1.45 during midday trading on Wednesday, hitting $124.10. The company had a trading volume of 780,987 shares, compared to its average volume of 1,202,783. Universal Display has a 12 month low of $78.75 and a 12 month high of $209.00. The firm has a market capitalization of $5.78 billion, a P/E ratio of 51.07 and a beta of 1.74.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Saturday, September 15th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $0.24 annualized dividend and a yield of 0.19%. Universal Display’s dividend payout ratio is presently 9.88%.

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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