LG Display (NYSE:LPL) Shares Down 4.7% – Here’s What Happened

Shares of LG Display Co., Ltd. (NYSE:LPL) dropped 4.7% during mid-day trading on Tuesday . The company traded as low as $4.67 and last traded at $4.7250. Approximately 217,384 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 1,590,075 shares. The stock had previously closed at $4.96.

Analysts Set New Price Targets

LPL has been the subject of a number of analyst reports. Wall Street Zen lowered LG Display from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Weiss Ratings upgraded LG Display from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday. Finally, Zacks Research upgraded LG Display from a “strong sell” rating to a “hold” rating in a research report on Monday, March 30th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce”.

LG Display Trading Down 8.4%

The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.22 and a current ratio of 0.34. The stock’s fifty day moving average is $4.64 and its 200 day moving average is $4.39. The stock has a market cap of $4.55 billion, a P/E ratio of -226.75 and a beta of 1.61.

LG Display (NYSE:LPL) last announced its quarterly earnings results on Friday, May 15th. The electronics maker reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.17). The business had revenue of $3.78 billion during the quarter. LG Display had a negative net margin of 0.18% and a negative return on equity of 0.68%. As a group, equities research analysts predict that LG Display Co., Ltd. will post -0.21 earnings per share for the current fiscal year.

Institutional Trading of LG Display

Several institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in LG Display by 82.2% in the first quarter. EverSource Wealth Advisors LLC now owns 17,799 shares of the electronics maker’s stock worth $69,000 after purchasing an additional 8,032 shares during the last quarter. Sei Investments Co. lifted its stake in LG Display by 46.4% in the first quarter. Sei Investments Co. now owns 55,762 shares of the electronics maker’s stock worth $216,000 after purchasing an additional 17,665 shares during the last quarter. Cetera Investment Advisers lifted its stake in LG Display by 18.8% in the first quarter. Cetera Investment Advisers now owns 14,580 shares of the electronics maker’s stock worth $57,000 after purchasing an additional 2,308 shares during the last quarter. First Trust Advisors LP lifted its stake in LG Display by 135.3% in the first quarter. First Trust Advisors LP now owns 229,715 shares of the electronics maker’s stock worth $891,000 after purchasing an additional 132,096 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in LG Display by 37.3% in the first quarter. PNC Financial Services Group Inc. now owns 320,244 shares of the electronics maker’s stock worth $1,243,000 after purchasing an additional 87,055 shares during the last quarter.

About LG Display

LG Display Co, Ltd., headquartered in Seoul, South Korea, is a global manufacturer of thin-film transistor liquid crystal display (TFT-LCD) and organic light-emitting diode (OLED) panels. The company designs and produces display solutions for a wide range of applications, including televisions, desktop monitors, notebook computers, tablets, smartphones, signage and automotive screens. Its product offerings span large-screen television modules, ultra-high definition monitors, flexible and transparent OLED displays, and specialized industrial panels.

LG Display operates a network of production facilities and research centers across Asia, including major manufacturing sites in Paju and Gumi, South Korea, as well as Wuhan, China.