$97.73 Million in Sales Expected for Universal Display Co. (OLED) This Quarter

Wall Street brokerages expect Universal Display Co. (NASDAQ:OLED) to announce $97.73 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Universal Display’s earnings, with the highest sales estimate coming in at $98.36 million and the lowest estimate coming in at $97.10 million. Universal Display posted sales of $74.58 million in the same quarter last year, which suggests a positive year over year growth rate of 31%. The firm is expected to report its next quarterly earnings report after the market closes on Thursday, February 22nd.

On average, analysts expect that Universal Display will report full year sales of $97.73 million for the current financial year, with estimates ranging from $316.80 million to $320.00 million. For the next financial year, analysts expect that the business will report sales of $400.15 million per share, with estimates ranging from $372.20 million to $424.26 million. Zacks’ sales averages are an average based on a survey of analysts that cover Universal Display.

Several research analysts have issued reports on OLED shares. Deutsche Bank increased their price objective on Universal Display to $190.00 and gave the stock a “buy” rating in a research report on Friday, December 8th. Zacks Investment Research upgraded Universal Display from a “hold” rating to a “buy” rating and set a $198.00 price objective for the company in a research report on Wednesday, November 15th. Cowen set a $150.00 price objective on Universal Display and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Cross Research cut Universal Display from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Universal Display in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. Universal Display presently has an average rating of “Hold” and an average price target of $164.80.

Universal Display (OLED) opened at $143.35 on Friday. The stock has a market capitalization of $6,740.00, a price-to-earnings ratio of 68.59 and a beta of 0.90. Universal Display has a 52-week low of $63.60 and a 52-week high of $209.00.

In other Universal Display news, Chairman Sherwin I. Seligsohn sold 50,000 shares of the company’s stock in a transaction 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 sale, the chairman now owns 143,119 shares of the company’s stock, valued at $28,623,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.20% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. Stifel Financial Corp grew its holdings in Universal Display by 2.6% in the second quarter. Stifel Financial Corp now owns 3,362 shares of the semiconductor company’s stock valued at $370,000 after purchasing an additional 86 shares during the last quarter. Advisor Group Inc. boosted its stake in shares of Universal Display by 5.3% during the second quarter. Advisor Group Inc. now owns 2,649 shares of the semiconductor company’s stock valued at $286,000 after acquiring an additional 134 shares during the last quarter. Alps Advisors Inc. boosted its stake in shares of Universal Display by 9.8% during the fourth quarter. Alps Advisors Inc. now owns 3,900 shares of the semiconductor company’s stock valued at $673,000 after acquiring an additional 347 shares during the last quarter. Eqis Capital Management Inc. boosted its stake in shares of Universal Display by 9.0% during the fourth quarter. Eqis Capital Management Inc. now owns 4,291 shares of the semiconductor company’s stock valued at $741,000 after acquiring an additional 353 shares during the last quarter. Finally, Glassman Wealth Services boosted its stake in shares of Universal Display by 60.7% during 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. 64.50% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: “$97.73 Million in Sales Expected for Universal Display Co. (OLED) This Quarter” was first published by Community Financial News and is owned by of Community Financial News. If you are accessing this piece on another site, it was illegally copied and republished in violation of international copyright and trademark laws. The correct version of this piece can be read at https://www.com-unik.info/2018/02/10/97-73-million-in-sales-expected-for-universal-display-co-oled-this-quarter.html.

Universal Display Company Profile

Universal Display Corporation is engaged in the research, development and commercialization of organic light emitting diode (OLED), technologies and materials for use in display and solid-state lighting applications. The Company also supplies its OLED materials to manufacturers of OLED displays and lighting products for evaluation and for use in product development and for pre-commercial activities, and it also provides technical assistance and support to these manufacturers.

Get a free copy of the Zacks research report on Universal Display (OLED)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Universal Display Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Display and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit