Wall Street brokerages predict that Universal Display Co. (NASDAQ:OLED) will report sales of $69.83 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Universal Display’s earnings. The lowest sales estimate is $68.00 million and the highest is $71.00 million. Universal Display posted sales of $115.87 million in the same quarter last year, which suggests a negative year-over-year growth rate of 39.7%. The business is scheduled to issue its next earnings results on Thursday, February 28th.
On average, analysts expect that Universal Display will report full-year sales of $246.09 million for the current year, with estimates ranging from $243.00 million to $248.30 million. For the next fiscal year, analysts expect that the business will post sales of $344.98 million, with estimates ranging from $298.00 million to $374.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Universal Display.
Universal Display (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, November 1st. The semiconductor company reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.18). Universal Display had a return on equity of 12.77% and a net margin of 24.70%. The business had revenue of $77.55 million during the quarter, compared to the consensus estimate of $92.21 million. During the same quarter in the previous year, the company earned $0.28 earnings per share. The company’s revenue for the quarter was up 25.7% compared to the same quarter last year.
In other news, VP Mauro Premutico sold 10,044 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $123.63, for a total transaction of $1,241,739.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Lawrence Lacerte sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $97.02, for a total value of $970,200.00. Following the sale, the director now directly owns 330,000 shares in the company, valued at $32,016,600. The disclosure for this sale can be found here. 4.00% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Zweig DiMenna Associates LLC raised its holdings in shares of Universal Display by 125.0% during the 3rd quarter. Zweig DiMenna Associates LLC now owns 66,873 shares of the semiconductor company’s stock worth $7,884,000 after acquiring an additional 37,158 shares in the last quarter. grace capital purchased a new stake in Universal Display during the 2nd quarter valued at $430,000. PNC Financial Services Group Inc. raised its holdings in Universal Display by 13.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,432 shares of the semiconductor company’s stock valued at $381,000 after buying an additional 542 shares during the period. Stelliam Investment Management LP raised its holdings in Universal Display by 16.0% during the 2nd quarter. Stelliam Investment Management LP now owns 174,000 shares of the semiconductor company’s stock valued at $14,964,000 after buying an additional 24,000 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its holdings in Universal Display by 5.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 219,322 shares of the semiconductor company’s stock valued at $18,862,000 after buying an additional 12,179 shares during the period. 77.53% of the stock is currently owned by institutional investors and hedge funds.
OLED stock traded up $0.26 during midday trading on Friday, hitting $91.84. The company’s stock had a trading volume of 733,432 shares, compared to its average volume of 1,212,232. Universal Display has a 12 month low of $78.75 and a 12 month high of $209.00. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of 37.79, a PEG ratio of 2.65 and a beta of 1.64.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.24 annualized dividend and a dividend yield of 0.26%. Universal Display’s dividend payout ratio (DPR) is 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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