Universal Display (OLED) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS
Universal Display (NASDAQ:OLED) released its earnings data on Thursday. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01, AnalystRatingsNetwork reports. The company had revenue of $49.50 million for the quarter, compared to the consensus estimate of $46.92 million. The company’s revenue for the quarter was up 76.2% on a year-over-year basis.
A number of analysts have recently weighed in on OLED shares. Analysts at Canaccord Genuity upgraded shares of Universal Display from a “sell” rating to a “hold” rating in a research note on Tuesday, February 18th. They now have a $33.00 price target on the stock, up previously from $22.00. On a related note, analysts at Zacks upgraded shares of Universal Display from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 8th. They now have a $39.40 price target on the stock. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $38.18.
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