Universal Display Corporation (OLED) Releases Earnings Results, Beats Expectations By $0.19 EPS
Universal Display Corporation (NASDAQ:OLED) issued its earnings results on Thursday. The semiconductor company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.19, Briefing.com reports. The business had revenue of $61.70 million during the quarter, compared to analysts’ expectations of $47.35 million. Universal Display Corporation had a net margin of 32.92% and a return on equity of 17.08%. The company’s quarterly revenue was up 104.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.03) earnings per share.
Shares of Universal Display Corporation (OLED) traded up $15.40 during mid-day trading on Friday, reaching $158.10. 3,415,847 shares of the company’s stock traded hands, compared to its average volume of 710,422. The company has a market capitalization of $6.79 billion, a PE ratio of 70.76 and a beta of 1.03.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.08%. The ex-dividend date is Thursday, December 14th. Universal Display Corporation’s dividend payout ratio (DPR) is presently 5.88%.
A number of equities research analysts have recently commented on OLED shares. Susquehanna Bancshares Inc reiterated a “positive” rating on shares of Universal Display Corporation in a research report on Thursday, July 13th. Zacks Investment Research cut shares of Universal Display Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Summit Redstone reiterated a “hold” rating and issued a $95.00 target price on shares of Universal Display Corporation in a research report on Tuesday, August 1st. Cowen and Company reiterated an “outperform” rating and issued a $130.00 target price on shares of Universal Display Corporation in a research report on Tuesday, August 1st. Finally, Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $150.00 price objective (up from $140.00) on shares of Universal Display Corporation in a research report on Wednesday, August 9th. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $134.78.
ILLEGAL ACTIVITY NOTICE: “Universal Display Corporation (OLED) Releases Earnings Results, Beats Expectations By $0.19 EPS” was published by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another site, it was stolen and reposted in violation of US and international trademark and copyright legislation. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/11/03/universal-display-corporation-oled-releases-earnings-results-beats-expectations-by-0-19-eps.html.
In other Universal Display Corporation news, CFO Sidney D. Rosenblatt sold 50,240 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $135.02, for a total transaction of $6,783,404.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.20% of the company’s stock.
About Universal Display Corporation
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.
Receive News & Ratings for Universal Display Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Display Corporation and related companies with MarketBeat.com's FREE daily email newsletter.