Zacks Research Comments on Universal Display Co.’s Q1 2024 Earnings (NASDAQ:OLED)

Universal Display Co. (NASDAQ:OLEDFree Report) – Investment analysts at Zacks Research increased their Q1 2024 earnings per share (EPS) estimates for Universal Display in a report issued on Thursday, March 14th. Zacks Research analyst R. Department now forecasts that the semiconductor company will post earnings per share of $1.00 for the quarter, up from their prior forecast of $0.94. The consensus estimate for Universal Display’s current full-year earnings is $4.70 per share. Zacks Research also issued estimates for Universal Display’s Q4 2024 earnings at $1.30 EPS, Q2 2025 earnings at $1.27 EPS, Q3 2025 earnings at $1.46 EPS, Q4 2025 earnings at $1.51 EPS, FY2025 earnings at $5.41 EPS and FY2026 earnings at $6.47 EPS.

Other research analysts have also recently issued research reports about the stock. TheStreet upgraded shares of Universal Display from a “c+” rating to a “b-” rating in a research note on Thursday, December 21st. Needham & Company LLC upped their target price on shares of Universal Display from $175.00 to $198.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. Bank of America upgraded shares of Universal Display from a “neutral” rating to a “buy” rating and upped their target price for the company from $160.00 to $250.00 in a research report on Monday, December 18th. Oppenheimer reissued an “outperform” rating and issued a $200.00 price target (down previously from $210.00) on shares of Universal Display in a report on Friday, February 23rd. Finally, TD Cowen upped their target price on shares of Universal Display from $165.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $199.86.

Read Our Latest Research Report on OLED

Universal Display Trading Down 0.2 %

NASDAQ OLED opened at $159.62 on Monday. Universal Display has a 1-year low of $125.98 and a 1-year high of $194.84. The stock’s 50 day moving average is $175.55 and its two-hundred day moving average is $168.71. The company has a market capitalization of $7.56 billion, a price-to-earnings ratio of 37.65, a PEG ratio of 1.78 and a beta of 1.45.

Universal Display (NASDAQ:OLEDGet Free Report) last released its earnings results on Thursday, February 22nd. The semiconductor company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.11. The business had revenue of $158.32 million for the quarter, compared to the consensus estimate of $161.08 million. Universal Display had a return on equity of 14.85% and a net margin of 35.22%. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the business earned $1.36 earnings per share.

Hedge Funds Weigh In On Universal Display

A number of hedge funds have recently modified their holdings of OLED. US Bancorp DE lifted its holdings in shares of Universal Display by 44.7% during the first quarter. US Bancorp DE now owns 2,947 shares of the semiconductor company’s stock worth $492,000 after purchasing an additional 911 shares during the period. HighTower Advisors LLC lifted its holdings in Universal Display by 2.0% in the first quarter. HighTower Advisors LLC now owns 9,647 shares of the semiconductor company’s stock valued at $1,610,000 after buying an additional 189 shares during the period. BlackRock Inc. lifted its holdings in Universal Display by 2.8% in the first quarter. BlackRock Inc. now owns 4,309,400 shares of the semiconductor company’s stock valued at $719,455,000 after buying an additional 117,055 shares during the period. Great West Life Assurance Co. Can lifted its holdings in Universal Display by 8.4% in the first quarter. Great West Life Assurance Co. Can now owns 24,038 shares of the semiconductor company’s stock valued at $4,121,000 after buying an additional 1,860 shares during the period. Finally, Yousif Capital Management LLC lifted its holdings in Universal Display by 1.1% in the first quarter. Yousif Capital Management LLC now owns 22,569 shares of the semiconductor company’s stock valued at $3,768,000 after buying an additional 239 shares during the period. Institutional investors and hedge funds own 75.92% of the company’s stock.

Universal Display Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Thursday, March 14th. This is a boost from Universal Display’s previous quarterly dividend of $0.35. Universal Display’s payout ratio is presently 37.74%.

Universal Display Company Profile

(Get Free Report)

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.

Featured Stories

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.