Universal Display Co. Forecasted to Earn Q4 2024 Earnings of $1.29 Per Share (NASDAQ:OLED)

Universal Display Co. (NASDAQ:OLED) – Equities research analysts at Zacks Research raised their Q4 2024 earnings estimates for shares of Universal Display in a research note issued on Wednesday, October 16th. Zacks Research analyst R. Department now forecasts that the semiconductor company will post earnings of $1.29 per share for the quarter, up from their previous estimate of $1.28. The consensus estimate for Universal Display’s current full-year earnings is $4.81 per share.

Universal Display (NASDAQ:OLED) last posted its quarterly earnings data on Thursday, August 1st. The semiconductor company reported $1.10 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.04). Universal Display had a return on equity of 15.25% and a net margin of 35.74%. The company had revenue of $158.50 million for the quarter, compared to analyst estimates of $159.46 million. During the same quarter in the previous year, the firm posted $1.04 earnings per share. The company’s quarterly revenue was up 8.1% on a year-over-year basis.

Other equities research analysts also recently issued research reports about the company. Needham & Company LLC lifted their target price on Universal Display from $198.00 to $242.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. The Goldman Sachs Group upped their price objective on shares of Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a report on Thursday, July 18th. TD Cowen raised their target price on shares of Universal Display from $210.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Roth Mkm boosted their price objective on Universal Display from $189.00 to $217.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Susquehanna boosted their price target on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Universal Display currently has a consensus rating of “Moderate Buy” and an average price target of $225.88.

Universal Display Stock Performance

Shares of OLED opened at $201.88 on Thursday. The stock has a 50-day moving average of $197.25 and a two-hundred day moving average of $191.07. The stock has a market cap of $9.58 billion, a P/E ratio of 43.32, a P/E/G ratio of 2.20 and a beta of 1.42. Universal Display has a one year low of $133.67 and a one year high of $237.00.

Institutional Investors Weigh In On Universal Display

A number of institutional investors have recently added to or reduced their stakes in OLED. Red Spruce Capital LLC grew its position in shares of Universal Display by 0.7% in the second quarter. Red Spruce Capital LLC now owns 11,146 shares of the semiconductor company’s stock valued at $2,343,000 after purchasing an additional 76 shares during the period. CIBC Asset Management Inc increased its stake in Universal Display by 7.6% during the 2nd quarter. CIBC Asset Management Inc now owns 1,351 shares of the semiconductor company’s stock worth $284,000 after buying an additional 96 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Universal Display by 42.1% during the third quarter. UMB Bank n.a. now owns 324 shares of the semiconductor company’s stock valued at $68,000 after acquiring an additional 96 shares during the last quarter. Bahl & Gaynor Inc. lifted its position in shares of Universal Display by 0.5% in the first quarter. Bahl & Gaynor Inc. now owns 18,645 shares of the semiconductor company’s stock valued at $3,141,000 after acquiring an additional 101 shares in the last quarter. Finally, Inspire Investing LLC boosted its stake in shares of Universal Display by 5.4% in the first quarter. Inspire Investing LLC now owns 2,107 shares of the semiconductor company’s stock worth $355,000 after acquiring an additional 108 shares during the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.

Universal Display Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Monday, September 16th. Universal Display’s payout ratio is 34.33%.

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 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.