Universal Display (NASDAQ:OLED) Releases Quarterly Earnings Results, Beats Expectations By $0.21 EPS

Universal Display (NASDAQ:OLED) issued its quarterly earnings results on Wednesday. The semiconductor company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.21, Briefing.com reports. The firm had revenue of $161.63 million during the quarter, compared to the consensus estimate of $165.28 million. Universal Display had a return on equity of 15.75% and a net margin of 36.98%. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period last year, the company earned $1.08 earnings per share. Universal Display updated its FY 2024 guidance to EPS.

Universal Display Stock Performance

Universal Display stock opened at $180.25 on Friday. Universal Display has a fifty-two week low of $138.60 and a fifty-two week high of $237.00. The firm has a market capitalization of $8.55 billion, a price-to-earnings ratio of 36.19, a price-to-earnings-growth ratio of 1.93 and a beta of 1.43. The stock’s fifty day moving average is $201.32 and its two-hundred day moving average is $193.94.

Universal Display Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a dividend of $0.40 per share. The ex-dividend date is Tuesday, December 17th. This represents a $1.60 annualized dividend and a yield of 0.89%. Universal Display’s dividend payout ratio is presently 32.13%.

Analyst Ratings Changes

OLED has been the subject of several recent analyst reports. TD Cowen reduced their target price on shares of Universal Display from $250.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday. Oppenheimer reduced their price objective on shares of Universal Display from $240.00 to $220.00 and set an “outperform” rating for the company in a research report on Thursday. Roth Mkm boosted their target price on Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Susquehanna raised 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. Finally, The Goldman Sachs Group lifted their price target on Universal Display from $208.00 to $243.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Universal Display presently has an average rating of “Moderate Buy” and an average price target of $215.63.

About Universal Display

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.