Universal Display Co. (NASDAQ:OLED) Plans Dividend Increase – $0.45 Per Share

Universal Display Co. (NASDAQ:OLED) announced a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Shareholders of record on Monday, March 17th will be given a dividend of 0.45 per share by the semiconductor company on Monday, March 31st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from Universal Display’s previous quarterly dividend of $0.40.

Universal Display has raised its dividend payment by an average of 26.0% annually over the last three years. Universal Display has a payout ratio of 26.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Universal Display to earn $5.41 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 29.6%.

Universal Display Stock Performance

OLED opened at $157.30 on Friday. The company’s 50-day simple moving average is $148.41 and its two-hundred day simple moving average is $173.75. Universal Display has a 52-week low of $140.17 and a 52-week high of $237.00. The stock has a market capitalization of $7.47 billion, a P/E ratio of 33.83, a P/E/G ratio of 1.61 and a beta of 1.39.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, February 20th. The semiconductor company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.14. Universal Display had a return on equity of 15.51% and a net margin of 34.29%. The firm had revenue of $162.29 million for the quarter, compared to the consensus estimate of $152.75 million. Research analysts forecast that Universal Display will post 4.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

OLED has been the subject of several recent research reports. The Goldman Sachs Group cut their target price on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Citigroup decreased their target price on Universal Display from $200.00 to $162.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Roth Mkm upped their price target on Universal Display from $207.00 to $213.00 and gave the stock a “buy” rating in a research report on Friday. TD Cowen decreased their price objective on Universal Display from $250.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Finally, Susquehanna cut their price objective on Universal Display from $165.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Universal Display presently has a consensus rating of “Moderate Buy” and an average price target of $190.43.

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.