Universal Display Co. to Post FY2024 Earnings of $4.75 Per Share, Zacks Research Forecasts (NASDAQ:OLED)

Universal Display Co. (NASDAQ:OLED) – Analysts at Zacks Research upped their FY2024 earnings per share (EPS) estimates for Universal Display in a research note issued to investors on Monday, September 16th. Zacks Research analyst R. Department now expects that the semiconductor company will post earnings of $4.75 per share for the year, up from their previous forecast of $4.74. The consensus estimate for Universal Display’s current full-year earnings is $4.81 per share. Zacks Research also issued estimates for Universal Display’s Q4 2024 earnings at $1.28 EPS, Q2 2025 earnings at $1.16 EPS, Q3 2025 earnings at $1.45 EPS, Q4 2025 earnings at $1.52 EPS, FY2025 earnings at $5.24 EPS, Q1 2026 earnings at $1.41 EPS, Q2 2026 earnings at $1.63 EPS and FY2026 earnings at $6.50 EPS.

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

A number of other research analysts have also weighed in on the company. Susquehanna raised their target price on Universal Display from $170.00 to $175.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Needham & Company LLC raised their price objective on Universal Display from $198.00 to $242.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. The Goldman Sachs Group upped their target price on shares of Universal Display from $208.00 to $243.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Oppenheimer raised their price target on shares of Universal Display from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, July 3rd. Finally, Roth Mkm upped their price objective on shares of Universal Display from $189.00 to $217.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $225.88.

Universal Display Price Performance

OLED opened at $210.85 on Thursday. The firm has a market capitalization of $10.00 billion, a PE ratio of 46.00, a P/E/G ratio of 2.17 and a beta of 1.41. Universal Display has a fifty-two week low of $133.67 and a fifty-two week high of $237.00. The company’s 50-day moving average is $199.11 and its 200 day moving average is $185.16.

Universal Display Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.40 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.76%. Universal Display’s dividend payout ratio (DPR) is presently 34.78%.

Institutional Trading of Universal Display

Several hedge funds have recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Universal Display in the 2nd quarter worth about $127,668,000. Norges Bank purchased a new position in shares of Universal Display in the fourth quarter worth about $101,088,000. Janus Henderson Group PLC raised its position in shares of Universal Display by 66.6% in the first quarter. Janus Henderson Group PLC now owns 434,029 shares of the semiconductor company’s stock valued at $73,099,000 after purchasing an additional 173,496 shares during the period. CloudAlpha Capital Management Limited Hong Kong purchased a new stake in shares of Universal Display during the 2nd quarter valued at approximately $34,558,000. Finally, Strategic Financial Concepts LLC bought a new position in Universal Display in the 2nd quarter worth approximately $23,500,000. 78.19% of the stock is currently owned by institutional investors.

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.