Universal Display Co. (OLED) To Go Ex-Dividend on June 14th

Universal Display Co. (NASDAQ:OLED) announced a quarterly dividend on Thursday, May 2nd, Zacks reports. Stockholders of record on Friday, June 14th will be given a dividend of 0.40 per share by the semiconductor company on Friday, June 28th. This represents a $1.60 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, June 14th.

Universal Display has increased its dividend by an average of 32.6% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Universal Display has a payout ratio of 28.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Universal Display to earn $5.39 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 29.7%.

Universal Display Price Performance

Shares of OLED stock traded up $14.50 during trading on Friday, reaching $170.82. The company had a trading volume of 736,345 shares, compared to its average volume of 256,763. The firm’s 50 day simple moving average is $163.28 and its two-hundred day simple moving average is $169.01. Universal Display has a one year low of $131.00 and a one year high of $194.84. The company has a market capitalization of $8.10 billion, a PE ratio of 37.13, a PEG ratio of 1.70 and a beta of 1.44.

Universal Display (NASDAQ:OLED) last released its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.14. The company had revenue of $165.26 million for the quarter, compared to analyst estimates of $150.75 million. Universal Display had a net margin of 36.00% and a return on equity of 15.84%. The company’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.83 earnings per share. Analysts forecast that Universal Display will post 4.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on OLED. Citigroup restated a “neutral” rating and issued a $180.00 price objective (up previously from $161.00) on shares of Universal Display in a research note on Friday, January 19th. Oppenheimer restated an “outperform” rating and set a $200.00 price objective (down previously from $210.00) on shares of Universal Display in a report on Friday, February 23rd. TD Cowen increased their target price on shares of Universal Display from $165.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Finally, Needham & Company LLC restated a “buy” rating and set a $198.00 price objective on shares of Universal Display in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.86.

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.