Universal Display Corp. (OLED) Trading Down 3.9%
Shares of Universal Display Corp. (NASDAQ:OLED) were down 3.9% during trading on Wednesday . The stock traded as low as $56.95 and last traded at $57.17, with a volume of 398,434 shares changing hands. The stock had previously closed at $59.47.
Several analysts have recently commented on OLED shares. Gabelli cut shares of Universal Display Corp. from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a research note on Friday, May 6th. Needham & Company LLC cut shares of Universal Display Corp. to a “buy” rating and increased their price target for the company from $57.00 to $62.00 in a research note on Sunday, May 8th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Universal Display Corp. in a research note on Monday, May 9th. Zacks Investment Research cut shares of Universal Display Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, May 10th. Finally, Goldman Sachs Group Inc. raised shares of Universal Display Corp. from a “neutral” rating to a “buy” rating and set a $76.00 price target on the stock in a research note on Monday, May 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. Universal Display Corp. presently has a consensus rating of “Hold” and an average price target of $58.00.
The stock has a market cap of $2.71 billion and a P/E ratio of 56.28. The firm has a 50 day moving average of $64.99 and a 200-day moving average of $60.21.
Universal Display Corp. (NASDAQ:OLED) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by $0.04. The firm earned $64.40 million during the quarter, compared to analysts’ expectations of $68.68 million. Universal Display Corp.’s revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 earnings per share. Equities research analysts anticipate that Universal Display Corp. will post $0.89 EPS for the current year.
Universal Display Corporation is engaged in the research, development and commercialization of organic light emitting diode (OLED), technologies and materials for use in displays for wearables, smartphones, tablets and televisions, as well as solid-state lighting applications. The Company’s flat panel displays are used for various portable consumer electronics products, such as mobile phones, wearables, portable media devices, digital cameras, tablets and notebook computers.
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