Universal Display Co. (NASDAQ:OLED) to Issue $0.40 Quarterly Dividend

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

Universal Display has raised its dividend by an average of 32.6% per year 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% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Up 9.3 %

Shares of NASDAQ:OLED traded up $14.50 during trading on Friday, hitting $170.82. 736,345 shares of the company traded hands, compared to its average volume of 256,763. The business’s fifty day moving average is $163.28 and its 200-day moving average is $169.01. The stock has a market capitalization of $8.10 billion, a price-to-earnings ratio of 37.13, a PEG ratio of 1.70 and a beta of 1.44. Universal Display has a one year low of $131.00 and a one year high of $194.84.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.14. The firm had revenue of $165.26 million during the quarter, compared to the consensus estimate of $150.75 million. Universal Display had a return on equity of 15.84% and a net margin of 36.00%. The firm’s revenue was up 26.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.83 EPS. On average, analysts forecast that Universal Display will post 4.72 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Citigroup restated a “neutral” rating and issued a $180.00 target price (up previously from $161.00) on shares of Universal Display in a research report on Friday, January 19th. TD Cowen boosted their price objective on Universal Display from $165.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Needham & Company LLC restated a “buy” rating and issued a $198.00 target price on shares of Universal Display in a research report on Friday. Finally, Oppenheimer reiterated an “outperform” rating and set a $200.00 price target (down previously from $210.00) on shares of Universal Display in a research report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.