Universal Display Co. (NASDAQ:OLED) Plans Quarterly Dividend of $0.45

Universal Display Co. (NASDAQ:OLED) declared a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Shareholders of record on Monday, March 17th will be paid 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 yield of 1.14%. The ex-dividend date is Monday, March 17th. This is a positive change from Universal Display’s previous quarterly dividend of $0.40.

Universal Display has raised its dividend by an average of 26.0% per year over the last three years. Universal Display has a dividend payout ratio of 26.2% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of OLED stock opened at $157.30 on Friday. Universal Display has a 12 month low of $140.17 and a 12 month high of $237.00. The firm’s 50-day moving average is $148.41 and its two-hundred day moving average is $173.75. The company has a market capitalization of $7.47 billion, a PE ratio of 33.83, a price-to-earnings-growth ratio of 1.61 and a beta of 1.39.

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

Wall Street Analyst Weigh In

A number of research firms have commented on OLED. Roth Mkm raised their target price on Universal Display from $207.00 to $213.00 and gave the company a “buy” rating in a report on Friday. The Goldman Sachs Group lowered their price target on shares of Universal Display from $234.00 to $203.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Susquehanna lowered their price target on Universal Display from $165.00 to $160.00 and set a “neutral” rating for the company in a report on Friday. Citigroup dropped their price target on Universal Display from $200.00 to $162.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. Finally, Oppenheimer lowered their target price on Universal Display from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, January 2nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Universal Display has a consensus rating of “Moderate Buy” and an average target price of $190.43.

About Universal Display

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.