Universal Display Corp. (OLED) closed at $176.53 in the latest trading session, marking a -0.01% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.24%. Meanwhile, the Dow lost 0.3%, and the Nasdaq, a tech-heavy index, lost 0.58%.
Coming into today, shares of the organic light-emitting diode technology company had lost 14.34% in the past month. In that same time, the Computer and Technology sector gained 5.16%, while the S&P 500 gained 4.96%.
Wall Street will be looking for positivity from OLED as it approaches its next earnings report date. On that day, OLED is projected to report earnings of $0.57 per share, which would represent year-over-year growth of 18.75%. Our most recent consensus estimate is calling for quarterly revenue of $84.73 million, up 9.26% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.68 per share and revenue of $381.11 million, which would represent changes of +116.13% and +54.04%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for OLED. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. OLED is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, OLED currently has a Forward P/E ratio of 65.82. Its industry sports an average Forward P/E of 18.25, so we one might conclude that OLED is trading at a premium comparatively.
Meanwhile, OLED's PEG ratio is currently 2.19. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. OLED's industry had an average PEG ratio of 1.95 as of yesterday's close.
The Electronics - Miscellaneous Components industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 215, which puts it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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