The upcoming report from Universal Display Corp. (OLED) is expected to reveal quarterly earnings of $1.07 per share, indicating a decline of 17.1% compared to the year-ago period. Analysts forecast revenues of $148.67 million, representing a decrease of 6.1% year over year.
The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
That said, let's delve into the average estimates of some Universal Display metrics that Wall Street analysts commonly model and monitor.
The combined assessment of analysts suggests that 'Revenue- Material sales' will likely reach $78.92 million. The estimate indicates a change of -4% from the prior-year quarter.
It is projected by analysts that the 'Revenue- Contract research services' will reach $4.29 million. The estimate indicates a year-over-year change of +33.5%.
The consensus among analysts is that 'Revenue- Royalty and license fees' will reach $65.14 million. The estimate indicates a change of -10.6% from the prior-year quarter.
View all Key Company Metrics for Universal Display here>>>
Universal Display shares have witnessed a change of -4.5% in the past month, in contrast to the Zacks S&P 500 composite's +4.7% move. With a Zacks Rank #3 (Hold), OLED is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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