3 Reasons to Buy Universal Display After the Stellar First-Quarter Report
Display and lighting technology developer Universal Display (NASDAQ: OLED) just delivered the kind of earnings surprise that usually sends share prices to the moon. Sales rose 19% year over year to $134 million, leaving Wall Street's $120 million consensus projection far behind. Earnings jumped 35%, landing at $1.08 per diluted share. Here, your average analyst would have settled for $0.79 per share. Universal Display's management held its full-year revenue guidance steady at roughly $565 million, which left many investors wondering what's wrong with the growth trend.
The back half of 2021 suddenly looks less exciting since the solid first-quarter surprise didn't boost the full-year guidance. So Universal Display's stock barely moved on the news and continued to trade more than 15% below February's all-time highs. However, growth-minded investors may want to pick up a few shares of the organic light-emitting diode (OLED) expert for three straightforward reasons.
Never mind the potholes, there's a long road ahead. Image source: Getty Images.
Source Fool.com
