LG Display (NYSE:LPL) Shares Gap Down - Here's What Happened

Key Points

• LG Display's shares opened at $4.35, down from a previous closing price of $4.88, reflecting a gap down prior to trading on Thursday.
• Among analyst ratings, Wall Street Zen upgraded LG Display to a "buy," while UBS Group downgraded it to a "sell," leading to a consensus rating of "Hold" from five analysts.
• The company reported a loss of ($0.18) earnings per share for the last quarter, missing estimates and causing concern about its financial performance amid a market cap of $4.35 billion.

LG Display Co., Ltd. (NYSE:LPL - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $4.88, but opened at $4.35. LG Display shares last traded at $4.37, with a volume of 287,271 shares.

Wall Street Analysts Forecast Growth

LPL has been the subject of a number of recent analyst reports. Bank of America started coverage on LG Display in a research report on Thursday, April 24th. They issued a "neutral" rating for the company. Morgan Stanley raised shares of LG Display from an "underweight" rating to an "equal weight" rating in a report on Wednesday, June 11th. UBS Group downgraded shares of LG Display from a "neutral" rating to a "sell" rating in a report on Wednesday, August 13th. Finally, Wall Street Zen raised shares of LG Display from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Three investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, LG Display currently has an average rating of "Reduce".

LG Display Stock Performance

The firm has a fifty day moving average price of $3.69 and a 200 day moving average price of $3.31. The company has a current ratio of 0.62, a quick ratio of 0.46 and a debt-to-equity ratio of 1.06. The firm has a market cap of $4.23 billion, a PE ratio of -10.06, a price-to-earnings-growth ratio of 0.26 and a beta of 1.44.

LG Display (NYSE:LPL - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The electronics maker reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.07). The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $3.85 billion. LG Display had a negative return on equity of 7.60% and a negative net margin of 2.25%. As a group, equities research analysts expect that LG Display Co., Ltd. will post 0.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LG Display

A number of institutional investors have recently made changes to their positions in LPL. Fragasso Financial Advisors Inc purchased a new stake in LG Display in the first quarter valued at approximately $32,000. Two Sigma Advisers LP purchased a new stake in LG Display during the fourth quarter worth about $32,000. Creative Planning acquired a new stake in shares of LG Display during the second quarter worth about $39,000. MGO One Seven LLC acquired a new stake in shares of LG Display during the second quarter worth about $40,000. Finally, BSW Wealth Partners purchased a new position in shares of LG Display in the first quarter valued at approximately $42,000.

LG Display Company Profile

LG Display Co, Ltd., together with its subsidiaries, engages in the manufacture and sale of thin-film transistor liquid crystal display (TFT-LCD) and organic light emitting diode (OLED) technology-based display panels. Its TFT-LCD and OLED technology-based display panels are primarily used in televisions, notebook computers, desktop monitors, tablet computers, mobile devices, and automotive displays.