LG Display (NYSE:LPL) Shares Gap Up - Here's Why

Key Points

• LG Display shares jumped at Friday’s open, rising from a previous close of $3.37 to $3.54 and last trading near $3.58.
• Analyst sentiment remains negative: Weiss Ratings and Zacks Research downgraded the stock, while MarketBeat reports an average rating of “Sell.”
• The company reported a quarterly loss of $0.26 per share on $3.62 billion in revenue, and analysts expect a full-year loss of approximately $0.34 per share.

LG Display Co., Ltd. (NYSE:LPL - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $3.37, but opened at $3.54. LG Display shares last traded at $3.5750, with a volume of 273,331 shares trading hands.

Wall Street Analysts Forecast Growth

LPL has been the subject of several recent research reports. Weiss Ratings lowered LG Display from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday, June 23rd. Zacks Research downgraded shares of LG Display from a "hold" rating to a "strong sell" rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, LG Display has an average rating of "Sell".

LG Display Stock Performance

The business's fifty day moving average price is $3.74 and its two-hundred day moving average price is $4.19. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.22 and a current ratio of 0.34. The stock has a market capitalization of $3.54 billion, a P/E ratio of -177.25 and a beta of 1.68.

LG Display (NYSE:LPL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 1st. The electronics maker reported ($0.26) EPS for the quarter. The business had revenue of $3.62 billion during the quarter. LG Display had a negative net margin of 0.18% and a negative return on equity of 0.68%. As a group, sell-side analysts forecast that LG Display Co., Ltd. will post -0.34 earnings per share for the current year.

Hedge Funds Weigh In On LG Display

Institutional investors and hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers lifted its position in LG Display by 18.8% in the first quarter. Cetera Investment Advisers now owns 14,580 shares of the electronics maker's stock worth $57,000 after buying an additional 2,308 shares during the last quarter. CWM LLC increased its position in LG Display by 14.4% during the fourth quarter. CWM LLC now owns 27,617 shares of the electronics maker's stock valued at $116,000 after acquiring an additional 3,469 shares during the last quarter. GAMMA Investing LLC increased its position in LG Display by 4.6% during the second quarter. GAMMA Investing LLC now owns 87,102 shares of the electronics maker's stock valued at $339,000 after acquiring an additional 3,808 shares during the last quarter. Inspire Investing LLC raised its stake in shares of LG Display by 30.0% in the first quarter. Inspire Investing LLC now owns 20,153 shares of the electronics maker's stock valued at $78,000 after acquiring an additional 4,654 shares during the period. Finally, Ieq Capital LLC raised its stake in shares of LG Display by 4.2% in the fourth quarter. Ieq Capital LLC now owns 120,985 shares of the electronics maker's stock valued at $509,000 after acquiring an additional 4,870 shares during the period.

LG Display Company Profile

LG Display Co, Ltd., headquartered in Seoul, South Korea, is a global manufacturer of thin-film transistor liquid crystal display (TFT-LCD) and organic light-emitting diode (OLED) panels. The company designs and produces display solutions for a wide range of applications, including televisions, desktop monitors, notebook computers, tablets, smartphones, signage and automotive screens. Its product offerings span large-screen television modules, ultra-high definition monitors, flexible and transparent OLED displays, and specialized industrial panels.

LG Display operates a network of production facilities and research centers across Asia, including major manufacturing sites in Paju and Gumi, South Korea, as well as Wuhan, China.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source