NVIDIA Corporation to Post Q3 2018 Earnings of $0.93 Per Share, Jefferies Group Forecasts (NVDA)
NVIDIA Corporation (NASDAQ:NVDA) – Equities researchers at Jefferies Group increased their Q3 2018 earnings per share (EPS) estimates for NVIDIA Corporation in a research report issued on Friday. Jefferies Group analyst M. Lipacis now expects that the computer hardware maker will post earnings per share of $0.93 for the quarter, up from their prior forecast of $0.77. Jefferies Group has a “Buy” rating and a $180.00 price objective on the stock. Jefferies Group also issued estimates for NVIDIA Corporation’s Q4 2018 earnings at $1.00 EPS and FY2019 earnings at $4.12 EPS.
NVIDIA Corporation (NASDAQ:NVDA) last released its quarterly earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.32. NVIDIA Corporation had a return on equity of 39.59% and a net margin of 27.41%. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the business posted $0.53 earnings per share. The company’s revenue for the quarter was up 56.2% on a year-over-year basis. ILLEGAL ACTIVITY NOTICE: This piece was published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece on another site, it was stolen and republished in violation of US & international copyright and trademark law. The original version of this piece can be read at https://www.thecerbatgem.com/2017/08/16/nvidia-corporation-to-post-q3-2018-earnings-of-0-93-per-share-jefferies-group-forecasts-nvda.html.
Several other analysts have also recently issued reports on the stock. Vetr cut shares of NVIDIA Corporation from a “strong-buy” rating to a “buy” rating and set a $111.03 target price on the stock. in a research report on Tuesday, April 18th. Royal Bank Of Canada restated a “buy” rating and set a $130.00 target price on shares of NVIDIA Corporation in a research report on Tuesday, May 2nd. B. Riley restated a “buy” rating and set a $135.00 target price on shares of NVIDIA Corporation in a research report on Monday, May 8th. Citigroup Inc. restated a “buy” rating and set a $145.00 target price on shares of NVIDIA Corporation in a research report on Wednesday, May 10th. Finally, UBS AG restated a “buy” rating and set a $132.00 target price on shares of NVIDIA Corporation in a research report on Wednesday, May 10th. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nineteen have given a buy rating and three have given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $145.00.
Shares of NVIDIA Corporation (NASDAQ:NVDA) traded down 0.225% on Monday, hitting $166.604. The stock had a trading volume of 7,654,214 shares. The company has a 50 day moving average price of $160.33 and a 200-day moving average price of $128.50. NVIDIA Corporation has a 12 month low of $57.32 and a 12 month high of $174.56. The stock has a market cap of $99.46 billion, a PE ratio of 47.916 and a beta of 1.24.
Several hedge funds and other institutional investors have recently bought and sold shares of NVDA. Janus Henderson Group PLC boosted its position in NVIDIA Corporation by 5,424.4% in the second quarter. Janus Henderson Group PLC now owns 4,096,888 shares of the computer hardware maker’s stock worth $592,244,000 after buying an additional 4,022,728 shares in the last quarter. Wellington Management Group LLP boosted its position in NVIDIA Corporation by 499.0% in the first quarter. Wellington Management Group LLP now owns 4,104,980 shares of the computer hardware maker’s stock worth $447,156,000 after buying an additional 3,419,701 shares in the last quarter. Vanguard Group Inc. boosted its position in NVIDIA Corporation by 7.1% in the second quarter. Vanguard Group Inc. now owns 40,257,187 shares of the computer hardware maker’s stock worth $5,819,579,000 after buying an additional 2,676,976 shares in the last quarter. Ameriprise Financial Inc. boosted its position in NVIDIA Corporation by 46.6% in the first quarter. Ameriprise Financial Inc. now owns 5,257,325 shares of the computer hardware maker’s stock worth $572,695,000 after buying an additional 1,672,231 shares in the last quarter. Finally, Jackson Square Partners LLC bought a new position in NVIDIA Corporation during the second quarter worth about $229,323,000. 68.55% of the stock is owned by institutional investors and hedge funds.
In other NVIDIA Corporation news, Director Harvey C. Jones sold 100,000 shares of the firm’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $150.29, for a total value of $15,029,000.00. Following the completion of the transaction, the director now owns 30,762 shares of the company’s stock, valued at $4,623,220.98. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Tench Coxe sold 50,000 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $164.53, for a total transaction of $8,226,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 572,282 shares of company stock valued at $86,830,082. Corporate insiders own 5.17% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Thursday, August 24th will be issued a $0.14 dividend. The ex-dividend date is Tuesday, August 22nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.34%. NVIDIA Corporation’s dividend payout ratio is currently 15.86%.
About NVIDIA Corporation
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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