NVIDIA Corporation (NVDA) Expected to Post Quarterly Sales of $2.36 Billion
Wall Street analysts expect that NVIDIA Corporation (NASDAQ:NVDA) will announce $2.36 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have issued estimates for NVIDIA Corporation’s earnings, with estimates ranging from $2.35 billion to $2.41 billion. NVIDIA Corporation posted sales of $2.00 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 18%. The firm is expected to report its next quarterly earnings results on Thursday, November 9th.
According to Zacks, analysts expect that NVIDIA Corporation will report full year sales of $2.36 billion for the current fiscal year, with estimates ranging from $8.32 billion to $9.12 billion. For the next fiscal year, analysts expect that the business will report sales of $10.03 billion per share, with estimates ranging from $9.05 billion to $10.66 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for NVIDIA Corporation.
NVIDIA Corporation (NASDAQ:NVDA) last announced its quarterly earnings results on Thursday, August 10th. The computer hardware maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.32. NVIDIA Corporation had a net margin of 27.41% and a return on equity of 39.59%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period in the previous year, the business posted $0.53 earnings per share. The business’s revenue for the quarter was up 56.2% on a year-over-year basis.
NVDA has been the topic of several analyst reports. B. Riley restated a “buy” rating and set a $135.00 price objective on shares of NVIDIA Corporation in a research note on Monday, May 8th. Mizuho reiterated a “buy” rating and issued a $130.00 target price on shares of NVIDIA Corporation in a research report on Wednesday, May 10th. Citigroup Inc reissued a “buy” rating and issued a $145.00 price target on shares of NVIDIA Corporation in a report on Wednesday, May 10th. UBS Group AG reissued a “buy” rating and issued a $132.00 price target on shares of NVIDIA Corporation in a report on Wednesday, May 10th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $155.00 price target (up previously from $125.00) on shares of NVIDIA Corporation in a report on Wednesday, May 10th. Six research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. NVIDIA Corporation currently has a consensus rating of “Hold” and an average price target of $144.98.
In other NVIDIA Corporation news, Director Mark L. Perry sold 16,281 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $162.24, for a total value of $2,641,429.44. Following the sale, the director now owns 48,069 shares of the company’s stock, valued at approximately $7,798,714.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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. Insiders sold a total of 411,801 shares of company stock worth $64,525,721 over the last quarter. Corporate insiders own 5.17% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in NVIDIA Corporation by 7.1% during the 2nd quarter. Vanguard Group Inc. now owns 40,257,187 shares of the computer hardware maker’s stock valued at $5,819,579,000 after acquiring an additional 2,676,976 shares during the period. Edgewood Management LLC raised its holdings in NVIDIA Corporation by 21.9% in the first quarter. Edgewood Management LLC now owns 5,987,970 shares of the computer hardware maker’s stock worth $652,270,000 after buying an additional 1,074,303 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in NVIDIA Corporation by 8.8% in the second quarter. Ameriprise Financial Inc. now owns 5,720,631 shares of the computer hardware maker’s stock worth $827,110,000 after buying an additional 463,306 shares during the last quarter. Janus Capital Management LLC raised its holdings in NVIDIA Corporation by 20.0% in the first quarter. Janus Capital Management LLC now owns 5,368,881 shares of the computer hardware maker’s stock worth $584,832,000 after buying an additional 895,591 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in NVIDIA Corporation by 19.3% in the second quarter. Renaissance Technologies LLC now owns 4,758,793 shares of the computer hardware maker’s stock worth $687,931,000 after buying an additional 768,200 shares during the last quarter. 65.85% of the stock is currently owned by hedge funds and other institutional investors.
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NVIDIA Corporation (NASDAQ:NVDA) traded up 0.60% during trading on Friday, hitting $170.46. 11,135,787 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $165.46 and its 200 day moving average price is $132.97. The firm has a market cap of $102.28 billion, a price-to-earnings ratio of 49.03 and a beta of 1.25. NVIDIA Corporation has a 12-month low of $57.31 and a 12-month high of $174.56.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Thursday, August 24th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend is Tuesday, August 22nd. NVIDIA Corporation’s dividend payout ratio is presently 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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