Zacks: Analysts Expect NVIDIA Co. (NASDAQ: NVDA) to Report Quarterly Sales of $8.12 Billion
Brokers expect NVIDIA Co. (NASDAQ:NVDA – Get Rating) to announce sales of $8.12 billion for the current quarter, reports Zacks Investment Research. Ten analysts provided NVIDIA earnings estimates, with estimates ranging from $8.10 billion to $8.20 billion. NVIDIA reported sales of $6.51 billion in the same quarter last year, indicating a positive year-over-year growth rate of 24.7%. The company is due to announce its next quarterly earnings report on Monday, January 1.
According to Zacks, analysts expect NVIDIA to report annual sales of $33.94 billion for the current fiscal year, with estimates ranging from $33.11 billion to $35.09 billion. For the next fiscal year, analysts expect the company to post sales of $38.47 billion, with estimates ranging from $36.62 billion to $39.44 billion. Zacks sales averages are an average average based on a survey of research analysts who cover NVIDIA.
NVIDIA (NASDAQ:NVDA – Get Rating) last released quarterly earnings data on Wednesday, May 25. The hardware maker reported earnings per share of $1.36 for the quarter, beating the consensus estimate of $1.29 by $0.07. NVIDIA had a return on equity of 43.81% and a net margin of 32.02%. The company posted revenue of $8.29 billion in the quarter, versus analyst estimates of $8.09 billion. In the same period a year earlier, the company posted earnings of $0.78 per share. The company’s revenue for the quarter increased by 46.4% compared to the same quarter last year.
A number of research companies have weighed in on NVDA. Barclays cut its price target on NVIDIA from $350.00 to $295.00 and set an “overweight” rating on the stock in a Monday, April 25 research note. Citigroup lowered its price target on NVIDIA from $350.00 to $315.00 and set a “buy” rating on the stock in a Thursday, May 26 report. Susquehanna lowered its price target on NVIDIA from $280.00 to $260.00 in a Thursday, May 26 report. Wells Fargo & Company lowered its price target on NVIDIA from $370.00 to $250.00 and set an “overweight” rating on the stock in a Friday, May 20 report. Finally, Cowen lowered his price target on NVIDIA from $350.00 to $265.00 and set an “outperform” rating on the stock in a Thursday, May 26 report. Eight analysts gave the stock a hold rating, twenty-seven gave the stock a buy rating and one gave the stock a strong buy rating. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $269.77.
NASDAQ NVDA shares opened at $187.20 on Friday. The stock has a market capitalization of $468 billion, a P/E ratio of 50.19, a PEG ratio of 2.63 and a beta of 1.59. The company has a current ratio of 5.32, a quick ratio of 4.75 and a debt ratio of 0.42. NVIDIA has a 12-month low of $155.67 and a 12-month high of $346.47. The company’s 50-day simple moving average is $204.27 and its 200-day simple moving average is $246.54.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 1. Investors of record on Thursday, June 9 will receive a dividend of $0.04 per share. This represents a dividend of $0.16 on an annualized basis and a yield of 0.09%. The ex-dividend date is Wednesday, June 8. NVIDIA’s dividend payout ratio is currently 4.29%.
In other news, director Tench Coxe sold 100,000 shares of the company in a deal that took place on Monday, March 28. The shares were sold at an average price of $274.06, for a total value of $27,406,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, director John Dabiri sold 2,200 shares of the company in a trade that took place on Friday, May 27. The shares were sold at an average price of $185.59, for a total transaction of $408,298.00. Following completion of the transaction, the director now owns 2,712 shares of the company, valued at approximately $503,320.08. The disclosure of this sale can be found here. In the past 90 days, insiders have sold 118,916 shares of the company valued at $32,223,979. Company insiders hold 4.47% of the company’s shares.
A number of hedge funds have recently changed their positions in NVDA. Piscataqua Savings Bank increased its position in NVIDIA by 14.3% during the fourth quarter. Piscataqua Savings Bank now owns 320 shares of the hardware maker worth $94,000 after buying 40 more shares in the last quarter. Venture Visionary Partners LLC increased its stake in NVIDIA shares by 0.3% in the fourth quarter. Venture Visionary Partners LLC now owns 15,776 shares of the hardware maker valued at $4,639,000 after buying 43 additional shares in the last quarter. Warren Averett Asset Management LLC increased its stake in NVIDIA by 0.7% during the third quarter. Warren Averett Asset Management LLC now owns 5,997 shares of the hardware maker worth $1,822,000 after acquiring 44 more shares in the last quarter. Tranquility Partners LLC increased its stake in NVIDIA by 1.0% during the fourth quarter. Tranquility Partners LLC now owns 4,384 shares of the hardware maker worth $1,290,000 after acquiring 44 more shares in the last quarter. Finally, Bedel Financial Consulting Inc. increased its stake in NVIDIA shares by 2.3% in the fourth quarter. Bedel Financial Consulting Inc. now owns 1,976 shares of the hardware maker valued at $581,000 after buying 45 more shares last quarter. Hedge funds and other institutional investors own 55.19% of the company’s shares.
About NVIDIA (Get a rating)
NVIDIA Corporation provides graphics, computing, and networking solutions in the United States, Taiwan, China, and around the world. The Company’s Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPU for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for creating 3D designs and virtual worlds.
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