$2.36 Billion in Sales Expected for NVIDIA Corporation (NVDA) This Quarter
Brokerages expect that NVIDIA Corporation (NASDAQ:NVDA) will announce $2.36 billion in sales for the current fiscal quarter, according to Zacks. Ten analysts have issued estimates for NVIDIA Corporation’s earnings, with the highest sales estimate coming in at $2.41 billion and the lowest estimate coming in at $2.35 billion. NVIDIA Corporation reported sales of $2.00 billion during the same quarter last year, which indicates a positive year over year growth rate of 18%. The firm is scheduled to issue its next earnings report on Thursday, November 9th.
According to Zacks, analysts expect that NVIDIA Corporation will report full year sales of $2.36 billion for the current financial year, with estimates ranging from $8.32 billion to $9.12 billion. For the next fiscal year, analysts forecast that the firm will post sales of $10.03 billion per share, with estimates ranging from $9.05 billion to $10.66 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow NVIDIA Corporation.
NVIDIA Corporation (NASDAQ:NVDA) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the firm posted $0.53 earnings per share. The company’s revenue was up 56.2% on a year-over-year basis.
A number of research analysts have weighed in on the company. UBS AG reissued a “buy” rating and set a $168.00 price target (up previously from $148.00) on shares of NVIDIA Corporation in a research note on Friday, June 9th. Susquehanna Bancshares Inc reissued a “neutral” rating on shares of NVIDIA Corporation in a research note on Monday, July 3rd. B. Riley reaffirmed a “buy” rating and issued a $200.00 target price (up from $135.00) on shares of NVIDIA Corporation in a research report on Monday, August 7th. Vetr lowered NVIDIA Corporation from a “buy” rating to a “hold” rating and set a $142.10 target price on the stock. in a research report on Tuesday, May 23rd. Finally, BidaskClub lowered NVIDIA Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 28th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $150.03.
Shares of NVIDIA Corporation (NASDAQ:NVDA) traded down 0.867% during midday trading on Wednesday, hitting $185.725. The stock had a trading volume of 11,189,963 shares. NVIDIA Corporation has a 12-month low of $63.27 and a 12-month high of $191.20. The stock has a market cap of $111.44 billion, a P/E ratio of 53.415 and a beta of 1.25. The stock has a 50-day moving average price of $167.68 and a 200-day moving average price of $138.76. NVIDIA Corporation also saw unusually large options trading on Monday. Stock investors acquired 104,416 put options on the company. This is an increase of approximately 247% compared to the typical daily volume of 30,111 put options.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 18th. Stockholders of record on Thursday, August 24th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, August 22nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.30%. NVIDIA Corporation’s dividend payout ratio (DPR) is presently 15.86%.
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In other news, Director Harvey C. Jones sold 145,520 shares of NVIDIA Corporation stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $159.31, for a total transaction of $23,182,791.20. Following the sale, the director now owns 30,762 shares of the company’s stock, valued at $4,900,694.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Tench Coxe sold 50,000 shares of NVIDIA Corporation stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $189.62, for a total value of $9,481,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 502,210 shares of company stock worth $81,320,664. Corporate insiders own 5.17% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Meiji Yasuda Life Insurance Co raised its holdings in shares of NVIDIA Corporation by 9.9% during the second quarter. Meiji Yasuda Life Insurance Co now owns 11,070 shares of the computer hardware maker’s stock valued at $1,600,000 after buying an additional 1,000 shares during the last quarter. RB Capital Management LLC bought a new stake in NVIDIA Corporation during the second quarter worth approximately $272,000. Oppenheimer Asset Management Inc. raised its holdings in NVIDIA Corporation by 17.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 18,786 shares of the computer hardware maker’s stock worth $2,715,000 after purchasing an additional 2,836 shares in the last quarter. D. Scott Neal Inc. bought a new stake in NVIDIA Corporation during the second quarter worth approximately $258,000. Finally, Girard Partners LTD. raised its holdings in NVIDIA Corporation by 7.7% during the second quarter. Girard Partners LTD. now owns 3,102 shares of the computer hardware maker’s stock worth $448,000 after purchasing an additional 221 shares in the last quarter. 65.79% of the stock is currently owned by institutional investors.
NVIDIA Corporation Company Profile
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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