$1.11 EPS Expected for NVIDIA Co. (NASDAQ:(NVDA)) This Quarter
Wall Street analysts forecast that NVIDIA Co. (NASDAQ:(NVDA)) will post earnings of $1.11 per share for the current quarter, according to Zacks. Nine analysts have issued estimates for NVIDIA’s earnings. The highest EPS estimate is $1.13 and the lowest is $1.10. NVIDIA posted earnings per share of $0.73 in the same quarter last year, which would indicate a positive year over year growth rate of 52.1%. The business is expected to report its next quarterly earnings report on Wednesday, November 17th.
On average, analysts expect that NVIDIA will report full year earnings of $4.20 per share for the current financial year, with EPS estimates ranging from $4.06 to $5.02. For the next financial year, analysts expect that the company will report earnings of $4.59 per share, with EPS estimates ranging from $4.34 to $4.91. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow NVIDIA.
NVIDIA (NASDAQ:(NVDA)) last issued its quarterly earnings results on Tuesday, August 17th. The computer hardware maker reported $1.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.02. The business had revenue of $6.51 billion for the quarter, compared to analysts’ expectations of $6.34 billion. NVIDIA had a net margin of 32.33% and a return on equity of 40.88%. The company’s revenue was up 68.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.54 EPS.
Several research analysts have recently weighed in on the stock. Credit Suisse Group lifted their price target on shares of NVIDIA from $175.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, August 19th. Susquehanna Bancshares lifted their target price on shares of NVIDIA from $180.00 to $220.00 and gave the company a “positive” rating in a research note on Thursday, August 19th. Raymond James lifted their target price on shares of NVIDIA from $187.50 to $225.00 and gave the company a “strong-buy” rating in a research note on Tuesday, June 22nd. Barclays lifted their target price on shares of NVIDIA from $205.00 to $225.00 and gave the company an “overweight” rating in a research note on Thursday, August 19th. Finally, Zacks Investment Research upgraded shares of NVIDIA from a “hold” rating to a “buy” rating and set a $231.00 target price on the stock in a research note on Tuesday, August 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $212.79.
In other news, CEO Jen Hsun Huang sold 400,000 shares of the company’s stock in a transaction that occurred on Monday, August 2nd. The shares were sold at an average price of $197.14, for a total value of $78,856,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Dabiri sold 34 shares of the company’s stock in a transaction that occurred on Monday, June 21st. The stock was sold at an average price of $736.60, for a total transaction of $25,044.40. Following the completion of the sale, the director now directly owns 1,393 shares of the company’s stock, valued at approximately $1,026,083.80. The disclosure for this sale can be found here. Insiders have sold a total of 435,784 shares of company stock worth $89,734,624 over the last quarter. 4.47% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Edgewood Management LLC lifted its position in NVIDIA by 238.8% during the second quarter. Edgewood Management LLC now owns 17,989,080 shares of the computer hardware maker’s stock valued at $3,598,266,000 after acquiring an additional 12,678,710 shares during the last quarter. Amundi acquired a new position in NVIDIA during the 2nd quarter valued at approximately $1,824,062,000. GQG Partners LLC increased its stake in NVIDIA by 87.6% during the 2nd quarter. GQG Partners LLC now owns 3,715,358 shares of the computer hardware maker’s stock valued at $2,971,965,000 after purchasing an additional 1,735,207 shares in the last quarter. Vulcan Value Partners LLC acquired a new position in NVIDIA during the 1st quarter valued at approximately $755,933,000. Finally, Artisan Partners Limited Partnership increased its stake in NVIDIA by 719.6% during the 1st quarter. Artisan Partners Limited Partnership now owns 767,455 shares of the computer hardware maker’s stock valued at $409,767,000 after purchasing an additional 891,313 shares in the last quarter. 16.88% of the stock is owned by hedge funds and other institutional investors.
Shares of NVIDIA stock opened at $222.56 on Wednesday. The company’s fifty day simple moving average is $206.28 and its 200-day simple moving average is $172.49. The stock has a market capitalization of $554.62 billion, a PE ratio of 79.29, a P/E/G ratio of 3.57 and a beta of 1.36. NVIDIA has a 1-year low of $115.67 and a 1-year high of $230.43. The company has a debt-to-equity ratio of 0.52, a current ratio of 5.80 and a quick ratio of 5.33.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 23rd. Investors of record on Wednesday, September 1st will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, August 31st. This represents a $0.16 annualized dividend and a yield of 0.07%. NVIDIA’s payout ratio is 7.77%.
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment comprises of product brands, which aims 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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