Brokerages Anticipate NVIDIA Co. (NASDAQ:NVDA) Will Post Quarterly Sales of $6.83 Billion

Equities research analysts expect that NVIDIA Co. (NASDAQ:NVDA) will announce $6.83 billion in sales for the current quarter, according to Zacks Investment Research. Nine analysts have provided estimates for NVIDIA’s earnings, with the lowest sales estimate coming in at $6.80 billion and the highest estimate coming in at $6.94 billion. NVIDIA reported sales of $4.73 billion during the same quarter last year, which would suggest a positive year over year growth rate of 44.4%. The firm is expected to announce its next earnings results on Wednesday, November 17th.

According to Zacks, analysts expect that NVIDIA will report full-year sales of $25.81 billion for the current financial year, with estimates ranging from $25.53 billion to $26.12 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $29.01 billion, with estimates ranging from $27.46 billion to $30.19 billion. Zacks’ sales averages are an average based on a survey of research firms that cover NVIDIA.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Tuesday, August 17th. The computer hardware maker reported $1.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.02. The business had revenue of $6.51 billion during the quarter, compared to the consensus estimate of $6.34 billion. NVIDIA had a return on equity of 40.88% and a net margin of 32.33%. The business’s revenue was up 68.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 earnings per share.

Several equities analysts have recently issued reports on NVDA shares. Piper Sandler boosted their price objective on NVIDIA from $172.50 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday, August 19th. Wells Fargo & Company upped their price target on NVIDIA from $219.00 to $245.00 and gave the company an “overweight” rating in a report on Thursday, August 12th. Summit Insights cut NVIDIA from a “hold” rating to a “sell” rating in a report on Thursday, August 19th. BMO Capital Markets upped their price target on NVIDIA from $187.50 to $250.00 and gave the company an “outperform” rating in a report on Thursday, July 1st. Finally, Barclays upped their price target on NVIDIA from $205.00 to $225.00 and gave the company an “overweight” rating in a report on Thursday, August 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $214.30.

In other NVIDIA news, Director Dawn E. Hudson sold 5,750 shares of the business’s stock in a transaction on Monday, June 28th. The shares were sold at an average price of $774.24, for a total transaction of $4,451,880.00. Following the completion of the transaction, the director now owns 26,428 shares of the company’s stock, valued at approximately $20,461,614.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert K. Burgess sold 20,000 shares of the business’s stock in a transaction on Tuesday, August 24th. The stock was sold at an average price of $218.38, for a total transaction of $4,367,600.00. The disclosure for this sale can be found here. Insiders sold 435,750 shares of company stock valued at $89,709,580 over the last quarter. 4.47% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in NVDA. Vanguard Group Inc. raised its position in NVIDIA by 0.7% in the second quarter. Vanguard Group Inc. now owns 48,318,201 shares of the computer hardware maker’s stock worth $38,659,392,000 after purchasing an additional 332,992 shares in the last quarter. State Street Corp raised its position in NVIDIA by 0.7% in the second quarter. State Street Corp now owns 24,401,854 shares of the computer hardware maker’s stock worth $19,527,743,000 after purchasing an additional 181,637 shares in the last quarter. Edgewood Management LLC raised its position in NVIDIA by 238.8% in the second quarter. Edgewood Management LLC now owns 17,989,080 shares of the computer hardware maker’s stock worth $3,598,266,000 after purchasing an additional 12,678,710 shares in the last quarter. Geode Capital Management LLC raised its position in NVIDIA by 1.8% in the second quarter. Geode Capital Management LLC now owns 9,850,485 shares of the computer hardware maker’s stock worth $7,858,376,000 after purchasing an additional 173,823 shares in the last quarter. Finally, Jennison Associates LLC raised its position in NVIDIA by 4.2% in the second quarter. Jennison Associates LLC now owns 7,452,319 shares of the computer hardware maker’s stock worth $5,962,600,000 after purchasing an additional 302,271 shares in the last quarter. 16.88% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ NVDA traded down $10.71 during midday trading on Friday, hitting $208.29. 1,127,294 shares of the company’s stock were exchanged, compared to its average volume of 34,145,000. 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 stock’s 50 day moving average price is $207.52 and its 200-day moving average price is $174.35. The firm has a market cap of $519.06 billion, a P/E ratio of 76.16, a PEG ratio of 3.57 and a beta of 1.36. NVIDIA has a twelve month low of $115.67 and a twelve month high of $230.43.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 23rd. Investors of record on Wednesday, September 1st will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.08%. The ex-dividend date is Tuesday, August 31st. NVIDIA’s dividend payout ratio is presently 7.77%.

About NVIDIA

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.

Read More: Technical Analysis

Get a free copy of the Zacks research report on NVIDIA (NVDA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for NVIDIA (NASDAQ:NVDA)

Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.