NVIDIA Co. (NVDA) Expected to Announce Quarterly Sales of $3.25 Billion

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Wall Street analysts predict that NVIDIA Co. (NASDAQ:NVDA) will report sales of $3.25 billion for the current fiscal quarter, Zacks reports. Ten analysts have made estimates for NVIDIA’s earnings, with the highest sales estimate coming in at $3.31 billion and the lowest estimate coming in at $3.21 billion. NVIDIA reported sales of $2.64 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 23.1%. The business is scheduled to announce its next quarterly earnings results on Thursday, November 8th.

According to Zacks, analysts expect that NVIDIA will report full year sales of $13.02 billion for the current year, with estimates ranging from $12.88 billion to $13.15 billion. For the next fiscal year, analysts expect that the firm will post sales of $14.70 billion, with estimates ranging from $14.10 billion to $15.01 billion. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for NVIDIA.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Thursday, August 16th. The computer hardware maker reported $1.94 EPS for the quarter, topping the consensus estimate of $1.66 by $0.28. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.11 billion. NVIDIA had a net margin of 36.21% and a return on equity of 54.18%. The firm’s revenue for the quarter was up 40.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 earnings per share.

Several research firms have recently commented on NVDA. Zacks Investment Research downgraded shares of NVIDIA from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. FBN Securities initiated coverage on shares of NVIDIA in a research report on Tuesday, June 26th. They set an “outperform” rating and a $300.00 target price for the company. Needham & Company LLC increased their target price on shares of NVIDIA from $325.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, September 14th. Evercore ISI increased their target price on shares of NVIDIA from $300.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, September 28th. Finally, Morgan Stanley reissued an “overweight” rating and set a $273.00 target price on shares of NVIDIA in a research report on Friday, August 17th. Ten research analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $293.09.

Shares of NASDAQ:NVDA traded up $11.41 during midday trading on Wednesday, hitting $246.54. 15,113,097 shares of the company’s stock were exchanged, compared to its average volume of 12,731,036. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.41 and a quick ratio of 6.66. The company has a market cap of $170.86 billion, a PE ratio of 52.79, a PEG ratio of 3.68 and a beta of 1.64. NVIDIA has a 12 month low of $180.58 and a 12 month high of $292.76.

The company also recently announced a quarterly dividend, which was paid on Friday, September 21st. Shareholders of record on Thursday, August 30th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend was Wednesday, August 29th. NVIDIA’s dividend payout ratio is presently 12.85%.

In other NVIDIA news, CFO Colette Kress sold 11,576 shares of the stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $266.31, for a total value of $3,082,804.56. Following the sale, the chief financial officer now directly owns 297,482 shares in the company, valued at approximately $79,222,431.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ajay K. Puri sold 90,831 shares of the stock in a transaction that occurred on Tuesday, October 2nd. The stock was sold at an average price of $289.35, for a total transaction of $26,281,949.85. Following the completion of the sale, the executive vice president now owns 184,001 shares in the company, valued at $53,240,689.35. The disclosure for this sale can be found here. Insiders sold a total of 113,707 shares of company stock worth $32,347,973 over the last quarter. Corporate insiders own 4.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Kwmg LLC purchased a new stake in shares of NVIDIA during the 2nd quarter valued at $105,000. Legacy Financial Advisors Inc. lifted its holdings in NVIDIA by 111.0% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 443 shares of the computer hardware maker’s stock valued at $110,000 after purchasing an additional 233 shares in the last quarter. Almanack Investment Partners LLC. purchased a new position in NVIDIA in the 2nd quarter valued at $127,000. Ropes Wealth Advisors LLC lifted its holdings in NVIDIA by 561.8% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 589 shares of the computer hardware maker’s stock valued at $140,000 after purchasing an additional 500 shares in the last quarter. Finally, Rockefeller Capital Management L.P. purchased a new position in NVIDIA in the 2nd quarter valued at $159,000. Institutional investors and hedge funds own 65.69% of the company’s stock.

About NVIDIA

NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.

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