Zacks: Brokerages Anticipate NVIDIA Co. (NASDAQ:NVDA) Will Post Quarterly Sales of $3.65 Billion

Wall Street analysts expect NVIDIA Co. (NASDAQ:NVDA) to report sales of $3.65 billion for the current quarter, Zacks reports. Nine analysts have made estimates for NVIDIA’s earnings. The lowest sales estimate is $3.65 billion and the highest is $3.67 billion. NVIDIA posted sales of $2.58 billion in the same quarter last year, which would indicate a positive year over year growth rate of 41.5%. The firm is expected to issue its next quarterly earnings results on Thursday, August 20th.

According to Zacks, analysts expect that NVIDIA will report full-year sales of $14.47 billion for the current fiscal year, with estimates ranging from $13.63 billion to $15.09 billion. For the next year, analysts expect that the business will report sales of $17.04 billion, with estimates ranging from $15.64 billion to $18.45 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover NVIDIA.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Thursday, May 21st. The computer hardware maker reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.44. NVIDIA had a return on equity of 28.59% and a net margin of 28.17%. The company had revenue of $3.08 billion during the quarter, compared to analyst estimates of $3 billion. During the same quarter in the previous year, the company posted $0.88 EPS. NVIDIA’s revenue for the quarter was up 38.7% on a year-over-year basis.

A number of equities research analysts have recently weighed in on NVDA shares. Piper Sandler boosted their target price on NVIDIA from $350.00 to $390.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Tigress Financial reissued a “buy” rating on shares of NVIDIA in a research note on Wednesday, April 22nd. Cascend Securities boosted their target price on NVIDIA from $370.00 to $380.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Bank of America reissued a “buy” rating on shares of NVIDIA in a research note on Wednesday, June 17th. Finally, JPMorgan Chase & Co. upped their price target on NVIDIA from $305.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and thirty-two have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $348.70.

In related news, Director Tench Coxe sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $349.08, for a total value of $17,454,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director A Brooke Seawell sold 629 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $366.27, for a total value of $230,383.83. Following the completion of the sale, the director now owns 16,159 shares in the company, valued at approximately $5,918,556.93. The disclosure for this sale can be found here. Insiders sold a total of 204,140 shares of company stock worth $65,498,283 in the last 90 days. 4.47% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of NVDA. Orser Capital Management LLC boosted its stake in NVIDIA by 5.6% during the 4th quarter. Orser Capital Management LLC now owns 10,206 shares of the computer hardware maker’s stock valued at $2,371,000 after purchasing an additional 545 shares during the last quarter. Victory Capital Management Inc. boosted its stake in NVIDIA by 6.7% during the 4th quarter. Victory Capital Management Inc. now owns 1,190,166 shares of the computer hardware maker’s stock valued at $280,046,000 after purchasing an additional 75,203 shares during the last quarter. Acadian Asset Management LLC boosted its stake in NVIDIA by 80.3% during the 4th quarter. Acadian Asset Management LLC now owns 11,329 shares of the computer hardware maker’s stock valued at $2,666,000 after purchasing an additional 5,046 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in NVIDIA by 24.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 12,239 shares of the computer hardware maker’s stock valued at $2,879,000 after purchasing an additional 2,372 shares during the last quarter. Finally, Andra AP fonden boosted its stake in NVIDIA by 68.7% during the 4th quarter. Andra AP fonden now owns 19,400 shares of the computer hardware maker’s stock valued at $4,565,000 after purchasing an additional 7,900 shares during the last quarter. Institutional investors and hedge funds own 68.89% of the company’s stock.

Shares of NASDAQ NVDA traded down $13.40 during midday trading on Friday, reaching $366.20. The company had a trading volume of 14,802,144 shares, compared to its average volume of 11,452,842. NVIDIA has a one year low of $147.39 and a one year high of $385.70. The company has a quick ratio of 9.70, a current ratio of 10.29 and a debt-to-equity ratio of 0.57. The firm’s fifty day moving average price is $351.11 and its 200-day moving average price is $278.64. The stock has a market cap of $225.21 billion, a PE ratio of 68.45, a price-to-earnings-growth ratio of 3.31 and a beta of 1.38.

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were paid a $0.16 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.64 annualized dividend and a dividend yield of 0.17%. NVIDIA’s payout ratio is currently 13.94%.

About NVIDIA

NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. 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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