Zacks: Analysts Anticipate NVIDIA Co. (NVDA) to Post $1.99 Earnings Per Share

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Equities analysts forecast that NVIDIA Co. (NASDAQ:NVDA) will announce earnings of $1.99 per share for the current quarter, Zacks reports. Ten analysts have provided estimates for NVIDIA’s earnings. The highest EPS estimate is $2.18 and the lowest is $1.86. NVIDIA posted earnings of $1.33 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 49.6%. The company is scheduled to report its next earnings report on Thursday, November 8th.

According to Zacks, analysts expect that NVIDIA will report full-year earnings of $7.91 per share for the current fiscal year, with EPS estimates ranging from $7.37 to $8.34. For the next financial year, analysts forecast that the company will post earnings of $8.54 per share, with EPS estimates ranging from $6.80 to $9.44. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for NVIDIA.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Thursday, August 16th. The computer hardware maker reported $1.94 EPS for the quarter, topping the Zacks’ consensus estimate of $1.66 by $0.28. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.11 billion. NVIDIA had a return on equity of 52.18% and a net margin of 34.44%. The company’s revenue for the quarter was up 40.0% compared to the same quarter last year. During the same period last year, the firm earned $1.01 earnings per share.

A number of research firms recently commented on NVDA. Wells Fargo & Co upgraded NVIDIA from an “underperform” rating to an “outperform” rating and lifted their price target for the stock from $140.00 to $315.00 in a research note on Tuesday. Bank of America reiterated a “buy” rating and issued a $340.00 price target on shares of NVIDIA in a research note on Friday, May 11th. SunTrust Banks lifted their price target on NVIDIA to $316.00 and gave the stock a “buy” rating in a research note on Friday, May 11th. Stifel Nicolaus reiterated a “hold” rating and issued a $250.00 price target (up from $243.00) on shares of NVIDIA in a research note on Friday. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $265.00 price target on shares of NVIDIA in a research note on Friday. Eight research analysts have rated the stock with a hold rating and thirty have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $281.58.

NASDAQ:NVDA traded down $12.62 during mid-day trading on Friday, reaching $244.82. The stock had a trading volume of 28,533,931 shares, compared to its average volume of 13,216,377. The company has a market capitalization of $154.66 billion, a price-to-earnings ratio of 52.42, a price-to-earnings-growth ratio of 3.51 and a beta of 1.56. NVIDIA has a 1-year low of $157.37 and a 1-year high of $269.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.82 and a current ratio of 8.54.

In other NVIDIA news, Director Harvey C. Jones sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, June 26th. The shares were sold at an average price of $242.11, for a total value of $24,211,000.00. Following the transaction, the director now owns 31,725 shares of the company’s stock, valued at $7,680,939.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Colette Kress sold 889 shares of the firm’s stock in a transaction dated Thursday, June 21st. The stock was sold at an average price of $257.64, for a total transaction of $229,041.96. The disclosure for this sale can be found here. Insiders sold 269,632 shares of company stock worth $67,615,033 in the last three months. 4.70% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVDA. Adirondack Trust Co. raised its holdings in shares of NVIDIA by 146.1% during the first quarter. Adirondack Trust Co. now owns 443 shares of the computer hardware maker’s stock valued at $100,000 after buying an additional 263 shares during the last quarter. Kwmg LLC bought a new stake in shares of NVIDIA during the second quarter valued at approximately $105,000. Legacy Financial Advisors Inc. raised its holdings in shares of NVIDIA by 111.0% during the second quarter. Legacy Financial Advisors Inc. now owns 443 shares of the computer hardware maker’s stock valued at $110,000 after buying an additional 233 shares during the last quarter. Bruderman Asset Management LLC bought a new stake in shares of NVIDIA during the first quarter valued at approximately $127,000. Finally, Almanack Investment Partners LLC. bought a new stake in shares of NVIDIA during the second quarter valued at approximately $127,000. 65.33% of the stock is currently owned by institutional investors.

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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