$7.42 Billion in Sales Expected for NVIDIA Co. (NASDAQ:NVDA) This Quarter

Analysts predict that NVIDIA Co. (NASDAQ:NVDA) will report $7.42 billion in sales for the current fiscal quarter, according to Zacks. Nine analysts have issued estimates for NVIDIA’s earnings, with the lowest sales estimate coming in at $7.40 billion and the highest estimate coming in at $7.55 billion. NVIDIA reported sales of $5.00 billion during the same quarter last year, which indicates a positive year over year growth rate of 48.4%. The firm is expected to announce its next earnings results on Wednesday, February 23rd.

On average, analysts expect that NVIDIA will report full year sales of $26.69 billion for the current fiscal year, with estimates ranging from $26.67 billion to $26.82 billion. For the next year, analysts anticipate that the business will report sales of $31.41 billion, with estimates ranging from $28.66 billion to $33.03 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow NVIDIA.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 17th. The computer hardware maker reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.06. NVIDIA had a return on equity of 41.79% and a net margin of 33.81%. During the same period in the previous year, the company earned $0.60 earnings per share.

NVDA has been the topic of several research analyst reports. Raymond James lifted their price objective on NVIDIA from $225.00 to $365.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 18th. They noted that the move was a valuation call. Oppenheimer raised their target price on NVIDIA from $235.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday, November 11th. Bank of America raised their target price on NVIDIA from $340.00 to $375.00 and gave the company a “buy” rating in a report on Thursday, November 18th. Citigroup raised their target price on NVIDIA from $223.00 to $350.00 and gave the company a “buy” rating in a report on Monday, November 15th. Finally, UBS Group lifted their price objective on NVIDIA from $230.00 to $350.00 and gave the stock a “buy” rating in a report on Monday, November 15th. Three research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $329.07.

NVDA opened at $290.75 on Wednesday. The company has a quick ratio of 6.53, a current ratio of 7.14 and a debt-to-equity ratio of 0.46. The firm has a market cap of $726.88 billion, a P/E ratio of 89.60, a PEG ratio of 4.01 and a beta of 1.37. NVIDIA has a 52 week low of $115.67 and a 52 week high of $346.47. The business’s fifty day simple moving average is $283.89 and its 200 day simple moving average is $231.67.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 23rd. Shareholders of record on Thursday, December 2nd will be given a $0.04 dividend. The ex-dividend date is Wednesday, December 1st. This represents a $0.16 dividend on an annualized basis and a yield of 0.06%. NVIDIA’s payout ratio is 4.93%.

In other news, CEO Jen Hsun Huang sold 440,000 shares of the firm’s stock in a transaction on Wednesday, December 1st. The stock was sold at an average price of $326.16, for a total value of $143,510,400.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mark A. Stevens sold 58,000 shares of the firm’s stock in a transaction on Monday, November 22nd. The stock was sold at an average price of $342.58, for a total value of $19,869,640.00. The disclosure for this sale can be found here. Insiders sold a total of 559,731 shares of company stock worth $181,730,212 over the last quarter. Corporate insiders own 4.23% of the company’s stock.

Several large investors have recently bought and sold shares of NVDA. Birmingham Capital Management Co. Inc. AL raised its stake in NVIDIA by 261.1% during the 3rd quarter. Birmingham Capital Management Co. Inc. AL now owns 3,416 shares of the computer hardware maker’s stock worth $708,000 after buying an additional 2,470 shares during the period. First Command Bank raised its stake in NVIDIA by 301.1% during the 3rd quarter. First Command Bank now owns 8,920 shares of the computer hardware maker’s stock worth $1,848,000 after buying an additional 6,696 shares during the period. UBS Asset Management Americas Inc. raised its stake in NVIDIA by 296.4% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 13,108,247 shares of the computer hardware maker’s stock worth $2,715,504,000 after buying an additional 9,801,806 shares during the period. Strategy Asset Managers LLC raised its stake in NVIDIA by 293.0% during the 3rd quarter. Strategy Asset Managers LLC now owns 10,319 shares of the computer hardware maker’s stock worth $2,138,000 after buying an additional 7,693 shares during the period. Finally, Sax Wealth Advisors LLC raised its stake in NVIDIA by 340.0% during the 3rd quarter. Sax Wealth Advisors LLC now owns 1,650 shares of the computer hardware maker’s stock worth $342,000 after buying an additional 1,275 shares during the period. Institutional investors and hedge funds own 19.24% of the company’s stock.

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.