NVIDIA Corporation (NVDA) Posts Quarterly Earnings Results, Beats Estimates By $0.39 EPS
NVIDIA Corporation (NASDAQ:NVDA) announced its earnings results on Thursday. The computer hardware maker reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.39, Bloomberg Earnings reports. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.36 billion. NVIDIA Corporation had a net margin of 27.41% and a return on equity of 39.59%. The business’s revenue for the quarter was up 31.5% on a year-over-year basis. During the same period last year, the firm earned $0.94 earnings per share.
Shares of NVIDIA Corporation (NASDAQ:NVDA) traded up $10.82 during mid-day trading on Friday, reaching $216.14. 31,293,289 shares of the company’s stock were exchanged, compared to its average volume of 17,772,615. NVIDIA Corporation has a twelve month low of $78.50 and a twelve month high of $218.67. The company has a quick ratio of 6.99, a current ratio of 7.82 and a debt-to-equity ratio of 0.33. The company has a market cap of $129,680.00, a P/E ratio of 58.75, a price-to-earnings-growth ratio of 5.17 and a beta of 1.23.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 24th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.28%. This is an increase from NVIDIA Corporation’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Wednesday, November 22nd. NVIDIA Corporation’s dividend payout ratio is presently 16.05%.
A number of research analysts recently issued reports on NVDA shares. Citigroup Inc. reissued a “buy” rating and issued a $180.00 price objective on shares of NVIDIA Corporation in a research note on Thursday, August 10th. Canaccord Genuity reissued a “buy” rating and issued a $180.00 price objective (up from $155.00) on shares of NVIDIA Corporation in a research note on Monday, July 24th. Summit Redstone reissued a “buy” rating on shares of NVIDIA Corporation in a research note on Saturday, July 22nd. Mizuho reissued a “buy” rating and issued a $170.00 price objective on shares of NVIDIA Corporation in a research note on Friday, July 21st. Finally, Bank of America Corporation reissued a “buy” rating on shares of NVIDIA Corporation in a research note on Monday, August 7th. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. NVIDIA Corporation has a consensus rating of “Hold” and an average price target of $183.27.
In other NVIDIA Corporation news, EVP Debora Shoquist sold 33,498 shares of the company’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $189.24, for a total value of $6,339,161.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Byron sold 409 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $171.01, for a total transaction of $69,943.09. Following the completion of the sale, the insider now directly owns 136,199 shares of the company’s stock, valued at $23,291,390.99. The disclosure for this sale can be found here. Insiders sold a total of 452,784 shares of company stock valued at $81,437,724 over the last ninety days. 5.82% of the stock is currently owned by insiders.
NVIDIA Corporation Company Profile
Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at 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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