Nvidia posts revenue drop of 17 percent for Q2

18 Août, 2019, 04:43 | Auteur: Auguste Feret
  • Nvidia Stock Jumps 7% On Q2 Earnings Beat

Refinitiv analysts expected earnings of Dollars 1.15 per share on revenue of USD 2.54 Billion. Truvestments Capital LLC purchased a new position in shares of NVIDIA in the 1st quarter valued at about $33,000. Finally, Parnassus Investments CA increased its holdings in NVIDIA by 4.2% in the 1st quarter. Pacific Center for Financial Services lifted its holdings in NVIDIA by 143.1% during the 2nd quarter. Capital Wealth Planning LLC now owns 10,354 shares of the computer hardware maker's stock worth $1,700,000 after purchasing an additional 5,354 shares during the last quarter. The shares were sold at an average price of $166.80, for a total transaction of $417,000.00. Now the companies shares are stuck in a consolidation zone between 120-200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Persis Drell sold 2,500 shares of NVIDIA stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $145.10, for a total transaction of $14,510,000.00. Following the transaction, the chief financial officer now directly owns 239,710 shares of the company's stock, valued at $39,314,837.10. The disclosure for this sale can be found here.

The earnings report caused Nvidia's stock to rally in late trading on Thursday, and it was up over 6% on Friday morning. BidaskClub cut NVIDIA from a "buy" rating to a "hold" rating in a report on Saturday, August 3rd. They issued an "outperform" rating and a $184.00 price objective for the company. Sanford C. Bernstein set a $150.00 price target on shares of NVIDIA and gave the company a "hold" rating in a research note on Wednesday, June 26th. Jefferies has "Buy" rating and $185 target. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-six have assigned a buy rating to the company's stock. The stock now has a consensus rating of "Buy" and an average price target of $193.04.

Shares of Nvidia traded up about 8% on Friday to$160.42, in a 52-week range of $124.46 to $292.76. Fiduciary Tru Company has invested 0.04% of its portfolio in NVIDIA Corporation (NASDAQ:NVDA). The firm has a market cap of $91.39 billion, a P/E ratio of 26.29, a P/E/G ratio of 3.84 and a beta of 2.07. The year-over-year decline reflects lower hyperscale revenue. The firm has a fifty day moving average of $163.66 and a 200 day moving average of $163.39.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Thursday, August 15th.

Shares of Nvidia Corporation, the leading provider of graphics processing units (GPUs) and system-on-a-chip units (SoCs) to the gaming industry, jumped as much as 7% Thursday in extended trading on better-than-expected fiscal second quarter earnings.

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For its third quarter Nvidia is expecting revenue of $2.90 billion, plus or minus 2 per cent.

The logo of Nvidia Corporation is seen during the annual Computex computer exhibition in Taipei, Taiwan May 30, 2017. Coupled with a 350 basis point drop in gross margin, from 63.3 percent in the second quarter of its 2019 financial year to 59.8 percent, and a 19 percent increase in operating expenses, the company's net income is down a whopping 50 percent year-on-year. During the same period past year, the company posted $1.94 EPS.

Professional Visualization revenue in Q2 was $291 million, up 4 percent from a year earlier and up 9 percent sequentially.

Besides, the chip manufacturing giant has also announced: "cash dividend of $0.16 per share on September 20, 2019, to all shareholders of record on August 29, 2019".

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