Nvidia (NVDA - Free Report) closed the most recent trading day at $209.61, moving -0.42% from the previous trading session. This move lagged the S&P 500's daily loss of 0.12%. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq added 0.02%.
Heading into today, shares of the maker of graphics chips for gaming and artificial intelligence had gained 14.2% over the past month, outpacing the Computer and Technology sector's gain of 5.66% and the S&P 500's gain of 4.42% in that time.
Wall Street will be looking for positivity from NVDA as it approaches its next earnings report date. This is expected to be November 14, 2019. On that day, NVDA is projected to report earnings of $1.57 per share, which would represent a year-over-year decline of 14.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.90 billion, down 8.79% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.34 per share and revenue of $10.73 billion, which would represent changes of -19.58% and -8.44%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for NVDA. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. NVDA is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, NVDA is holding a Forward P/E ratio of 39.4. This represents a premium compared to its industry's average Forward P/E of 21.66.
We can also see that NVDA currently has a PEG ratio of 4.12. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Semiconductor - General was holding an average PEG ratio of 2 at yesterday's closing price.
The Semiconductor - General industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 154, which puts it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.