Zacks: Brokerages Anticipate NV5 Global Inc (NVEE) Will Post Quarterly Sales of $96.35 Million

Brokerages expect NV5 Global Inc (NASDAQ:NVEE) to announce $96.35 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for NV5 Global’s earnings, with the lowest sales estimate coming in at $94.00 million and the highest estimate coming in at $98.70 million. NV5 Global reported sales of $63.02 million in the same quarter last year, which indicates a positive year over year growth rate of 52.9%. The company is scheduled to announce its next quarterly earnings results on Thursday, March 8th.

According to Zacks, analysts expect that NV5 Global will report full-year sales of $96.35 million for the current fiscal year, with estimates ranging from $333.06 million to $337.70 million. For the next financial year, analysts anticipate that the company will post sales of $394.10 million per share, with estimates ranging from $394.00 million to $394.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow NV5 Global.

NV5 Global (NASDAQ:NVEE) last issued its earnings results on Wednesday, November 8th. The business services provider reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.05. NV5 Global had a net margin of 5.23% and a return on equity of 14.75%. The firm had revenue of $91.26 million during the quarter, compared to the consensus estimate of $103.15 million.

Several equities research analysts have commented on NVEE shares. Zacks Investment Research raised shares of NV5 Global from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Saturday, January 6th. Seaport Global Securities reaffirmed a “buy” rating and issued a $61.00 target price (up previously from $42.00) on shares of NV5 Global in a research note on Wednesday, October 11th. BidaskClub raised shares of NV5 Global from a “hold” rating to a “buy” rating in a research note on Friday, December 22nd. Lake Street Capital upped their target price on shares of NV5 Global to $66.00 and gave the company a “buy” rating in a research note on Thursday, November 9th. Finally, Roth Capital upped their target price on shares of NV5 Global from $48.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. NV5 Global has an average rating of “Hold” and an average target price of $58.00.

Shares of NV5 Global (NVEE) opened at $47.45 on Monday. NV5 Global has a 12 month low of $34.25 and a 12 month high of $58.95. The company has a quick ratio of 2.54, a current ratio of 2.54 and a debt-to-equity ratio of 0.41. The company has a market cap of $511.78, a P/E ratio of 22.17, a price-to-earnings-growth ratio of 0.87 and a beta of 1.38.

In other news, CFO Michael P. Rama sold 1,800 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $55.20, for a total value of $99,360.00. Following the completion of the transaction, the chief financial officer now owns 29,949 shares in the company, valued at $1,653,184.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Richard Tong sold 2,200 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $54.00, for a total transaction of $118,800.00. The disclosure for this sale can be found here. Insiders sold 7,684 shares of company stock valued at $405,970 in the last quarter. Corporate insiders own 26.00% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. boosted its holdings in shares of NV5 Global by 123.5% in the third quarter. Sei Investments Co. now owns 2,937 shares of the business services provider’s stock valued at $160,000 after buying an additional 1,623 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of NV5 Global by 536.1% in the third quarter. Victory Capital Management Inc. now owns 3,664 shares of the business services provider’s stock valued at $200,000 after buying an additional 3,088 shares during the period. Simplex Trading LLC boosted its holdings in shares of NV5 Global by 1,972.5% in the third quarter. Simplex Trading LLC now owns 4,000 shares of the business services provider’s stock valued at $218,000 after buying an additional 3,807 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of NV5 Global by 2.5% in the second quarter. Wells Fargo & Company MN now owns 5,083 shares of the business services provider’s stock valued at $216,000 after buying an additional 126 shares during the period. Finally, Alliancebernstein L.P. acquired a new position in shares of NV5 Global in the second quarter valued at approximately $238,000. Institutional investors own 56.16% of the company’s stock.

WARNING: “Zacks: Brokerages Anticipate NV5 Global Inc (NVEE) Will Post Quarterly Sales of $96.35 Million” was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another website, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The original version of this article can be read at https://www.americanbankingnews.com/2018/01/29/zacks-brokerages-anticipate-nv5-global-inc-nvee-will-post-quarterly-sales-of-96-35-million.html.

About NV5 Global

NV5 Global, Inc, formerly NV5 Holdings, Inc, is a holding company. The Company provides professional and technical engineering and consulting solutions to public and private sector clients in the infrastructure, energy, construction, real estate and environmental markets. It focuses on five business verticals: construction quality assurance, infrastructure, energy, program management, and environmental solutions.

Get a free copy of the Zacks research report on NV5 Global (NVEE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for NV5 Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NV5 Global and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply