NVIDIA Corporation, listed on the NASDAQ as NVDA, saw its shares close slightly higher on Tuesday in anticipation of its earnings report scheduled for Wednesday. The company’s stock has risen by about 20% in the past month and a staggering 98% so far this year.
Analysts are expecting NVIDIA to report quarterly earnings of $5.59 per share, a significant increase from 98 cents per share in the same period last year. Revenue for the quarter is projected to be around $24.65 billion, up from $6.52 billion a year ago.
Several analysts have raised their price targets for NVIDIA prior to the earnings release. Baird Analyst Tristan Gerra maintained an Outperform rating on the stock and raised the price target from $1,050 to $1,200. Stifel Analyst Rubén Roy increased the price target from $910 to $1,085, while Susquehanna Analyst Christopher Rolland raised it from $1,050 to $1,100. Barclays Analyst Blayne Curtis also raised the price target from $850 to $1,100.
Investors are also considering potential dividend gains from NVIDIA, which currently offers a dividend yield of 0.02%, translating to a quarterly dividend of 4 cents per share. To achieve a goal of making $500 a month from NVIDIA dividends, an investor would need to own approximately $35,769,750 worth of NVIDIA stock, or 37,500 shares.
It is important to note that dividend yields are subject to change as both dividend payments and share prices fluctuate over time. The dividend yield is calculated by dividing the annual dividend payment by the current share price. As stock prices and dividend payments change, the dividend yield will also be affected.
NVIDIA’s stock price closed at $953.86 on Tuesday, reflecting a 0.6% increase. The constant evolution of dividend yields and share prices underscores the need for investors to stay informed and adjust their strategies accordingly.
In conclusion, NVIDIA’s performance and investor sentiment remain strong leading up to its earnings report, with analysts optimistic about the company’s future prospects. The potential for dividend gains adds another layer of appeal for investors looking to generate passive income from their investments. As with any investment decision, it is essential to conduct thorough research and stay vigilant in monitoring market trends to maximize returns and mitigate risks.
Article Source
https://www.benzinga.com/news/earnings/24/05/38961192/how-to-earn-500-a-month-from-nvidia-stock-ahead-of-q1-earnings-report
