NV5 Global (NASDAQ:NVEE) Updates FY 2023 Earnings Guidance

Posted by Defense World Staff on Aug 10th, 2023

NV5 Global (NASDAQ:NVEE – Get Free Report) updated its FY 2023 earnings guidance on Thursday. The company provided earnings per share guidance of $5.28-$5.69 for the period, compared to the consensus earnings per share estimate of $5.28. The company issued revenue guidance of $878.00 million-$915.00 million, compared to the consensus revenue estimate of $876.67 million.

Analyst Ratings Changes

NVEE has been the topic of several recent analyst reports. Maxim Group raised NV5 Global from a hold rating to a buy rating and set a $125.00 price target on the stock in a research note on Friday, May 5th. Robert W. Baird dropped their price target on NV5 Global from $130.00 to $113.00 in a research note on Friday, May 5th. Finally, StockNews.com lowered NV5 Global from a buy rating to a hold rating in a research note on Saturday, May 13th.

Check Out Our Latest Report on NV5 Global

NV5 Global Stock Performance

NASDAQ:NVEE opened at $104.14 on Thursday. NV5 Global has a 1-year low of $89.30 and a 1-year high of $154.97. The company’s 50-day moving average is $106.89 and its two-hundred day moving average is $106.85. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.79 and a quick ratio of 1.79. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 33.70, a PEG ratio of 1.38 and a beta of 1.23.

Insider Activity

In other news, VP Maryjo O’brien sold 3,000 shares of the business’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $111.30, for a total transaction of $333,900.00. Following the transaction, the vice president now directly owns 64,840 shares of the company’s stock, valued at $7,216,692. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 12.40% of the company’s stock.

Institutional Investors Weigh In On NV5 Global

Several hedge funds and other institutional investors have recently modified their holdings of NVEE. Point72 Hong Kong Ltd acquired a new position in NV5 Global in the 2nd quarter valued at $38,000. Tower Research Capital LLC TRC increased its stake in NV5 Global by 172.0% in the 1st quarter. Tower Research Capital LLC TRC now owns 476 shares of the business services provider’s stock worth $49,000 after acquiring an additional 301 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in NV5 Global during the 1st quarter valued at about $73,000. Ensign Peak Advisors Inc purchased a new stake in NV5 Global in the 3rd quarter worth approximately $113,000. Finally, Quantbot Technologies LP bought a new position in NV5 Global during the 1st quarter valued at approximately $200,000. Institutional investors and hedge funds own 71.55% of the company’s stock.

NV5 Global Company Profile

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NV5 Global, Inc offers professional and technical engineering and consulting solutions to public and private sector clients in the infrastructure, utility services, construction, real estate, and environmental markets in the United States and internationally. It operates through three segments: Infrastructure; Building, Technology & Sciences; and Geospatial Solutions.