NV5 Global (NASDAQ:NVEE) Announces Earnings Results, Misses Expectations By $0.19 EPS

NV5 Global (NASDAQ:NVEE - Get Free Report) released its quarterly earnings data on Wednesday. The business services provider reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.85 by ($0.19), Briefing.com reports. NV5 Global had a net margin of 5.18% and a return on equity of 9.94%. The company had revenue of $213.40 million for the quarter, compared to analysts' expectations of $208.42 million. During the same period last year, the company posted $0.88 EPS. The business's revenue for the quarter was up 15.8% compared to the same quarter last year. NV5 Global updated its FY24 guidance to $5.05-5.11 EPS and its FY 2024 guidance to 5.050-5.110 EPS.

NV5 Global Stock Up 2.3 %

NASDAQ NVEE traded up $2.15 on Thursday, reaching $96.13. 105,916 shares of the stock traded hands, compared to its average volume of 73,907. The company has a fifty day moving average price of $95.88 and a 200-day moving average price of $100.90. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.06 and a current ratio of 2.06. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 33.26, a PEG ratio of 1.19 and a beta of 1.09. NV5 Global has a 12 month low of $88.56 and a 12 month high of $119.56.

Insider Buying and Selling

In related news, VP Donald C. Alford sold 1,000 shares of the firm's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $100.12, for a total value of $100,120.00. Following the completion of the transaction, the vice president now owns 2,541 shares in the company, valued at approximately $254,404.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NV5 Global news, VP Donald C. Alford sold 2,459 shares of the business's stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $99.53, for a total transaction of $244,744.27. Following the sale, the vice president now directly owns 3,542 shares in the company, valued at $352,535.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald C. Alford sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $100.12, for a total transaction of $100,120.00. Following the completion of the sale, the vice president now directly owns 2,541 shares in the company, valued at approximately $254,404.92. The disclosure for this sale can be found here. 12.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Roth Mkm reaffirmed a "buy" rating and set a $128.00 target price (up previously from $121.00) on shares of NV5 Global in a research note on Thursday. StockNews.com cut NV5 Global from a "buy" rating to a "hold" rating in a research report on Tuesday, February 27th. Finally, TheStreet lowered NV5 Global from a "b-" rating to a "c+" rating in a research note on Wednesday, February 28th.

NV5 Global Company Profile

NV5 Global, Inc provides technology, conformity assessment, consulting solutions, and software applications to public and private sector clients in the infrastructure, utility services, construction, real estate, environmental, and geospatial markets in the United States and internationally. It operates through three segments: Infrastructure; Building, Technology & Sciences; and Geospatial Solutions.