NV5 Global (NASDAQ:NVEE) Updates FY 2024 Earnings Guidance

NV5 Global (NASDAQ:NVEE) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 1.150-1.190 for the period, compared to the consensus EPS estimate of 1.290. The company issued revenue guidance of $939.0 million-$943.0 million, compared to the consensus revenue estimate of $946.0 million. NV5 Global also updated its FY24 guidance to $1.15-$1.19 EPS.

NV5 Global Stock Down 7.6 %

NV5 Global stock traded down $1.92 during midday trading on Friday, hitting $23.35. 842,015 shares of the company’s stock were exchanged, compared to its average volume of 353,666. The company has a market cap of $1.52 billion, a PE ratio of 41.51, a P/E/G ratio of 1.29 and a beta of 1.17. NV5 Global has a 12 month low of $21.54 and a 12 month high of $28.75. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.29 and a current ratio of 2.29. The firm has a 50-day moving average of $23.07 and a two-hundred day moving average of $23.49.

NV5 Global (NASDAQ:NVEE) last announced its quarterly earnings results on Wednesday, August 7th. The business services provider reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. NV5 Global had a return on equity of 9.56% and a net margin of 3.86%. The business had revenue of $236.33 million for the quarter, compared to the consensus estimate of $235.58 million. During the same period last year, the business posted $0.32 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. As a group, analysts expect that NV5 Global will post 1.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on NVEE. Roth Mkm reissued a “buy” rating and set a $32.50 price target (up from $32.00) on shares of NV5 Global in a research report on Thursday, August 8th. Robert W. Baird lowered their target price on shares of NV5 Global from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday. Finally, StockNews.com downgraded NV5 Global from a “buy” rating to a “hold” rating in a research report on Saturday, October 19th.

Insider Transactions at NV5 Global

In related news, Director Tardan Francois sold 6,644 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $24.08, for a total value of $159,987.52. Following the completion of the transaction, the director now directly owns 20,600 shares of the company’s stock, valued at $496,048. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 12.40% of the company’s stock.

About NV5 Global

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.