NV5 Global (NASDAQ:NVEE) Issues Earnings Results

NV5 Global (NASDAQ:NVEE) released its quarterly earnings results on Thursday. The business services provider reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.02), Zacks reports. NV5 Global had a return on equity of 9.45% and a net margin of 3.86%.

NV5 Global Price Performance

NV5 Global stock traded up $0.40 during mid-day trading on Thursday, hitting $17.43. The stock had a trading volume of 781,235 shares, compared to its average volume of 406,472. NV5 Global has a one year low of $16.77 and a one year high of $27.77. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $1.13 billion, a P/E ratio of 30.99, a P/E/G ratio of 2.58 and a beta of 1.23. The firm’s 50 day moving average is $18.57 and its 200 day moving average is $21.41.

NV5 Global declared that its board has authorized a share repurchase plan on Monday, January 6th that permits the company to buyback $20.00 million in outstanding shares. This buyback authorization permits the business services provider to buy up to 1.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

NVEE has been the topic of several analyst reports. Robert W. Baird lowered their target price on NV5 Global from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. StockNews.com downgraded NV5 Global from a “buy” rating to a “hold” rating in a research note on Wednesday.

Insider Buying and Selling at NV5 Global

In related news, VP Richard Tong sold 20,000 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $20.08, for a total transaction of $401,600.00. Following the completion of the transaction, the vice president now owns 45,584 shares in the company, valued at approximately $915,326.72. This represents a 30.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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.