NetApp, Inc. (NASDAQ:NTAP) will post its quarterly earnings results after the market closes on Wednesday, November 15th. Analysts expect NetApp to post earnings of $0.69 per share for the quarter. NetApp has set its Q2 guidance at $0.64-0.72 EPS.
NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.07. NetApp had a net margin of 10.47% and a return on equity of 24.13%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the company earned $0.46 EPS. NetApp’s quarterly revenue was up 2.4% on a year-over-year basis. On average, analysts expect NetApp to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.
NetApp, Inc. (NTAP) opened at $46.00 on Tuesday. NetApp, Inc. has a fifty-two week low of $33.83 and a fifty-two week high of $47.20. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.47 and a quick ratio of 1.44. The firm has a market cap of $12,500.57, a P/E ratio of 19.47, a P/E/G ratio of 1.63 and a beta of 1.16.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Friday, October 6th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $0.80 annualized dividend and a yield of 1.74%. NetApp’s dividend payout ratio (DPR) is presently 38.65%.
In related news, Director Richard P. Wallace sold 34,000 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $43.53, for a total transaction of $1,480,020.00. Following the completion of the sale, the director now directly owns 24,132 shares of the company’s stock, valued at approximately $1,050,465.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Henri P. Richard sold 1,976 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $42.01, for a total value of $83,011.76. Following the sale, the executive vice president now directly owns 17,812 shares of the company’s stock, valued at $748,282.12. The disclosure for this sale can be found here. Insiders have sold a total of 74,343 shares of company stock valued at $3,302,273 over the last three months. Corporate insiders own 0.47% of the company’s stock.
A number of equities research analysts have recently commented on the stock. BidaskClub cut shares of NetApp from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. Credit Suisse Group raised their price objective on shares of NetApp from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 9th. Citigroup Inc. raised their price objective on shares of NetApp from $41.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, August 17th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $50.00 price objective (up previously from $48.00) on shares of NetApp in a research note on Wednesday, August 16th. Finally, Barclays PLC raised shares of NetApp from an “underweight” rating to an “overweight” rating and raised their price objective for the stock from $38.00 to $52.00 in a research note on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating and fourteen have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $45.85.
NetApp Company Profile
NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.
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