NetApp, Inc. Announces Quarterly Dividend of $0.52 (NASDAQ:NTAP)

NetApp, Inc. (NASDAQ:NTAP) declared a quarterly dividend on Thursday, May 28th. Investors of record on Friday, July 10th will be paid a dividend of 0.52 per share by the data storage provider on Wednesday, July 29th. This represents a c) dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, July 10th.

NetApp has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 1 years. NetApp has a payout ratio of 24.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect NetApp to earn $7.14 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 29.1%.

NetApp Stock Down 0.2%

NetApp stock opened at $142.40 on Friday. The stock has a market cap of $28.10 billion, a P/E ratio of 23.81, a P/E/G ratio of 2.60 and a beta of 1.28. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 2.15. NetApp has a twelve month low of $93.69 and a twelve month high of $143.65. The company’s 50-day moving average price is $110.99 and its two-hundred day moving average price is $107.48.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). NetApp had a return on equity of 118.11% and a net margin of 18.07%.The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the firm earned $1.93 EPS. The company’s revenue was up 12.5% on a year-over-year basis. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. As a group, analysts expect that NetApp will post 6.48 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on NTAP shares. JPMorgan Chase & Co. cut NetApp from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $125.00 to $110.00 in a report on Thursday, April 16th. Wedbush reaffirmed a “neutral” rating and issued a $115.00 price objective on shares of NetApp in a report on Wednesday, February 25th. Citigroup cut NetApp from a “neutral” rating to a “mixed” rating in a research report on Thursday, May 14th. Weiss Ratings downgraded NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 13th. Finally, Bank of America boosted their target price on shares of NetApp from $118.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, NetApp presently has a consensus rating of “Hold” and a consensus price target of $122.27.

NetApp Company Profile

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.