Analysts expect NetApp, Inc. (NASDAQ:NTAP) to report $0.69 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for NetApp’s earnings, with the highest EPS estimate coming in at $0.71 and the lowest estimate coming in at $0.66. NetApp posted earnings of $0.60 per share during the same quarter last year, which suggests a positive year over year growth rate of 15%. The firm is expected to report its next quarterly earnings results on Wednesday, November 15th.
On average, analysts expect that NetApp will report full-year earnings of $3.11 per share for the current year, with EPS estimates ranging from $3.01 to $3.22. For the next financial year, analysts anticipate that the firm will report earnings of $3.40 per share, with EPS estimates ranging from $3.17 to $3.60. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover NetApp.
NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business earned $0.46 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year.
NTAP has been the topic of a number of recent analyst reports. Drexel Hamilton reaffirmed a “buy” rating and set a $62.00 price target on shares of NetApp in a research note on Wednesday, May 24th. Goldman Sachs Group, Inc. (The) raised shares of NetApp from a “neutral” rating to a “buy” rating and upped their price target for the stock from $46.00 to $47.00 in a research note on Friday, July 14th. BidaskClub raised shares of NetApp from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Maxim Group raised shares of NetApp from a “hold” rating to a “buy” rating and upped their price target for the stock from $46.00 to $56.00 in a research note on Monday, August 14th. Finally, Piper Jaffray Companies set a $50.00 price target on shares of NetApp and gave the stock a “buy” rating in a research note on Monday, August 14th. Three equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and fourteen have assigned a buy rating to the company. NetApp has a consensus rating of “Hold” and a consensus target price of $43.89.
In other NetApp news, EVP Henri P. Richard sold 1,976 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $43.41, for a total value of $85,778.16. Following the completion of the sale, the executive vice president now owns 19,788 shares of the company’s stock, valued at $858,997.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Joel D. Reich sold 9,031 shares of the stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $39.81, for a total transaction of $359,524.11. Following the completion of the sale, the vice president now directly owns 10,902 shares of the company’s stock, valued at approximately $434,008.62. The disclosure for this sale can be found here. Insiders sold 85,202 shares of company stock valued at $3,427,038 in the last ninety days. 0.47% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of NTAP. Profund Advisors LLC grew its position in NetApp by 8.1% in the first quarter. Profund Advisors LLC now owns 7,624 shares of the data storage provider’s stock valued at $319,000 after acquiring an additional 572 shares in the last quarter. Advisors Asset Management Inc. grew its position in NetApp by 13.0% in the first quarter. Advisors Asset Management Inc. now owns 17,322 shares of the data storage provider’s stock valued at $725,000 after acquiring an additional 1,992 shares in the last quarter. Suntrust Banks Inc. acquired a new stake in NetApp in the first quarter valued at approximately $598,000. Comerica Bank grew its position in NetApp by 30.2% in the first quarter. Comerica Bank now owns 90,988 shares of the data storage provider’s stock valued at $3,617,000 after acquiring an additional 21,098 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its position in NetApp by 4.1% in the first quarter. UBS Asset Management Americas Inc. now owns 1,072,654 shares of the data storage provider’s stock valued at $44,891,000 after acquiring an additional 42,544 shares in the last quarter. 92.08% of the stock is owned by institutional investors.
Shares of NetApp (NASDAQ NTAP) traded up 0.38% during mid-day trading on Thursday, hitting $41.86. 2,697,799 shares of the stock traded hands. NetApp has a 12-month low of $30.36 and a 12-month high of $45.24. The firm’s 50 day moving average price is $40.34 and its 200 day moving average price is $40.60. The firm has a market cap of $11.29 billion, a price-to-earnings ratio of 20.21 and a beta of 1.22.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Friday, October 6th will be issued a $0.20 dividend. The ex-dividend date is Thursday, October 5th. This represents a $0.80 annualized dividend and a yield of 1.92%. NetApp’s payout ratio is 38.65%.
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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