Analysts expect NetApp Inc. (NASDAQ:NTAP) to report earnings of $0.72 per share for the current quarter, according to Zacks. Eight analysts have issued estimates for NetApp’s earnings, with estimates ranging from $0.70 to $0.74. NetApp posted earnings per share of $1.09 in the same quarter last year, which suggests a negative year over year growth rate of 33.9%. The business is scheduled to issue its next earnings results on Wednesday, November 11th.
According to Zacks, analysts expect that NetApp will report full year earnings of $3.38 per share for the current year, with EPS estimates ranging from $3.20 to $3.78. For the next year, analysts expect that the business will post earnings of $3.92 per share, with EPS estimates ranging from $3.56 to $4.38. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for NetApp.
NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Wednesday, August 26th. The data storage provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.32. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.15 billion. NetApp had a return on equity of 240.01% and a net margin of 14.47%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 EPS.
NTAP has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price target on NetApp from $45.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, August 27th. Wells Fargo & Company raised their target price on NetApp from $46.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, August 27th. 140166 reaffirmed a “buy” rating and issued a $60.00 target price on shares of NetApp in a report on Friday, July 10th. Bank of America raised NetApp from a “neutral” rating to a “buy” rating and raised their target price for the stock from $50.00 to $55.00 in a report on Friday, June 26th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on NetApp from $43.00 to $45.00 and gave the stock a “hold” rating in a report on Thursday, August 27th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company’s stock. NetApp presently has an average rating of “Hold” and an average target price of $52.56.
NASDAQ NTAP opened at $47.15 on Tuesday. The business’s fifty day moving average price is $44.55 and its 200-day moving average price is $43.43. The stock has a market capitalization of $10.47 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 1.48 and a beta of 1.33. The company has a debt-to-equity ratio of 9.26, a current ratio of 1.62 and a quick ratio of 1.57. NetApp has a 1-year low of $34.66 and a 1-year high of $65.38.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Friday, October 9th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, October 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.07%. NetApp’s payout ratio is 54.39%.
In other news, Director Thomas Michael Nevens sold 22,831 shares of the firm’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $44.62, for a total transaction of $1,018,719.22. Following the completion of the transaction, the director now owns 22,831 shares in the company, valued at $1,018,719.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.36% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. grew its position in NetApp by 87.5% in the first quarter. Meeder Asset Management Inc. now owns 662 shares of the data storage provider’s stock worth $28,000 after acquiring an additional 309 shares in the last quarter. Hoey Investments Inc. grew its position in NetApp by 125.0% in the second quarter. Hoey Investments Inc. now owns 900 shares of the data storage provider’s stock worth $40,000 after acquiring an additional 500 shares in the last quarter. SG3 Management LLC purchased a new position in NetApp in the second quarter worth about $44,000. Citizens Financial Group Inc RI grew its position in NetApp by 539.3% in the second quarter. Citizens Financial Group Inc RI now owns 1,042 shares of the data storage provider’s stock worth $46,000 after acquiring an additional 879 shares in the last quarter. Finally, Private Advisor Group LLC purchased a new position in NetApp in the second quarter worth about $56,000. Institutional investors own 92.70% of the company’s stock.
NetApp, Inc provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.
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