NetApp, Inc. (NASDAQ:NTAP) to Issue $0.52 Quarterly Dividend

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

NetApp has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 1 years. NetApp has a payout ratio of 24.6% meaning its dividend is sufficiently covered by earnings. Equities research 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 Trading Down 0.2%

NTAP opened at $142.40 on Friday. The stock’s fifty day moving average is $110.99 and its two-hundred day moving average is $107.48. The company has a market capitalization of $28.10 billion, a P/E ratio of 23.81, a PEG ratio of 2.60 and a beta of 1.28. NetApp has a 52 week low of $93.69 and a 52 week high of $143.65. 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 (NASDAQ:NTAP) last released its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.24). The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.87 billion. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.93 earnings per share. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Analysts forecast that NetApp will post 6.48 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on NTAP. Citigroup downgraded NetApp from a “neutral” rating to a “mixed” rating in a report on Thursday, May 14th. Wedbush restated a “neutral” rating and set a $115.00 price objective on shares of NetApp in a report on Wednesday, February 25th. Weiss Ratings downgraded NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 13th. JPMorgan Chase & Co. downgraded NetApp from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $125.00 to $110.00 in a report on Thursday, April 16th. Finally, Wall Street Zen downgraded NetApp from a “buy” rating to a “hold” rating in a report on Sunday, April 19th. 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 data from MarketBeat.com, the stock presently has an average 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.