Brokerages expect NetApp (NASDAQ:NTAP) to announce earnings of $1.00 per share for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have issued estimates for NetApp’s earnings, with the highest EPS estimate coming in at $1.03 and the lowest estimate coming in at $0.96. NetApp reported earnings of $0.86 per share in the same quarter last year, which would indicate a positive year over year growth rate of 16.3%. The business is scheduled to issue its next quarterly earnings report on Wednesday, May 23rd.
On average, analysts expect that NetApp will report full-year earnings of $3.43 per share for the current fiscal year, with EPS estimates ranging from $3.38 to $3.47. For the next year, analysts anticipate that the business will report earnings of $3.97 per share, with EPS estimates ranging from $3.62 to $4.24. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that follow NetApp.
NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, February 14th. The data storage provider reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.08. NetApp had a positive return on equity of 29.38% and a negative net margin of 0.09%. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the firm posted $0.82 EPS.
A number of research analysts have recently issued reports on NTAP shares. Morgan Stanley increased their target price on NetApp from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Friday, April 6th. Zacks Investment Research upgraded NetApp from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Tuesday, February 6th. Pivotal Research set a $62.00 target price on NetApp and gave the company a “hold” rating in a research report on Wednesday, February 28th. DA Davidson lowered NetApp from a “buy” rating to a “neutral” rating and increased their target price for the company from $56.00 to $64.00 in a research report on Tuesday, January 23rd. Finally, Loop Capital upgraded NetApp from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $60.30.
Shares of NASDAQ:NTAP opened at $68.66 on Friday. NetApp has a 1 year low of $37.43 and a 1 year high of $69.75. The company has a market cap of $18,489.35, a PE ratio of 32.70, a price-to-earnings-growth ratio of 2.29 and a beta of 1.27. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.88 and a current ratio of 1.91.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Friday, April 6th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, April 5th. NetApp’s dividend payout ratio (DPR) is presently 38.10%.
In other NetApp news, VP Joel D. Reich sold 11,641 shares of the firm’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $60.02, for a total value of $698,692.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO George Kurian sold 3,826 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $63.01, for a total value of $241,076.26. Following the completion of the sale, the chief executive officer now directly owns 20,637 shares of the company’s stock, valued at $1,300,337.37. The disclosure for this sale can be found here. Insiders sold a total of 43,877 shares of company stock valued at $2,710,753 over the last ninety days. Corporate insiders own 0.47% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of NTAP. IFP Advisors Inc increased its stake in shares of NetApp by 45.3% in the 4th quarter. IFP Advisors Inc now owns 2,571 shares of the data storage provider’s stock worth $142,000 after acquiring an additional 801 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of NetApp by 227.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,286 shares of the data storage provider’s stock worth $182,000 after purchasing an additional 2,282 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of NetApp during the 4th quarter worth about $210,000. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of NetApp by 559.8% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,025 shares of the data storage provider’s stock worth $223,000 after purchasing an additional 3,415 shares during the last quarter. Finally, Wetherby Asset Management Inc. acquired a new stake in shares of NetApp during the 4th quarter worth about $224,000. 95.00% of the stock is owned by institutional investors and hedge funds.
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NetApp Company Profile
NetApp, Inc provides software, systems, and services to manage and store computer data worldwide. It offers flash; flash arrays that support data management; hybrid arrays to deploy the speed of flash storage; hybrid cloud; ONTAP cloud storage data management service; NetApp cloud sync hybrid data management Software as a Service; NetApp private storage for cloud; and AltaVault cloud-integrated solutions.
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