Analysts predict that NetApp, Inc. (NASDAQ:NTAP) will post $1.12 earnings per share (EPS) for the current quarter, Zacks reports. Eight analysts have made estimates for NetApp’s earnings, with the lowest EPS estimate coming in at $1.09 and the highest estimate coming in at $1.17. NetApp posted earnings per share of $1.19 in the same quarter last year, which would indicate a negative year over year growth rate of 5.9%. The company is scheduled to issue its next quarterly earnings results on Wednesday, May 26th.
According to Zacks, analysts expect that NetApp will report full-year earnings of $4.01 per share for the current financial year, with EPS estimates ranging from $3.99 to $4.06. For the next fiscal year, analysts forecast that the business will report earnings of $4.54 per share, with EPS estimates ranging from $4.15 to $5.10. Zacks’ EPS averages are an average based on a survey of sell-side analysts that cover NetApp.
NetApp (NASDAQ:NTAP) last posted its earnings results on Wednesday, February 24th. The data storage provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.09. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.43 billion. NetApp had a net margin of 12.44% and a return on equity of 263.77%. During the same quarter in the prior year, the business earned $1.16 earnings per share.
Several equities analysts have weighed in on NTAP shares. Credit Suisse Group raised their price objective on NetApp from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, March 3rd. Deutsche Bank Aktiengesellschaft lifted their price objective on NetApp from $54.00 to $64.00 and gave the stock a “hold” rating in a report on Monday, February 22nd. Daiwa Capital Markets raised NetApp from a “neutral” rating to an “outperform” rating and set a $70.00 price objective for the company in a report on Friday, February 26th. Cowen lifted their target price on NetApp from $60.00 to $68.00 and gave the company a “market perform” rating in a report on Thursday, February 25th. Finally, Loop Capital lifted their target price on NetApp from $70.00 to $83.00 and gave the company a “buy” rating in a report on Thursday, February 25th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and ten have given a buy rating to the company’s stock. NetApp presently has an average rating of “Hold” and an average target price of $64.60.
NASDAQ NTAP traded up $1.42 during mid-day trading on Friday, hitting $76.92. The company’s stock had a trading volume of 10,060 shares, compared to its average volume of 1,963,918. The company’s 50 day simple moving average is $71.15 and its 200 day simple moving average is $61.89. NetApp has a twelve month low of $39.67 and a twelve month high of $78.77. The company has a current ratio of 1.65, a quick ratio of 1.61 and a debt-to-equity ratio of 7.11. The firm has a market capitalization of $17.12 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 1.78 and a beta of 1.35.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 28th. Investors of record on Friday, April 9th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Thursday, April 8th. NetApp’s dividend payout ratio (DPR) is currently 54.39%.
A number of large investors have recently added to or reduced their stakes in the stock. Stephenson National Bank & Trust boosted its holdings in NetApp by 4.4% in the first quarter. Stephenson National Bank & Trust now owns 3,534 shares of the data storage provider’s stock valued at $257,000 after acquiring an additional 150 shares in the last quarter. Eudaimonia Partners LLC boosted its holdings in NetApp by 13.4% in the third quarter. Eudaimonia Partners LLC now owns 1,433 shares of the data storage provider’s stock valued at $63,000 after acquiring an additional 169 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in NetApp by 62.9% in the first quarter. Global Retirement Partners LLC now owns 479 shares of the data storage provider’s stock valued at $35,000 after acquiring an additional 185 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in NetApp by 1.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 18,977 shares of the data storage provider’s stock valued at $1,257,000 after acquiring an additional 220 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in NetApp by 0.3% in the fourth quarter. Treasurer of the State of North Carolina now owns 84,871 shares of the data storage provider’s stock valued at $5,622,000 after acquiring an additional 290 shares in the last quarter. Institutional investors and hedge funds own 90.95% 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. The company offers cloud data services, including NetApp Cloud Volumes Service for AWS, NetApp Cloud Sync, NetApp Cloud Tiering, NetApp Global File Cache, NetApp SaaS Backup, NetApp Cloud Manager, NetApp Fabric Orchestrator, and NetApp Cloud Insights.
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