Analysts predict that NetApp, Inc. (NASDAQ: NTAP) will post earnings per share of $ 1.28 for the current quarter, according to Zacks investment research. Seven analysts made estimates for NetApp earnings, with the highest EPS estimate at $ 1.32 and the lowest estimate at $ 1.26. NetApp reported earnings of $ 1.10 per share in the same quarter last year, indicating a positive growth rate of 16.4% year-over-year. The company is expected to announce its next results on Wednesday 23 February.
According to Zacks, analysts expect NetApp to report annual earnings of $ 5.05 per share for the current fiscal year, with EPS estimates ranging from $ 5.00 to $ 5.16. For the next fiscal year, analysts expect the company to report earnings of $ 5.54 per share, with EPS estimates ranging from $ 5.37 to $ 5.77. Zacks Investment Research EPS averages are an average based on a survey of analysts who follow NetApp.
NetApp (NASDAQ: NTAP) last released its results on Tuesday, November 30. The data storage provider reported earnings per share (EPS) of $ 1.28 for the quarter, beating the Thomson Reuters consensus estimate of $ 1.21 by $ 0.07. The company posted revenue of $ 1.57 billion for the quarter, compared to analysts’ expectations of $ 1.55 billion. NetApp recorded a return on equity of 136.54% and a net margin of 15.57%. The company’s quarterly revenue increased 10.6% year-over-year. In the same quarter of the previous year, the company posted EPS of $ 0.87.
A number of stock analysts recently commented on NTAP stocks. Wells Fargo & Company raised its price target on NetApp from $ 87.00 to $ 95 and gave the stock an “equal weight” rating in a Wednesday, December 1 research note. Raymond James raised his price target on NetApp from $ 100.00 to $ 104.00 and gave the stock an “outperformance” rating in a research note on Thursday, August 26. Loop Capital raised its price target on NetApp from $ 90.00 to $ 95 and gave the stock a “buy” rating in a research note on Thursday, August 26. William Blair reissued an “outperformance” rating on NetApp stocks in a report released Thursday, August 26. Finally, Morgan Stanley lowered its price target on NetApp shares from $ 102.00 to $ 98.00 and set an “overweight” rating on the stock in a report released on Wednesday, December 1. A stock research analyst rated the stock with a sell rating, seven issued a keep rating, and fifteen assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of âBuyâ and an average target price of $ 95.11.
In related news, the president Caesar Cernuda sold 14,000 shares of the company in a transaction that took place on Wednesday, December 15. The shares were sold at an average price of $ 87.13, for a total trade of $ 1,219,820.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Georges kurian sold 4,250 shares of the company in a transaction that took place on Monday, December 20. The shares were sold at an average price of $ 87.02, for a total trade of $ 369,835.00. Disclosure of this sale can be found here. Insiders sold 43,999 shares of the company valued at $ 3,935,284 during the last quarter. Company insiders own 0.28% of the company’s shares.
A number of institutional investors have recently bought and sold shares in the company. Assetmark Inc. increased its position in NetApp by 150.4% during the 3rd quarter. Assetmark Inc. now owns 288 shares of the data storage provider valued at $ 26,000 after purchasing 173 more shares in the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. increased its position in NetApp by 57.9% in the 3rd quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. Now owns 300 shares of the data storage provider valued at $ 27,000 after purchasing an additional 110 shares in the last quarter. Achmea Investment Management BV acquired a new position in NetApp during the third quarter worth approximately $ 35,000. Strategic Blueprint LLC purchased a new position in NetApp during the 2nd quarter valued at approximately $ 40,000. Finally, Allworth Financial LP increased its position in NetApp by 39.1% during the 3rd quarter. Allworth Financial LP now owns 491 shares of the data storage provider valued at $ 44,000 after purchasing 138 additional shares in the last quarter. Hedge funds and other institutional investors hold 92.05% of the company’s shares.
Shares of NetApp traded up $ 0.73 during trading hours on Friday, reaching $ 90.63. 1,583,336 shares of the company were traded, for an average volume of 1,672,935. NetApp has a 52-week low of $ 58.83 and a 52-week high of $ 94.69. The company has a market cap of $ 20.15 billion, a price / earnings ratio of 22.00, a price / earnings-growth ratio of 2.43, and a beta of 1.23. The company has a current ratio of 1.77, a quick ratio of 1.73, and a debt ratio of 3.47. The company has a fifty-day moving average of $ 89.65 and a 200-day moving average of $ 86.49.
The company also recently unveiled a quarterly dividend, which will be paid on Wednesday, January 26. Investors of record on Friday, January 7 will receive a dividend of $ 0.50 per share. The ex-dividend date is Thursday January 6. This represents a dividend of $ 2.00 on an annualized basis and a dividend yield of 2.21%. NetApp’s dividend payout ratio is currently 48.54%.
NetApp, Inc provides software, systems, and services to manage and share data on-premises and in private and public clouds around the world. The company offers cloud data services, including NetApp Cloud Volumes Service for AWS, NetApp Cloud Volumes ONTAP, NetApp Cloud Sync, NetApp Cloud Secure, NetApp Cloud Tiering, NetApp SaaS Backup, NetApp Kubernetes Service, and NetApp Cloud Insights.
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