NetApp (NTAP) Scheduled to Post Quarterly Earnings on Thursday

NetApp (NASDAQ:NTAP) will release its earnings data after the market closes on Thursday, November 21st. Analysts expect NetApp to post earnings of $1.79 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, August 28th. The data storage provider reported $1.56 EPS for the quarter, beating the consensus estimate of $1.45 by $0.11. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.53 billion. NetApp had a net margin of 17.01% and a return on equity of 121.41%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.84 EPS. On average, analysts expect NetApp to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

NetApp Trading Down 1.0 %

NTAP opened at $119.68 on Thursday. The stock has a market capitalization of $24.51 billion, a P/E ratio of 23.38, a P/E/G ratio of 4.54 and a beta of 1.24. NetApp has a 12 month low of $76.41 and a 12 month high of $135.01. The firm’s fifty day simple moving average is $121.07 and its 200 day simple moving average is $121.76. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 1.34.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.08 annualized dividend and a yield of 1.74%. NetApp’s dividend payout ratio is currently 40.62%.

Analyst Upgrades and Downgrades

NTAP has been the topic of several analyst reports. Barclays boosted their price target on shares of NetApp from $116.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 29th. Oppenheimer initiated coverage on shares of NetApp in a research report on Wednesday. They set a “market perform” rating on the stock. Loop Capital raised shares of NetApp from a “hold” rating to a “buy” rating and boosted their price target for the stock from $121.00 to $150.00 in a research report on Tuesday, September 3rd. Wedbush reissued a “neutral” rating and set a $120.00 price target on shares of NetApp in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. boosted their price target on shares of NetApp from $146.00 to $147.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $129.06.

Insider Transactions at NetApp

In related news, EVP Elizabeth M. O’callahan sold 705 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $126.20, for a total value of $88,971.00. Following the completion of the transaction, the executive vice president now owns 11,694 shares of the company’s stock, valued at $1,475,782.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Elizabeth M. O’callahan sold 705 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $126.20, for a total value of $88,971.00. Following the completion of the transaction, the executive vice president now owns 11,694 shares of the company’s stock, valued at $1,475,782.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO George Kurian sold 8,500 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $126.11, for a total transaction of $1,071,935.00. Following the completion of the transaction, the chief executive officer now directly owns 292,778 shares of the company’s stock, valued at approximately $36,922,233.58. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,890 shares of company stock valued at $1,369,172. Company insiders own 0.47% of the company’s stock.

About NetApp

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.