NetApp (NTAP) Set to Announce Earnings on Thursday

NetApp (NASDAQ:NTAP) is scheduled to be announcing its earnings results after the market closes on Thursday, November 21st. Analysts expect the company to announce earnings of $1.79 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

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

NetApp Stock Performance

Shares of NTAP opened at $119.34 on Tuesday. The business’s fifty day moving average price is $121.26 and its 200 day moving average price is $122.23. NetApp has a 12-month low of $77.08 and a 12-month high of $135.01. The stock has a market capitalization of $24.44 billion, a PE ratio of 23.31, a price-to-earnings-growth ratio of 3.01 and a beta of 1.24. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.96 and a quick ratio of 0.91.

NetApp Dividend Announcement

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

Insider Activity at NetApp

In other NetApp news, CEO George Kurian sold 8,500 shares of NetApp 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 transaction, the chief executive officer now directly owns 292,778 shares in the company, valued at approximately $36,922,233.58. The trade was a 2.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Lorenzo Daniel De sold 1,685 shares of the stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $123.60, for a total value of $208,266.00. The disclosure for this sale can be found here. Insiders sold 10,890 shares of company stock valued at $1,369,172 over the last 90 days. 0.47% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NTAP shares. JPMorgan Chase & Co. raised their price objective on NetApp from $146.00 to $147.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Barclays increased their target price on NetApp from $116.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 29th. Susquehanna reaffirmed a “positive” rating and issued a $155.00 target price on shares of NetApp in a research report on Monday, August 26th. Oppenheimer assumed coverage on NetApp in a research report on Wednesday, November 13th. They issued a “market perform” rating on the stock. Finally, Citigroup increased their target price on NetApp from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, NetApp has a consensus rating of “Hold” and an average target price of $129.06.

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.