Analysts expect that NetApp Inc. (NASDAQ:NTAP) will report earnings per share of $1.19 for the current quarter, according to Zacks. Six analysts have made estimates for NetApp’s earnings, with the highest EPS estimate coming in at $1.22 and the lowest estimate coming in at $1.15. NetApp posted earnings per share of $1.20 in the same quarter last year, which would indicate a negative year-over-year growth rate of 0.8%. The business is scheduled to announce its next earnings results on Wednesday, February 12th.
On average, analysts expect that NetApp will report full-year earnings of $4.30 per share for the current year, with EPS estimates ranging from $4.25 to $4.36. For the next financial year, analysts expect that the firm will post earnings of $4.70 per share, with EPS estimates ranging from $4.51 to $4.86. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow NetApp.
NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Wednesday, November 13th. The data storage provider reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.15. NetApp had a return on equity of 95.04% and a net margin of 17.20%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the company posted $1.06 EPS. NetApp’s quarterly revenue was down 9.6% compared to the same quarter last year.
A number of equities analysts recently commented on NTAP shares. Summit Insights downgraded NetApp from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Credit Suisse Group lifted their price target on shares of NetApp from $60.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Argus boosted their price objective on shares of NetApp from $66.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 15th. William Blair restated a “market perform” rating on shares of NetApp in a report on Thursday, November 14th. Finally, Susquehanna Bancshares upgraded shares of NetApp from a “neutral” rating to a “positive” rating and upped their price objective for the stock from $54.00 to $75.00 in a report on Monday, September 9th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $62.85.
Shares of NTAP stock traded up $0.82 during trading hours on Friday, reaching $59.40. The company’s stock had a trading volume of 71,151 shares, compared to its average volume of 2,575,815. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 2.14. NetApp has a one year low of $44.55 and a one year high of $78.35. The stock has a market capitalization of $13.83 billion, a P/E ratio of 14.80, a P/E/G ratio of 1.37 and a beta of 1.59. The firm’s fifty day simple moving average is $58.33 and its 200 day simple moving average is $56.63.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 23rd. Stockholders of record on Friday, January 3rd will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Thursday, January 2nd. NetApp’s dividend payout ratio is presently 47.76%.
Institutional investors have recently modified their holdings of the stock. Kistler Tiffany Companies LLC boosted its position in NetApp by 315.4% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 511 shares of the data storage provider’s stock valued at $32,000 after buying an additional 388 shares during the period. CWM LLC grew its position in NetApp by 113.0% during the second quarter. CWM LLC now owns 639 shares of the data storage provider’s stock valued at $39,000 after acquiring an additional 339 shares during the period. Rational Advisors LLC increased its stake in NetApp by 1,256.9% during the second quarter. Rational Advisors LLC now owns 692 shares of the data storage provider’s stock worth $43,000 after acquiring an additional 641 shares during the last quarter. North Star Investment Management Corp. purchased a new position in shares of NetApp in the 3rd quarter worth about $40,000. Finally, Cullen Frost Bankers Inc. lifted its stake in shares of NetApp by 6,900.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 770 shares of the data storage provider’s stock valued at $48,000 after purchasing an additional 759 shares in the last quarter. Institutional investors own 99.41% of the company’s stock.
NetApp Company Profile
NetApp, Inc provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.
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