NetApp (NTAP) to Release Quarterly Earnings on Thursday

NetApp (NASDAQ:NTAP) is set to 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 interested in registering for the company’s earnings conference call can do so using this link.

NetApp (NASDAQ:NTAP) last released its earnings results on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.11. The firm had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.53 billion. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.84 earnings per share. 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

NASDAQ:NTAP opened at $122.20 on Wednesday. The company has a market cap of $25.02 billion, a P/E ratio of 23.87, a P/E/G ratio of 3.01 and a beta of 1.24. The firm’s 50 day moving average is $121.41 and its two-hundred day moving average is $122.35. NetApp has a fifty-two week low of $77.08 and a fifty-two week high of $135.01. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 1.34.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, October 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.70%. NetApp’s payout ratio is currently 40.63%.

Insider Transactions at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 705 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $126.20, for a total value of $88,971.00. Following the sale, the executive vice president now owns 11,694 shares in the company, valued at $1,475,782.80. This represents a 5.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Lorenzo Daniel De sold 326 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $117.44, for a total value of $38,285.44. The disclosure for this sale can be found here. Insiders sold 19,716 shares of company stock valued at $2,410,457 over the last quarter. Corporate insiders own 0.47% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on NTAP. Evercore ISI increased their target price on NetApp from $120.00 to $130.00 and gave the company an “in-line” rating in a research note on Monday, August 12th. Loop Capital upgraded NetApp from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $121.00 to $150.00 in a research report on Tuesday, September 3rd. UBS Group raised their price target on NetApp from $121.00 to $134.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Stifel Nicolaus raised their target price on shares of NetApp from $138.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Barclays boosted their target price on NetApp from $116.00 to $119.00 and gave the stock an “equal weight” rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $129.06.

NetApp Company Profile

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.