NetApp (NTAP) Scheduled to Post Earnings on Thursday

NetApp (NASDAQ:NTAP) is set to issue its quarterly earnings data after the market closes on Thursday, November 21st. Analysts expect the company to announce earnings of $1.79 per share for the quarter. Individual interested in participating in 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 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.11. The company 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 quarter last year, the business earned $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 Stock Performance

Shares of NASDAQ NTAP opened at $122.20 on Wednesday. NetApp has a 1 year low of $77.08 and a 1 year high of $135.01. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.96 and a quick ratio of 0.91. The stock has a market cap of $25.02 billion, a PE ratio of 23.87, a price-to-earnings-growth ratio of 3.01 and a beta of 1.24. The firm has a fifty day moving average price of $121.41 and a 200-day moving average price of $122.35.

NetApp Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 1.70%. NetApp’s dividend payout ratio is currently 40.63%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NTAP shares. Oppenheimer started coverage on NetApp in a report on Wednesday, November 13th. They set a “market perform” rating on the stock. Evercore ISI increased their target price on shares of NetApp from $120.00 to $130.00 and gave the stock an “in-line” rating in a report on Monday, August 12th. UBS Group increased their price objective on shares of NetApp from $121.00 to $134.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Wedbush reiterated a “neutral” rating and issued a $120.00 target price on shares of NetApp in a research note on Monday, August 26th. Finally, Susquehanna reiterated a “positive” rating and set a $155.00 price objective on shares of NetApp in a research note on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, NetApp presently has a consensus rating of “Hold” and a consensus price target of $129.06.

Insider Transactions at NetApp

In other news, CEO George Kurian sold 8,500 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $126.11, for a total value of $1,071,935.00. Following the transaction, the chief executive officer now owns 292,778 shares of the company’s stock, valued at approximately $36,922,233.58. This trade represents a 2.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lorenzo Daniel De sold 1,685 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was 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 a total of 19,716 shares of company stock valued at $2,410,457 in the last ninety days. Corporate insiders own 0.47% of the company’s stock.

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.