NetApp (NTAP) Scheduled to Post Quarterly Earnings on Thursday

NetApp (NASDAQ:NTAP) will 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 wish to register for the company’s conference call can do so using this link.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, August 28th. The data storage provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.11. NetApp had a net margin of 17.01% and a return on equity of 121.41%. The business 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 earned $0.84 earnings per share. The business’s quarterly revenue 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 Down 1.0 %

Shares of NASDAQ NTAP opened at $119.68 on Thursday. NetApp has a one year low of $76.41 and a one 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 firm’s 50 day simple moving average is $121.07 and its two-hundred day simple moving average is $121.76. The stock has a market capitalization of $24.51 billion, a P/E ratio of 23.38, a PEG ratio of 4.54 and a beta of 1.24.

NetApp Dividend Announcement

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

Insider Buying and Selling at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 1,685 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $123.60, for a total transaction of $208,266.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Lorenzo Daniel De sold 1,685 shares of NetApp 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 transaction 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 NetApp stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $126.11, for a total value 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,890 shares of company stock valued at $1,369,172. 0.47% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NTAP shares. JPMorgan Chase & Co. increased their price target on shares of NetApp from $146.00 to $147.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Barclays increased their price target on shares of NetApp from $116.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, August 29th. Evercore ISI raised 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. Stifel Nicolaus raised their target price on shares of NetApp from $138.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Wedbush restated a “neutral” rating and issued a $120.00 target price on shares of NetApp in a report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, NetApp has an average rating of “Hold” and a consensus price target 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.