NetApp (NTAP) Scheduled to Post Quarterly 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. Parties interested in participating in 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.11. The company 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 was up 7.6% compared to the same quarter last year. During the same period last 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 Trading Down 1.0 %

Shares of NASDAQ:NTAP opened at $119.68 on Thursday. The company has a market cap of $24.51 billion, a P/E ratio of 23.38, a P/E/G ratio of 4.54 and a beta of 1.24. The stock’s 50-day moving average is $121.07 and its 200-day moving average is $121.76. NetApp has a 52-week low of $76.41 and a 52-week high of $135.01. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.91 and a current ratio of 0.96.

NetApp Dividend Announcement

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

Insiders Place Their Bets

In other NetApp news, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction 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 completion of the sale, the chief executive officer now owns 292,778 shares of the company’s stock, valued at approximately $36,922,233.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Elizabeth M. O’callahan sold 705 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $126.20, for a total value of $88,971.00. Following the completion of the transaction, the executive vice president now owns 11,694 shares of the company’s stock, valued at $1,475,782.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 292,778 shares of the company’s stock, valued at $36,922,233.58. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,890 shares of company stock valued at $1,369,172. Company insiders own 0.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NTAP. Barclays lifted 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. UBS Group raised their price target on shares of NetApp from $121.00 to $134.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Oppenheimer started coverage on shares of NetApp in a research note on Wednesday. They set a “market perform” rating for the company. Loop Capital upgraded shares of NetApp from a “hold” rating to a “buy” rating and lifted their target price for the company from $121.00 to $150.00 in a research note on Tuesday, September 3rd. Finally, Wedbush reiterated a “neutral” rating and issued a $120.00 target price on shares of NetApp in a research note on Monday, August 26th. 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 stock. According to data from MarketBeat, NetApp currently has an average 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.