NetApp (NASDAQ:NTAP) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.12-1.18 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.12. The company issued revenue guidance of $1.55-1.65 billion, compared to the consensus revenue estimate of $1.60 billion.NetApp also updated its Q3 2019 guidance to $1.12-1.18 EPS.
NTAP traded down $0.86 on Wednesday, hitting $78.03. 3,281,917 shares of the stock were exchanged, compared to its average volume of 2,875,329. NetApp has a 12 month low of $45.24 and a 12 month high of $88.08. The company has a quick ratio of 2.03, a current ratio of 2.06 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $20.45 billion, a price-to-earnings ratio of 26.10, a P/E/G ratio of 1.42 and a beta of 1.38.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, November 14th. The data storage provider reported $1.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.07. NetApp had a net margin of 3.68% and a return on equity of 41.75%. The business had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the prior year, the business posted $0.81 earnings per share. NetApp’s revenue was up 7.2% compared to the same quarter last year. Sell-side analysts anticipate that NetApp will post 3.92 EPS for the current fiscal year.
In other news, VP Joel D. Reich sold 7,157 shares of the company’s stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $86.83, for a total value of $621,442.31. Following the completion of the transaction, the vice president now owns 603 shares of the company’s stock, valued at $52,358.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO George Kurian sold 36,646 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $81.69, for a total value of $2,993,611.74. Following the completion of the transaction, the chief executive officer now directly owns 64,147 shares of the company’s stock, valued at approximately $5,240,168.43. The disclosure for this sale can be found here. Insiders sold 127,451 shares of company stock valued at $10,579,434 in the last ninety days. 0.19% of the stock is currently owned by insiders.
COPYRIGHT VIOLATION NOTICE: This article was originally posted by WKRB News and is the sole property of of WKRB News. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this article can be viewed at https://www.wkrb13.com/2018/11/15/netapp-ntap-updates-q3-earnings-guidance.html.
NetApp, Inc provides software, systems, and services to manage and share date 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.
Further Reading: What are trading strategies for the 52-week high/low?
Receive News & Ratings for NetApp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetApp and related companies with MarketBeat.com's FREE daily email newsletter.