Analysts Anticipate NetApp Inc. (NASDAQ:NTAP) Will Post Earnings of $0.94 Per Share

Equities analysts predict that NetApp Inc. (NASDAQ:NTAP) will post earnings per share of $0.94 for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for NetApp’s earnings, with the highest EPS estimate coming in at $0.96 and the lowest estimate coming in at $0.92. NetApp reported earnings per share of $1.06 during the same quarter last year, which would indicate a negative year over year growth rate of 11.3%. The company is expected to announce its next quarterly earnings results after the market closes on Wednesday, November 13th.

According to Zacks, analysts expect that NetApp will report full-year earnings of $4.13 per share for the current year, with EPS estimates ranging from $3.98 to $4.22. For the next fiscal year, analysts forecast that the firm will report earnings of $4.58 per share, with EPS estimates ranging from $4.29 to $4.94. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for NetApp.

NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, August 14th. The data storage provider reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.19. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.23 billion. NetApp had a net margin of 16.74% and a return on equity of 77.11%. NetApp’s revenue was down 16.1% on a year-over-year basis. During the same period last year, the business posted $1.04 EPS.

Several research firms recently weighed in on NTAP. ValuEngine raised NetApp from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus cut their price target on NetApp from $75.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Goldman Sachs Group downgraded NetApp from a “buy” rating to a “sell” rating and cut their price target for the company from $61.00 to $45.00 in a research note on Thursday, October 10th. Credit Suisse Group reissued an “outperform” rating and issued a $60.00 price target (down previously from $62.00) on shares of NetApp in a research note on Thursday, August 15th. Finally, Citigroup reissued a “sell” rating and issued a $40.00 price target (down previously from $55.00) on shares of NetApp in a research note on Friday, August 16th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. NetApp presently has an average rating of “Hold” and a consensus price target of $60.70.

Shares of NTAP stock opened at $59.41 on Wednesday. The firm has a market capitalization of $14.16 billion, a PE ratio of 14.78, a P/E/G ratio of 1.42 and a beta of 1.56. NetApp has a 1-year low of $44.55 and a 1-year high of $82.56. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.42 and a quick ratio of 1.39. The business’s fifty day moving average price is $54.25 and its 200 day moving average price is $57.85.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend was Thursday, October 3rd. NetApp’s dividend payout ratio (DPR) is presently 47.76%.

In other news, VP Joel D. Reich sold 3,963 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $47.29, for a total value of $187,410.27. Following the completion of the transaction, the vice president now owns 12,249 shares in the company, valued at approximately $579,255.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gerald Held sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $46.94, for a total value of $469,400.00. Following the completion of the transaction, the director now owns 17,391 shares of the company’s stock, valued at approximately $816,333.54. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,963 shares of company stock valued at $987,420. Corporate insiders own 0.33% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Invesco Ltd. grew its holdings in shares of NetApp by 18.3% in the 2nd quarter. Invesco Ltd. now owns 6,050,117 shares of the data storage provider’s stock valued at $373,291,000 after acquiring an additional 937,586 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its stake in NetApp by 87.8% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 3,221,610 shares of the data storage provider’s stock valued at $878,488,000 after purchasing an additional 1,505,804 shares during the last quarter. First Trust Advisors LP lifted its stake in NetApp by 29.5% in the 3rd quarter. First Trust Advisors LP now owns 2,502,468 shares of the data storage provider’s stock valued at $131,405,000 after purchasing an additional 570,720 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in NetApp by 10.1% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 2,096,462 shares of the data storage provider’s stock valued at $129,352,000 after purchasing an additional 192,312 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in NetApp by 3.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,113,514 shares of the data storage provider’s stock worth $68,704,000 after acquiring an additional 33,283 shares during the last quarter. Institutional investors own 96.35% of the company’s stock.

NetApp Company Profile

NetApp, Inc provides software, systems, and services to manage and share data 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.

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Earnings History and Estimates for NetApp (NASDAQ:NTAP)

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