NetApp (NTAP) Set to Announce Quarterly Earnings on Thursday

NetApp (NASDAQ:NTAP) will 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 that are interested in registering for the company’s earnings conference call can do so using this link.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.11. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period last year, the business earned $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 Stock Up 1.8 %

Shares of NASDAQ NTAP opened at $119.34 on Tuesday. The stock has a market cap of $24.44 billion, a PE ratio of 23.31, a PEG ratio of 3.01 and a beta of 1.24. The business has a fifty day moving average of $121.26 and a two-hundred day moving average of $122.23. NetApp has a 52-week low of $77.08 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. Investors of record on Friday, October 4th were issued a $0.52 dividend. The ex-dividend date was Friday, October 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.74%. NetApp’s dividend payout ratio is 40.62%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NTAP shares. Barclays lifted their price target on NetApp from $116.00 to $119.00 and gave the company an “equal weight” rating in a report on Thursday, August 29th. Stifel Nicolaus lifted their price target on NetApp from $138.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Oppenheimer started coverage on NetApp in a report on Wednesday, November 13th. They issued a “market perform” rating for the company. JPMorgan Chase & Co. lifted their price target on NetApp from $146.00 to $147.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, Evercore ISI lifted their price target on NetApp from $120.00 to $130.00 and gave the company an “in-line” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, NetApp currently has a consensus rating of “Hold” and a consensus price target of $129.06.

Insider Transactions at NetApp

In related news, EVP Elizabeth M. O’callahan sold 705 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was 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 directly owns 11,694 shares in the company, valued at approximately $1,475,782.80. The trade was a 5.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 292,778 shares of the company’s stock, valued at $36,922,233.58. This represents a 2.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,890 shares of company stock worth $1,369,172. 0.47% of the stock is currently owned by company insiders.

About NetApp

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.