NetApp (NTAP) Issues Quarterly Earnings Results, Beats Estimates By $0.12 EPS


NetApp (NASDAQ:NTAP) issued its quarterly earnings data on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.12, Bloomberg Earnings reports. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. NetApp had a return on equity of 26.77% and a net margin of 11.49%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 EPS. NetApp updated its Q3 guidance to $0.86-0.94 EPS.

NetApp (NASDAQ:NTAP) opened at $56.41 on Friday. NetApp has a 12 month low of $34.72 and a 12 month high of $57.75. The company has a market cap of $15,049.74, a price-to-earnings ratio of 21.21, a PEG ratio of 1.83 and a beta of 1.27. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.64 and a current ratio of 1.67.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $0.80 annualized dividend and a dividend yield of 1.42%. NetApp’s dividend payout ratio (DPR) is 34.33%.

Several analysts have commented on NTAP shares. Citigroup boosted their price objective on shares of NetApp from $41.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday, August 17th. ValuEngine raised shares of NetApp from a “hold” rating to a “buy” rating in a research report on Thursday, November 16th. Susquehanna Bancshares reaffirmed a “positive” rating and set a $50.00 price target (up from $48.00) on shares of NetApp in a research report on Wednesday, August 16th. DA Davidson boosted their price objective on shares of NetApp from $53.00 to $56.00 and gave the stock a “buy” rating in a report on Tuesday, November 14th. Finally, BMO Capital Markets upgraded shares of NetApp from a “market perform” rating to an “outperform” rating and upped their target price for the company from $43.00 to $62.00 in a research note on Thursday, November 16th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $49.04.

In related news, Director Richard P. Wallace sold 34,000 shares of the firm’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $43.53, for a total value of $1,480,020.00. Following the transaction, the director now directly owns 24,132 shares in the company, valued at approximately $1,050,465.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Henri P. Richard sold 1,976 shares of the firm’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $42.01, for a total transaction of $83,011.76. Following the completion of the transaction, the executive vice president now owns 17,812 shares in the company, valued at $748,282.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 185,060 shares of company stock worth $9,205,680. 0.47% of the stock is currently owned by company insiders.

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NetApp Company Profile

NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.

Earnings History for NetApp (NASDAQ:NTAP)

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