NetApp Inc. (NTAP) Plans Quarterly Dividend of $0.15
NetApp (NASDAQ:NTAP) declared a quarterly dividend on Friday, February 14th, Stock Ratings News reports. Stockholders of record on Thursday, April 10th will be given a dividend of 0.15 per share on Tuesday, April 22nd. This represents a $0.60 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Tuesday, April 8th.
A number of research firms have recently commented on NTAP. Analysts at RBC Capital reiterated a “sector perform” rating on shares of NetApp in a research note on Thursday. They now have a $41.00 price target on the stock, down previously from $42.00. On the ratings front, analysts at TheStreet reiterated a “positive” rating on shares of NetApp in a research note on Friday, February 7th. Finally, analysts at Piper Jaffray upgraded shares of NetApp from a “neutral” rating to an “overweight” rating in a research note on Monday, February 3rd. They now have a $52.00 price target on the stock, up previously from $38.00. One analyst has rated the stock with a sell rating, twenty have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $45.20.
Shares of NetApp (NASDAQ:NTAP) traded down 0.92% during mid-day trading on Friday, hitting $40.72. 5,222,601 shares of the company’s stock traded hands. NetApp has a 52-week low of $32.75 and a 52-week high of $45.96. The stock’s 50-day moving average is $42.19 and its 200-day moving average is $41.54. The company has a market cap of $13.878 billion and a P/E ratio of 25.61. NetApp also was the recipient of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 5,811,221 shares, a drop of 27.1% from the January 15th total of 7,974,085 shares. Based on an average daily volume of 4,589,324 shares, the days-to-cover ratio is presently 1.3 days. Approximately 1.7% of the shares of the company are short sold.
NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.75 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.71 by $0.04. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the company posted $0.67 earnings per share. NetApp’s revenue was down 1.2% compared to the same quarter last year. On average, analysts predict that NetApp will post $2.74 earnings per share for the current fiscal year.
NetApp, Inc (NASDAQ:NTAP) is a provider of storage systems and data management solutions for information technology (IT) infrastructures.
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