NetApp Inc. (NTAP) Plans Quarterly Dividend of $0.17
NetApp (NASDAQ:NTAP) declared a quarterly dividend on Wednesday, August 13th, AR Network reports. Stockholders of record on Friday, October 10th will be given a dividend of 0.165 per share on Wednesday, October 22nd. This represents a $0.66 dividend on an annualized basis and a yield of 1.68%.
A number of research firms have recently commented on NTAP. Analysts at RBC Capital raised their price target on shares of NetApp from $38.00 to $41.00 in a research note on Friday, August 8th. On the ratings front, analysts at Evercore Partners raised their price target on shares of NetApp from $4.00 to $43.00 in a research note on Friday, August 8th. Finally, analysts at Pacific Crest raised their price target on shares of NetApp from $41.00 to $46.00 in a research note on Thursday, August 7th. They now have an “outperform” rating on the stock. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $40.11.
NetApp (NASDAQ:NTAP) traded up 0.03% on Wednesday, hitting $39.30. 3,713,682 shares of the company’s stock traded hands. NetApp has a one year low of $33.34 and a one year high of $45.96. The stock has a 50-day moving average of $37.54 and a 200-day moving average of $37.55. The company has a market cap of $12.714 billion and a P/E ratio of 21.47. NetApp also was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 7,973,104 shares, a growth of 36.1% from the July 15th total of 5,858,719 shares. Approximately 2.5% of the company’s stock are short sold. Based on an average daily trading volume, of 3,428,833 shares, the days-to-cover ratio is presently 2.3 days.
NetApp (NASDAQ:NTAP) last released its earnings data on Wednesday, August 13th. The company reported $0.60 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.57 by $0.03. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.47 billion. Analysts expect that NetApp will post $2.96 EPS for the current fiscal year.
In other NetApp news, Director Daniel J. Warmenhoven unloaded 20,000 shares of the stock on the open market in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $38.44, for a total value of $768,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
NetApp, Inc (NASDAQ:NTAP) is a provider of storage systems and data management solutions for information technology (IT) infrastructures.
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