Equities research analysts predict that NetApp, Inc. (NASDAQ:NTAP) will post earnings of $0.90 per share for the current quarter, Zacks reports. Eight analysts have issued estimates for NetApp’s earnings. The lowest EPS estimate is $0.86 and the highest is $0.92. NetApp reported earnings of $0.82 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.8%. The business is scheduled to issue its next earnings report on Wednesday, February 21st.

According to Zacks, analysts expect that NetApp will report full-year earnings of $3.31 per share for the current financial year, with EPS estimates ranging from $3.14 to $3.44. For the next year, analysts forecast that the firm will post earnings of $3.59 per share, with EPS estimates ranging from $3.35 to $3.99. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow NetApp.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results 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. NetApp had a net margin of 11.49% and a return on equity of 26.77%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the company earned $0.60 EPS. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year.

Several equities research analysts have issued reports on NTAP shares. Citigroup raised their price target on shares of NetApp from $41.00 to $43.00 and gave the stock 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 note 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 note on Wednesday, August 16th. DA Davidson raised their price target on shares of NetApp from $53.00 to $56.00 and gave the stock a “buy” rating in a research note on Tuesday, November 14th. Finally, BMO Capital Markets raised shares of NetApp from a “market perform” rating to an “outperform” rating and raised their price target for the stock 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 issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $49.04.

In other news, Director Richard P. Wallace sold 34,000 shares of NetApp stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $43.53, for a total transaction of $1,480,020.00. Following the sale, the director now owns 24,132 shares in the company, valued at $1,050,465.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Henri P. Richard sold 1,976 shares of NetApp stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $55.91, for a total transaction of $110,478.16. Following the sale, the executive vice president now owns 11,884 shares in the company, valued at approximately $664,434.44. The disclosure for this sale can be found here. Insiders sold 187,036 shares of company stock worth $9,316,158 in the last 90 days. 0.47% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of NTAP. Vanguard Group Inc. grew its position in shares of NetApp by 1.8% during the second quarter. Vanguard Group Inc. now owns 27,214,474 shares of the data storage provider’s stock worth $1,089,939,000 after buying an additional 481,365 shares in the last quarter. BlackRock Inc. grew its position in shares of NetApp by 7.5% during the second quarter. BlackRock Inc. now owns 21,648,037 shares of the data storage provider’s stock worth $867,006,000 after buying an additional 1,517,967 shares in the last quarter. Boston Partners acquired a new stake in shares of NetApp during the third quarter worth approximately $315,629,000. Bank of New York Mellon Corp grew its position in shares of NetApp by 25.2% during the third quarter. Bank of New York Mellon Corp now owns 4,061,906 shares of the data storage provider’s stock worth $177,748,000 after buying an additional 817,147 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of NetApp by 781.1% during the second quarter. Renaissance Technologies LLC now owns 3,339,574 shares of the data storage provider’s stock worth $133,750,000 after buying an additional 2,960,542 shares in the last quarter. Institutional investors own 93.92% of the company’s stock.

Shares of NetApp (NASDAQ NTAP) opened at $57.21 on Thursday. NetApp has a 12 month low of $34.72 and a 12 month high of $58.11. The stock has a market cap of $14,921.67, a PE ratio of 21.03, a price-to-earnings-growth ratio of 1.81 and a beta of 1.28. The company has a current ratio of 1.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.55.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $0.80 annualized dividend and a yield of 1.40%. NetApp’s payout ratio is 34.33%.

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About NetApp

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.

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Earnings History and Estimates for NetApp (NASDAQ:NTAP)

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