Zacks: Analysts Expect NetApp Inc. (NTAP) to Post $0.90 EPS

Wall Street analysts expect NetApp Inc. (NASDAQ:NTAP) to post earnings of $0.90 per share for the current quarter, according to Zacks. Eight analysts have made estimates for NetApp’s earnings, with estimates ranging from $0.86 to $0.93. NetApp posted earnings per share of $0.82 in the same quarter last year, which suggests a positive year-over-year growth rate of 9.8%. The firm is scheduled to report its next quarterly earnings results after the market closes on Wednesday, February 14th.

According to Zacks, analysts expect that NetApp will report full year earnings of $3.34 per share for the current year, with EPS estimates ranging from $3.25 to $3.44. For the next financial year, analysts expect that the firm will report earnings of $3.65 per share, with EPS estimates ranging from $3.37 to $3.99. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover NetApp.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NetApp had a net margin of 11.49% and a return on equity of 26.77%. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same period last year, the firm posted $0.60 EPS. NetApp’s quarterly revenue was up 6.1% on a year-over-year basis.

A number of equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of NetApp from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. Goldman Sachs Group assumed coverage on shares of NetApp in a research report on Wednesday, February 7th. They issued a “neutral” rating and a $64.00 price objective on the stock. ValuEngine upgraded shares of NetApp from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. UBS Group lifted their price objective on shares of NetApp from $62.00 to $71.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Finally, Morgan Stanley upgraded shares of NetApp from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $41.00 to $64.00 in a research report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, twenty-one have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $52.81.

NetApp (NASDAQ NTAP) opened at $57.73 on Tuesday. NetApp has a 1 year low of $37.43 and a 1 year high of $64.06. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.67 and a quick ratio of 1.64. The firm has a market cap of $14,985.70, a price-to-earnings ratio of 24.78, a P/E/G ratio of 1.79 and a beta of 1.32.

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Thursday, January 4th. NetApp’s dividend payout ratio (DPR) is presently 34.33%.

In other news, CEO George Kurian sold 7,020 shares of NetApp stock in a transaction on Monday, February 5th. The stock was sold at an average price of $59.48, for a total transaction of $417,549.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George T. Shaheen sold 36,916 shares of NetApp stock in a transaction on Friday, November 17th. The stock was sold at an average price of $53.10, for a total value of $1,960,239.60. The disclosure for this sale can be found here. Insiders have sold a total of 176,629 shares of company stock valued at $9,568,956 in the last ninety days. Corporate insiders own 0.47% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its position in NetApp by 2.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 10,933 shares of the data storage provider’s stock worth $440,000 after purchasing an additional 228 shares in the last quarter. IFP Advisors Inc increased its position in NetApp by 45.3% during the 4th quarter. IFP Advisors Inc now owns 2,571 shares of the data storage provider’s stock worth $142,000 after purchasing an additional 801 shares in the last quarter. Quantitative Systematic Strategies LLC increased its position in NetApp by 11.5% during the 4th quarter. Quantitative Systematic Strategies LLC now owns 9,358 shares of the data storage provider’s stock worth $518,000 after purchasing an additional 962 shares in the last quarter. SG Americas Securities LLC increased its position in NetApp by 0.4% during the 4th quarter. SG Americas Securities LLC now owns 264,699 shares of the data storage provider’s stock worth $14,643,000 after purchasing an additional 981 shares in the last quarter. Finally, DnB Asset Management AS increased its position in NetApp by 3.3% during the 4th quarter. DnB Asset Management AS now owns 31,397 shares of the data storage provider’s stock worth $1,737,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 96.67% of the company’s stock.

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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.

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Earnings History and Estimates for NetApp (NASDAQ:NTAP)

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