NetApp (NTAP) Issues Q4 Earnings Guidance

NetApp (NASDAQ:NTAP) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.95-1.03 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.00. The company issued revenue guidance of $1.525-1.675 billion, compared to the consensus revenue estimate of $1.57 billion.

Shares of NetApp (NASDAQ:NTAP) traded up $1.90 during mid-day trading on Wednesday, hitting $60.64. The stock had a trading volume of 5,596,051 shares, compared to its average volume of 2,919,960. NetApp has a twelve month low of $37.43 and a twelve month high of $64.06. The company has a quick ratio of 1.64, a current ratio of 1.67 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $16,170.00, a P/E ratio of 26.01, a price-to-earnings-growth ratio of 1.84 and a beta of 1.33.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results 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 return on equity of 26.77% and a net margin of 11.49%. The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. NetApp’s revenue for the quarter was up 6.1% compared to the same quarter last year. analysts anticipate that NetApp will post 2.76 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Friday, April 6th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.32%. NetApp’s payout ratio is 34.33%.

NTAP has been the subject of a number of research reports. UBS Group lifted their price objective on NetApp from $62.00 to $71.00 and gave the company a buy rating in a research report on Friday, January 26th. Deutsche Bank lifted their price objective on NetApp from $27.00 to $37.00 and gave the company a sell rating in a research report on Thursday, November 16th. Royal Bank of Canada lifted their price objective on NetApp from $45.00 to $50.00 and gave the company a sector perform rating in a research report on Monday, November 13th. BMO Capital Markets raised NetApp from a market perform rating to an outperform rating and lifted their price objective for the company from $43.00 to $62.00 in a research report on Thursday, November 16th. Finally, Morgan Stanley reissued a sell rating and set a $41.00 price objective (up previously from $38.00) on shares of NetApp in a research report on Thursday, November 16th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and sixteen have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $53.85.

In related news, VP Joel D. Reich sold 3,371 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $53.17, for a total transaction of $179,236.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Henri P. Richard sold 1,976 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $55.91, for a total value of $110,478.16. Following the transaction, the executive vice president now directly owns 11,884 shares of the company’s stock, valued at approximately $664,434.44. 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 three months. 0.47% of the stock is owned by insiders.

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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.

Earnings History and Estimates for NetApp (NASDAQ:NTAP)

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