NetApp (NTAP) Set to Announce Earnings on Thursday

NetApp (NASDAQ:NTAP) will be releasing its earnings data after the market closes on Thursday, May 30th. Analysts expect NetApp to post earnings of $1.48 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Thursday, February 29th. The data storage provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.69 by $0.25. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.59 billion. NetApp had a net margin of 15.21% and a return on equity of 109.49%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.02 earnings per share. On average, analysts expect NetApp to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

NetApp Stock Performance

Shares of NetApp stock opened at $114.11 on Thursday. The firm has a market capitalization of $23.55 billion, a P/E ratio of 25.93, a P/E/G ratio of 2.34 and a beta of 1.27. NetApp has a 52 week low of $65.71 and a 52 week high of $114.22. The company has a quick ratio of 1.11, a current ratio of 1.15 and a debt-to-equity ratio of 2.00. The firm’s 50 day moving average is $104.78 and its two-hundred day moving average is $93.59.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Friday, April 5th were paid a $0.50 dividend. The ex-dividend date was Thursday, April 4th. This represents a $2.00 annualized dividend and a yield of 1.75%. NetApp’s dividend payout ratio is currently 45.45%.

Wall Street Analyst Weigh In

Several equities analysts have commented on NTAP shares. UBS Group increased their price target on shares of NetApp from $93.00 to $96.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Susquehanna raised their target price on shares of NetApp from $115.00 to $130.00 and gave the stock a “positive” rating in a research report on Wednesday. TD Cowen raised their target price on shares of NetApp from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Evercore ISI raised their target price on shares of NetApp from $95.00 to $105.00 and gave the stock an “in-line” rating in a research report on Friday, March 1st. Finally, Barclays raised their target price on shares of NetApp from $80.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $103.27.

Insider Buying and Selling at NetApp

In other NetApp news, CEO George Kurian sold 8,500 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $103.16, for a total value of $876,860.00. Following the completion of the sale, the chief executive officer now owns 252,702 shares of the company’s stock, valued at $26,068,738.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other NetApp news, CEO George Kurian sold 8,500 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $103.16, for a total value of $876,860.00. Following the completion of the sale, the chief executive officer now owns 252,702 shares of the company’s stock, valued at $26,068,738.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 871 shares of NetApp stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $103.02, for a total value of $89,730.42. Following the transaction, the executive vice president now directly owns 9,601 shares of the company’s stock, valued at approximately $989,095.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,371 shares of company stock valued at $4,139,505. 0.37% of the stock is owned by company insiders.

About NetApp

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.