Equities analysts forecast that NetApp Inc. (NASDAQ:NTAP) will report earnings per share of $0.99 for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for NetApp’s earnings, with estimates ranging from $0.95 to $1.09. NetApp reported earnings per share of $0.81 during the same quarter last year, which suggests a positive year-over-year growth rate of 22.2%. The business is expected to issue its next quarterly earnings results after the market closes on Wednesday, November 14th.
On average, analysts expect that NetApp will report full year earnings of $4.43 per share for the current financial year, with EPS estimates ranging from $4.10 to $4.80. For the next year, analysts expect that the company will post earnings of $4.93 per share, with EPS estimates ranging from $4.55 to $5.27. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for NetApp.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, August 15th. The data storage provider reported $1.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.24. NetApp had a net margin of 3.68% and a return on equity of 41.75%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the firm posted $0.62 earnings per share. NetApp’s revenue for the quarter was up 11.6% compared to the same quarter last year.
In other news, VP Joel D. Reich sold 7,157 shares of NetApp stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $86.83, for a total transaction of $621,442.31. Following the sale, the vice president now owns 603 shares in the company, valued at $52,358.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO George Kurian sold 46,638 shares of NetApp stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $84.76, for a total transaction of $3,953,036.88. Following the sale, the chief executive officer now owns 55,950 shares in the company, valued at approximately $4,742,322. The disclosure for this sale can be found here. Insiders have sold 127,451 shares of company stock worth $10,579,434 in the last quarter. Insiders own 0.19% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its position in shares of NetApp by 270.0% during the second quarter. Renaissance Technologies LLC now owns 2,332,932 shares of the data storage provider’s stock worth $183,205,000 after buying an additional 1,702,432 shares in the last quarter. Palo Capital Inc. acquired a new stake in shares of NetApp during the second quarter worth approximately $4,465,000. Berkshire Capital Holdings Inc. acquired a new stake in shares of NetApp during the second quarter worth approximately $7,588,000. Ontario Teachers Pension Plan Board grew its position in shares of NetApp by 10.9% during the second quarter. Ontario Teachers Pension Plan Board now owns 30,826 shares of the data storage provider’s stock worth $2,421,000 after buying an additional 3,041 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of NetApp by 11.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 878,166 shares of the data storage provider’s stock worth $68,962,000 after buying an additional 92,890 shares in the last quarter. 95.52% of the stock is owned by institutional investors and hedge funds.
NASDAQ NTAP traded down $1.18 during mid-day trading on Monday, hitting $81.66. The company’s stock had a trading volume of 2,957,926 shares, compared to its average volume of 2,835,581. NetApp has a 52-week low of $45.24 and a 52-week high of $88.08. The company has a debt-to-equity ratio of 0.80, a quick ratio of 2.03 and a current ratio of 2.06. The firm has a market capitalization of $21.47 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 1.50 and a beta of 1.38.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 24th. Stockholders of record on Friday, October 5th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, October 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.96%. NetApp’s dividend payout ratio is currently 53.51%.
NetApp, Inc provides software, systems, and services to manage and share date on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.
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