NetApp Inc. (NASDAQ:NTAP) to Post Q1 2021 Earnings of $0.76 Per Share, Oppenheimer Forecasts

Share on StockTwits

NetApp Inc. (NASDAQ:NTAP) – Equities research analysts at Oppenheimer issued their Q1 2021 earnings per share estimates for NetApp in a research report issued on Wednesday, August 14th. Oppenheimer analyst G. Iwanyc anticipates that the data storage provider will post earnings of $0.76 per share for the quarter. Oppenheimer also issued estimates for NetApp’s Q2 2021 earnings at $0.89 EPS, Q3 2021 earnings at $1.04 EPS and Q4 2021 earnings at $1.15 EPS.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, August 14th. The data storage provider reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.19. NetApp had a return on equity of 77.11% and a net margin of 16.74%. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the business earned $1.04 earnings per share. The business’s revenue was down 16.1% on a year-over-year basis.

Several other equities analysts also recently commented on NTAP. Cowen restated an “underperform” rating and issued a $40.00 price objective (down from $53.00) on shares of NetApp in a research report on Thursday, August 15th. Morgan Stanley restated a “sell” rating and issued a $41.00 price objective on shares of NetApp in a research report on Sunday, August 11th. Credit Suisse Group restated an “outperform” rating and issued a $60.00 price objective (down from $62.00) on shares of NetApp in a research report on Thursday, August 15th. Piper Jaffray Companies downgraded NetApp from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $75.00 to $48.00 in a research report on Friday, August 2nd. Finally, Goldman Sachs Group restated a “buy” rating and issued a $61.00 price objective (up from $54.00) on shares of NetApp in a research report on Thursday, August 15th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $59.52.

Shares of NetApp stock opened at $46.09 on Monday. The stock’s 50-day simple moving average is $54.88 and its 200-day simple moving average is $63.89. NetApp has a 52 week low of $44.55 and a 52 week high of $88.08. The company has a market capitalization of $11.17 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 1.08 and a beta of 1.48. The company has a quick ratio of 1.39, a current ratio of 1.42 and a debt-to-equity ratio of 1.33.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. First Interstate Bank increased its stake in NetApp by 15.0% during the first quarter. First Interstate Bank now owns 1,130 shares of the data storage provider’s stock worth $78,000 after acquiring an additional 147 shares during the last quarter. Destination Wealth Management boosted its position in shares of NetApp by 53.3% during the first quarter. Destination Wealth Management now owns 460 shares of the data storage provider’s stock valued at $32,000 after buying an additional 160 shares during the period. Commerce Bank boosted its position in shares of NetApp by 1.3% during the first quarter. Commerce Bank now owns 13,951 shares of the data storage provider’s stock valued at $967,000 after buying an additional 183 shares during the period. Wetherby Asset Management Inc. boosted its position in shares of NetApp by 6.1% during the first quarter. Wetherby Asset Management Inc. now owns 4,032 shares of the data storage provider’s stock valued at $280,000 after buying an additional 231 shares during the period. Finally, Parallel Advisors LLC boosted its position in shares of NetApp by 83.8% during the first quarter. Parallel Advisors LLC now owns 509 shares of the data storage provider’s stock valued at $35,000 after buying an additional 232 shares during the period. 93.62% of the stock is currently owned by institutional investors.

In other news, VP Joel D. Reich sold 23,650 shares of NetApp stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $61.49, for a total value of $1,454,238.50. Following the sale, the vice president now directly owns 16,212 shares of the company’s stock, valued at $996,875.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joel D. Reich sold 30,000 shares of NetApp stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $60.59, for a total value of $1,817,700.00. Following the completion of the sale, the vice president now directly owns 55,361 shares in the company, valued at $3,354,322.99. The disclosure for this sale can be found here. Insiders sold 161,092 shares of company stock worth $9,676,120 over the last ninety days. Insiders own 0.33% of the company’s stock.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.92 annualized dividend and a dividend yield of 4.17%. NetApp’s dividend payout ratio (DPR) is 47.76%.

About NetApp

NetApp, Inc provides software, systems, and services to manage and share data 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.

Further Reading: Oversold

Earnings History and Estimates for NetApp (NASDAQ:NTAP)

Receive News & Ratings for NetApp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetApp and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Public Employees Retirement System of Ohio Has $2.94 Million Holdings in Wyndham Destinations
Public Employees Retirement System of Ohio Has $2.94 Million Holdings in Wyndham Destinations
Public Employees Retirement System of Ohio Buys Shares of 34,182 Guardant Health Inc
Public Employees Retirement System of Ohio Buys Shares of 34,182 Guardant Health Inc
Public Employees Retirement System of Ohio Grows Position in Empire State Realty Trust Inc
Public Employees Retirement System of Ohio Grows Position in Empire State Realty Trust Inc
Helmerich & Payne, Inc.  Shares Purchased by Pacer Advisors Inc.
Helmerich & Payne, Inc. Shares Purchased by Pacer Advisors Inc.
Public Employees Retirement System of Ohio Sells 1,311 Shares of Packaging Corp Of America
Public Employees Retirement System of Ohio Sells 1,311 Shares of Packaging Corp Of America
Pacer Advisors Inc. Invests $498,000 in Mueller Industries, Inc.
Pacer Advisors Inc. Invests $498,000 in Mueller Industries, Inc.


© 2006-2019 Ticker Report