NetApp (NTAP) Issues Q4 Earnings Guidance

NetApp (NASDAQ:NTAP) updated its fourth quarter earnings guidance on Wednesday. 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.

A number of equities research analysts have weighed in on the company. Morgan Stanley upgraded NetApp from an underweight rating to an equal weight rating and lifted their target price for the stock from $41.00 to $64.00 in a report on Tuesday, January 23rd. DA Davidson downgraded NetApp from a buy rating to a neutral rating and lifted their target price for the stock from $56.00 to $64.00 in a report on Tuesday, January 23rd. UBS Group lifted their target price on NetApp from $62.00 to $71.00 and gave the stock a buy rating in a report on Friday, January 26th. ValuEngine upgraded NetApp from a hold rating to a buy rating in a report on Friday, February 2nd. Finally, Zacks Investment Research downgraded NetApp from a buy rating to a hold rating in a report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $53.85.

Shares of NetApp (NASDAQ NTAP) traded up $1.90 during trading hours on Wednesday, hitting $60.64. The company had a trading volume of 5,641,755 shares, compared to its average volume of 2,921,434. The stock has a market capitalization of $16,170.00, a PE ratio of 26.01, a price-to-earnings-growth ratio of 1.84 and a beta of 1.33. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.64 and a current ratio of 1.67. NetApp has a one year low of $37.43 and a one year high of $64.06.

NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.12. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.38 billion. NetApp had a return on equity of 26.77% and a net margin of 11.49%. NetApp’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 earnings per share. analysts anticipate that NetApp will post 2.76 earnings per share for the current year.

The business also recently announced 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 annualized dividend and a dividend yield of 1.32%. NetApp’s payout ratio is 34.33%.

In related news, CEO George Kurian sold 75,000 shares of NetApp stock in a transaction on Monday, November 20th. The stock was sold at an average price of $52.50, for a total transaction of $3,937,500.00. The sale was disclosed in a document filed with the SEC, which is available 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. In the last ninety days, insiders have sold 176,629 shares of company stock worth $9,568,956. 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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