NetApp (NTAP) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

NetApp (NASDAQ:NTAP) released its quarterly earnings data on Wednesday. The data storage provider reported $0.99 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.08, Bloomberg Earnings reports. NetApp had a return on equity of 26.77% and a net margin of 11.49%. During the same period in the prior year, the company earned $0.82 earnings per share. NetApp updated its Q4 guidance to $0.95-1.03 EPS.

Shares of NetApp (NASDAQ NTAP) traded up $1.90 during trading hours on Thursday, hitting $60.64. The stock had a trading volume of 5,798,500 shares, compared to its average volume of 2,868,941. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.67 and a quick ratio of 1.64. NetApp has a one year low of $37.43 and a one year high of $64.06. The firm has a market capitalization of $15,671.35, a price-to-earnings ratio of 26.03, a price-to-earnings-growth ratio of 1.82 and a beta of 1.33.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders 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 dividend yield of 1.32%. NetApp’s payout ratio is 34.33%.

NTAP has been the topic of several analyst reports. Maxim Group reiterated a “buy” rating and issued a $56.00 target price on shares of NetApp in a report on Friday, October 27th. Barclays upgraded NetApp from an “underweight” rating to an “overweight” rating and upped their target price for the company from $38.00 to $52.00 in a report on Thursday, November 9th. Royal Bank of Canada upped their target price on NetApp from $45.00 to $50.00 and gave the company a “sector perform” rating in a report on Monday, November 13th. Piper Jaffray Companies set a $52.00 target price on NetApp and gave the company a “buy” rating in a report on Tuesday, November 14th. Finally, DA Davidson upped their target price on NetApp from $53.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $54.52.

In other news, Director George T. Shaheen sold 36,916 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $53.10, for a total transaction of $1,960,239.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO George Kurian sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $52.50, for a total value of $3,937,500.00. The disclosure for this sale can be found here. Insiders have sold 176,629 shares of company stock worth $9,568,956 over the last ninety days. 0.47% of the stock is owned by insiders.

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NetApp Company Profile

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 for NetApp (NASDAQ:NTAP)

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