Analysts expect that NetApp Inc. (NASDAQ:NTAP) will announce earnings of $0.99 per share for the current quarter, according to Zacks Investment Research. Ten analysts have made estimates for NetApp’s earnings, with the lowest EPS estimate coming in at $0.95 and the highest estimate coming in at $1.09. NetApp reported earnings of $0.81 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 22.2%. The company is expected to issue its next quarterly earnings report on Wednesday, November 21st.

According to Zacks, analysts expect that NetApp will report full year earnings of $4.42 per share for the current fiscal year, with EPS estimates ranging from $4.10 to $4.80. For the next fiscal year, analysts forecast that the business will report earnings of $4.93 per share, with EPS estimates ranging from $4.55 to $5.19. Zacks’ EPS averages are an average based on a survey of research firms that follow NetApp.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, August 15th. The data storage provider reported $1.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.24. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.42 billion. NetApp had a return on equity of 41.75% and a net margin of 3.68%. NetApp’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 earnings per share.

A number of analysts have commented on the stock. BidaskClub raised shares of NetApp from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 31st. Zacks Investment Research raised shares of NetApp from a “hold” rating to a “strong-buy” rating and set a $93.00 price target on the stock in a research report on Tuesday, August 21st. Morgan Stanley upped their price target on shares of NetApp from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, August 16th. Deutsche Bank upped their price target on shares of NetApp from $43.00 to $60.00 and gave the company a “sell” rating in a research report on Thursday, August 16th. Finally, Lake Street Capital cut their price target on shares of NetApp from $88.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, August 16th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $78.23.

NTAP traded up $0.07 during trading on Friday, reaching $85.19. 2,324,408 shares of the stock traded hands, compared to its average volume of 2,954,477. The company has a current ratio of 2.06, a quick ratio of 2.03 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $21.55 billion, a P/E ratio of 28.53, a price-to-earnings-growth ratio of 1.50 and a beta of 1.26. NetApp has a 12 month low of $39.55 and a 12 month high of $88.08.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 24th. Investors of record on Friday, October 5th will be given a $0.40 dividend. The ex-dividend date is Thursday, October 4th. This represents a $1.60 annualized dividend and a yield of 1.88%. NetApp’s payout ratio is 53.51%.

In related news, EVP Henri P. Richard sold 2,525 shares of the firm’s stock in a transaction dated Monday, June 18th. The shares were sold at an average price of $77.89, for a total value of $196,672.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO George Kurian sold 38,241 shares of the firm’s stock in a transaction dated Thursday, June 21st. The shares were sold at an average price of $78.24, for a total transaction of $2,991,975.84. Following the completion of the transaction, the chief executive officer now directly owns 142,218 shares in the company, valued at approximately $11,127,136.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 173,765 shares of company stock worth $13,974,383. 0.19% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in NTAP. Moneta Group Investment Advisors LLC lifted its position in NetApp by 441.0% in the 1st quarter. Moneta Group Investment Advisors LLC now owns 1,650 shares of the data storage provider’s stock valued at $102,000 after acquiring an additional 1,345 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its stake in NetApp by 16,433.3% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,488 shares of the data storage provider’s stock valued at $116,000 after buying an additional 1,479 shares during the last quarter. Fortis Advisors LLC purchased a new stake in NetApp in the 1st quarter valued at about $127,000. Mount Yale Investment Advisors LLC purchased a new stake in NetApp in the 1st quarter valued at about $191,000. Finally, Greenleaf Trust purchased a new stake in NetApp in the 2nd quarter valued at about $206,000. 94.35% of the stock is currently owned by institutional investors and hedge funds.

NetApp Company Profile

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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Earnings History and Estimates for NetApp (NASDAQ:NTAP)

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