Brokerages forecast that NetApp Inc. (NASDAQ:NTAP) will post $0.99 earnings per share for the current quarter, Zacks reports. 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 indicates a positive year-over-year growth rate of 22.2%. The company is scheduled to report 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 year, with EPS estimates ranging from $4.10 to $4.80. For the next fiscal year, analysts forecast that the company will post earnings of $4.93 per share, with EPS estimates ranging from $4.55 to $5.27. Zacks’ EPS averages are an average based on a survey of sell-side research firms that that provide coverage for NetApp.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, August 15th. The data storage provider reported $1.04 EPS for the quarter, topping the Zacks’ 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 company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the prior year, the firm earned $0.62 EPS. NetApp’s quarterly revenue was up 11.6% on a year-over-year basis.

A number of brokerages recently issued reports on NTAP. Goldman Sachs Group upgraded shares of NetApp from a “neutral” rating to a “conviction-buy” rating and set a $91.00 price target for the company in a research note on Wednesday, October 17th. Zacks Investment Research upgraded 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. Maxim Group lifted their target price on NetApp from $81.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, August 16th. Royal Bank of Canada boosted their price target on NetApp from $80.00 to $85.00 and gave the company a “sector perform” rating in a research note on Friday, August 10th. Finally, Deutsche Bank upped their target price on NetApp from $43.00 to $60.00 and gave the stock a “sell” rating in a research report on Thursday, August 16th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. NetApp presently has a consensus rating of “Buy” and an average target price of $81.17.

In other NetApp news, CEO George Kurian sold 36,646 shares of the business’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $81.69, for a total transaction of $2,993,611.74. Following the completion of the sale, the chief executive officer now directly owns 64,147 shares in the company, valued at approximately $5,240,168.43. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Joel D. Reich sold 7,157 shares of the company’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $86.83, for a total value of $621,442.31. Following the completion of the sale, the vice president now owns 603 shares of the company’s stock, valued at $52,358.49. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,451 shares of company stock valued at $10,579,434. 0.19% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the stock. CENTRAL TRUST Co raised its position in shares of NetApp by 589.7% during the 3rd quarter. CENTRAL TRUST Co now owns 1,276 shares of the data storage provider’s stock valued at $110,000 after buying an additional 1,091 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of NetApp by 16,433.3% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,488 shares of the data storage provider’s stock valued at $116,000 after purchasing an additional 1,479 shares in the last quarter. Cerebellum GP LLC acquired a new stake in NetApp in the third quarter valued at approximately $182,000. Checchi Capital Advisers LLC acquired a new stake in NetApp in the third quarter valued at approximately $201,000. Finally, Greenleaf Trust acquired a new stake in NetApp in the second quarter valued at approximately $206,000. 95.52% of the stock is owned by institutional investors.

Shares of NTAP traded down $1.18 during mid-day trading on Monday, hitting $81.66. The company had a trading volume of 2,957,926 shares, compared to its average volume of 2,835,581. NetApp has a 1-year low of $45.24 and a 1-year 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 stock has a market capitalization of $21.47 billion, a PE ratio of 24.29, a P/E/G ratio of 1.50 and a beta of 1.38.

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 24th. Stockholders of record on Friday, October 5th were given a $0.40 dividend. 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%.

About NetApp

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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