NetApp (NASDAQ:NTAP) issued an update on its FY 2020
After-Hours earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 4.20-4.20 for the period, compared to the Thomson Reuters consensus estimate of $4.30. The company issued revenue guidance of $5.531-5.531 billion, compared to the consensus revenue estimate of $5.64 billion.NetApp also updated its Q4 guidance to $1.28-1.36 EPS.

Shares of NASDAQ NTAP traded down $0.94 during midday trading on Friday, hitting $54.24. 3,217,318 shares of the company’s stock were exchanged, compared to its average volume of 2,375,587. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 2.14. The business’s fifty day moving average price is $60.10 and its two-hundred day moving average price is $56.27. The company has a market cap of $13.25 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 1.31 and a beta of 1.58. NetApp has a 12-month low of $44.55 and a 12-month high of $78.35.

NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, February 12th. The data storage provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.02). NetApp had a net margin of 17.20% and a return on equity of 95.04%. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the prior year, the business earned $1.20 earnings per share. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. Equities analysts expect that NetApp will post 3.72 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend is Thursday, April 2nd. NetApp’s payout ratio is 47.76%.

Several research firms have recently weighed in on NTAP. Susquehanna Bancshares restated a buy rating and set a $85.00 price objective on shares of NetApp in a research report on Monday. Credit Suisse Group cut their target price on shares of NetApp from $70.00 to $68.00 and set an outperform rating for the company in a research report on Thursday. TheStreet cut NetApp from a b rating to a c+ rating in a research note on Wednesday. Loop Capital raised their price target on NetApp to $70.00 and gave the company a buy rating in a research report on Thursday, November 14th. Finally, Oppenheimer reaffirmed a hold rating on shares of NetApp in a research note on Wednesday. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $64.00.

In other news, EVP Henri P. Richard sold 2,500 shares of NetApp stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $64.20, for a total value of $160,500.00. Following the transaction, the executive vice president now owns 143,855 shares in the company, valued at $9,235,491. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Scott R. Allen sold 2,781 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $62.23, for a total value of $173,061.63. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,284 shares of company stock valued at $333,743. Company insiders own 0.33% of the company’s stock.

NetApp Company Profile

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.

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Earnings History and Estimates for NetApp (NASDAQ:NTAP)

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