NetApp (NASDAQ:NTAP) issued an update on its fourth quarter 2020
After-Hours earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.28-1.36 for the period, compared to the Thomson Reuters consensus estimate of $1.39. The company issued revenue guidance of $1.455-1.605 billion, compared to the consensus revenue estimate of $1.57 billion.NetApp also updated its FY 2020
After-Hours guidance to 4.20-4.20 EPS.
NetApp stock traded down $0.94 during mid-day trading on Friday, reaching $54.24. The stock had a trading volume of 3,217,318 shares, compared to its average volume of 2,375,587. The company has a debt-to-equity ratio of 2.14, a quick ratio of 1.27 and a current ratio of 1.31. NetApp has a fifty-two week low of $44.55 and a fifty-two week high of $78.35. The stock’s 50-day simple moving average is $60.10 and its 200-day simple moving average is $56.27. The firm has a market capitalization of $13.25 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.31 and a beta of 1.58.
NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, February 12th. The data storage provider reported $1.16 EPS for the quarter, missing the Zacks’ consensus estimate of $1.18 by ($0.02). NetApp had a net margin of 17.20% and a return on equity of 95.04%. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period last year, the business posted $1.20 EPS. The company’s revenue was down 10.2% on a year-over-year basis. On average, research analysts forecast that NetApp will post 3.72 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd will be paid a $0.48 dividend. The ex-dividend date is Thursday, April 2nd. This represents a $1.92 dividend on an annualized basis and a yield of 3.54%. NetApp’s dividend payout ratio (DPR) is presently 47.76%.
A number of equities research analysts have commented on NTAP shares. Wells Fargo & Co reduced their price objective on NetApp from $60.00 to $55.00 and set an equal weight rating for the company in a research note on Thursday. Credit Suisse Group reduced their price objective on NetApp from $70.00 to $68.00 and set an outperform rating for the company in a research note on Thursday. Cowen reduced their price objective on NetApp from $60.00 to $58.00 and set a market perform rating for the company in a research note on Thursday. Morgan Stanley raised their price objective on NetApp from $47.00 to $49.00 and gave the company an underweight rating in a research note on Friday, January 17th. Finally, Argus raised their price objective on NetApp from $66.00 to $75.00 and gave the company a buy rating in a research note on Friday, November 15th. 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 company. NetApp presently has an average rating of Hold and a consensus target price of $64.00.
In other news, CAO Scott R. Allen sold 2,781 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $62.23, for a total value of $173,061.63. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Henri P. Richard sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $64.20, for a total value of $160,500.00. Following the completion of the transaction, the executive vice president now owns 143,855 shares in the company, valued at approximately $9,235,491. The disclosure for this sale can be found here. Insiders sold 5,284 shares of company stock worth $333,743 in the last 90 days. Corporate 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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