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 NetApp stock traded down $0.94 on Friday, reaching $54.24. 3,217,318 shares of the company were exchanged, compared to its average volume of 2,375,587. NetApp has a one year low of $44.55 and a one year high of $78.35. The company has a market capitalization of $13.25 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 1.31 and a beta of 1.58. 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 company has a 50-day moving average of $60.10 and a 200 day moving average of $56.27.
NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, February 12th. The data storage provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.02). NetApp had a return on equity of 95.04% and a net margin of 17.20%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the prior year, the company earned $1.20 EPS. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. Analysts predict that NetApp will post 3.72 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date is Thursday, April 2nd. NetApp’s dividend payout ratio is currently 47.76%.
A number of equities research analysts have recently issued reports on NTAP shares. Zacks Investment Research cut NetApp from a strong-buy rating to a hold rating and set a $73.00 price objective on the stock. in a research note on Tuesday, November 19th. Cowen dropped their price objective on NetApp from $60.00 to $58.00 and set a market perform rating on the stock in a research note on Thursday. Loop Capital upped their price objective on NetApp to $70.00 and gave the stock a buy rating in a research note on Thursday, November 14th. William Blair reiterated a market perform rating on shares of NetApp in a research note on Thursday, November 14th. Finally, Susquehanna Bancshares reiterated a buy rating and set a $85.00 price objective on shares of NetApp in a research note on Monday. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $64.00.
In other NetApp news, EVP Henri P. Richard sold 2,500 shares of the company’s stock in a transaction on 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 directly owns 143,855 shares of the company’s stock, valued at approximately $9,235,491. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Scott R. Allen sold 2,781 shares of the company’s stock in a transaction on 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. Insiders have sold a total of 5,284 shares of company stock worth $333,743 over the last three months. 0.33% of the stock is owned by insiders.
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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