NetApp, Inc. (NTAP) To Go Ex-Dividend on October 5th
NetApp, Inc. (NASDAQ:NTAP) announced a quarterly dividend on Wednesday, August 16th, RTT News reports. Shareholders of record on Friday, October 6th will be paid a dividend of 0.20 per share by the data storage provider on Wednesday, October 25th. This represents a $0.80 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Thursday, October 5th.
NetApp (NASDAQ:NTAP) opened at 44.39 on Wednesday. The firm has a market capitalization of $11.97 billion, a price-to-earnings ratio of 21.43 and a beta of 1.26. The company has a 50 day moving average price of $40.55 and a 200 day moving average price of $40.68. NetApp has a 12 month low of $30.36 and a 12 month high of $45.24.
NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.07. NetApp had a net margin of 10.47% and a return on equity of 24.13%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the firm earned $0.46 earnings per share. NetApp’s quarterly revenue was up 2.4% on a year-over-year basis. Analysts anticipate that NetApp will post $3.13 earnings per share for the current fiscal year.
In other news, CEO George Kurian sold 4,000 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $43.67, for a total transaction of $174,680.00. Following the completion of the transaction, the chief executive officer now owns 27,598 shares in the company, valued at approximately $1,205,204.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Henri P. Richard sold 3,952 shares of the stock in a transaction on Friday, July 14th. The stock was sold at an average price of $42.20, for a total value of $166,774.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,450 shares of company stock worth $2,250,560. Corporate insiders own 0.47% of the company’s stock.
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NTAP has been the subject of several research analyst reports. Robert W. Baird reissued a “hold” rating on shares of NetApp in a research report on Wednesday. BidaskClub raised NetApp from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. DA Davidson restated a “buy” rating and set a $51.00 target price on shares of NetApp in a research report on Monday. Credit Suisse Group upped their target price on NetApp from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, August 9th. Finally, Morgan Stanley reaffirmed an “underweight” rating on shares of NetApp in a research note on Saturday, September 23rd. Two equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and thirteen have given a buy rating to the company’s stock. NetApp currently has an average rating of “Hold” and a consensus target price of $44.85.
NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.
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