NetApp (NASDAQ:NTAP) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.95-1.03 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.00. The company issued revenue guidance of $1.525-1.675 billion, compared to the consensus revenue estimate of $1.57 billion.

NetApp (NTAP) traded up $1.90 during trading on Thursday, reaching $60.64. 5,798,500 shares of the company’s stock traded hands, compared to its average volume of 2,880,918. NetApp has a 1-year low of $37.43 and a 1-year high of $64.06. The company has a market capitalization of $15,671.35, a P/E ratio of 26.03, a PEG ratio of 1.82 and a beta of 1.33. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.67 and a quick ratio of 1.64.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, February 14th. The data storage provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.08. NetApp had a net margin of 11.49% and a return on equity of 26.77%. During the same period in the previous year, the business earned $0.82 EPS. analysts predict that NetApp will post 2.84 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Friday, April 6th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.32%. NetApp’s payout ratio is 34.33%.

A number of equities analysts have issued reports on NTAP shares. Zacks Investment Research upgraded shares of NetApp from a hold rating to a buy rating and set a $64.00 price objective on the stock in a research report on Tuesday, February 6th. ValuEngine upgraded shares of NetApp from a hold rating to a buy rating in a research report on Thursday, November 16th. DA Davidson cut shares of NetApp from a buy rating to a neutral rating and boosted their price objective for the company from $56.00 to $64.00 in a research report on Tuesday, January 23rd. BMO Capital Markets upgraded shares of NetApp from a market perform rating to an outperform rating and boosted their price target for the company from $43.00 to $62.00 in a research report on Thursday, November 16th. Finally, Loop Capital upgraded shares of NetApp from a hold rating to a buy rating and set a $50.00 price target on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $55.37.

In other news, VP Joel D. Reich sold 3,371 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $53.17, for a total value of $179,236.07. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Henri P. Richard sold 1,976 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $55.91, for a total transaction of $110,478.16. Following the completion of the transaction, the executive vice president now owns 11,884 shares in the company, valued at approximately $664,434.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 176,629 shares of company stock worth $9,568,956. Corporate insiders own 0.47% of the company’s stock.

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NetApp Company Profile

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.

Earnings History and Estimates for NetApp (NASDAQ:NTAP)

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