NetApp (NASDAQ:NTAP) Issues FY 2020 After-Hours Earnings Guidance

Share on StockTwits

NetApp (NASDAQ:NTAP) updated its FY 2020
After-Hours earnings guidance on Wednesday. The company provided EPS guidance of 4.20-4.20 for the period, compared to the Thomson Reuters consensus EPS 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.

A number of brokerages have recently weighed in on NTAP. Cowen lowered their target price on NetApp from $60.00 to $58.00 and set a market perform rating for the company in a research note on Thursday. TheStreet lowered NetApp from a b rating to a c+ rating in a research report on Wednesday. Morgan Stanley lifted their price objective on NetApp from $47.00 to $49.00 and gave the stock an underweight rating in a research report on Friday, January 17th. BidaskClub lowered NetApp from a hold rating to a sell rating in a research report on Tuesday, February 4th. Finally, William Blair reiterated a market perform rating on shares of NetApp in a research report on Thursday, November 14th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $64.00.

Shares of NetApp stock traded down $0.94 during trading on Friday, hitting $54.24. 3,217,318 shares of the company were exchanged, compared to its average volume of 2,375,587. The firm has a market capitalization of $13.25 billion, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 1.31 and a beta of 1.58. NetApp has a 1-year low of $44.55 and a 1-year high of $78.35. The firm’s fifty day moving average price is $60.10 and its 200 day moving average price is $56.27. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.31 and a quick ratio of 1.27.

NetApp (NASDAQ:NTAP) last posted its earnings results on Wednesday, February 12th. The data storage provider reported $1.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.18 by ($0.02). The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.47 billion. NetApp had a return on equity of 95.04% and a net margin of 17.20%. NetApp’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.20 earnings per share. As a group, equities research analysts anticipate that NetApp will post 3.72 earnings per share for the current year.

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

In other news, EVP Henri P. Richard sold 2,500 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $64.20, for a total transaction of $160,500.00. Following the completion of the transaction, the executive vice president now directly owns 143,855 shares in the company, valued at approximately $9,235,491. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 stock was 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 valued at $333,743 over the last 90 days. Corporate insiders own 0.33% of the company’s stock.

About NetApp

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.

Further Reading: Relative Strength Index

Earnings History and Estimates for NetApp (NASDAQ:NTAP)

Receive News & Ratings for NetApp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetApp and related companies with's FREE daily email newsletter.