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Equities research analysts expect NetApp, Inc. (NASDAQ:NTAP Get Rating) to post $1.69 billion in sales for the current fiscal quarter, according to Zacks. Nine analysts have provided estimates for NetApps earnings. The highest sales estimate is $1.71 billion and the lowest is $1.68 billion. NetApp reported sales of $1.56 billion during the same quarter last year, which indicates a positive year over year growth rate of 8.3%. The company is expected to announce its next earnings results on Monday, January 1st.

On average, analysts expect that NetApp will report full-year sales of $6.33 billion for the current year, with estimates ranging from $6.32 billion to $6.35 billion. For the next fiscal year, analysts forecast that the firm will report sales of $6.78 billion, with estimates ranging from $6.60 billion to $6.91 billion. Zacks Investment Researchs sales averages are a mean average based on a survey of sell-side research firms that cover NetApp.

NetApp (NASDAQ:NTAP Get Rating) last issued its quarterly earnings data on Wednesday, February 23rd. The data storage provider reported $1.20 EPS for the quarter, beating the Zacks consensus estimate of $1.07 by $0.13. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.61 billion. NetApp had a return on equity of 126.47% and a net margin of 16.34%. The firms revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 EPS.

In related news, CEO George Kurian sold 4,250 shares of the firms stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of $90.39, for a total transaction of $384,157.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Cesar Cernuda sold 14,000 shares of NetApp stock in a transaction on Tuesday, March 15th. The shares were sold at an average price of $80.79, for a total value of $1,131,060.00. The disclosure for this sale can be found here. Insiders have sold a total of 26,750 shares of company stock valued at $2,217,998 over the last ninety days. Insiders own 0.28% of the companys stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Assetmark Inc. increased its stake in shares of NetApp by 150.4% in the 3rd quarter. Assetmark Inc. now owns 288 shares of the data storage providers stock valued at $26,000 after buying an additional 173 shares during the period. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. boosted its position in shares of NetApp by 57.9% in the 3rd quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 300 shares of the data storage providers stock worth $27,000 after purchasing an additional 110 shares during the last quarter. North Star Investment Management Corp. boosted its position in shares of NetApp by 200.0% in the 4th quarter. North Star Investment Management Corp. now owns 300 shares of the data storage providers stock worth $28,000 after purchasing an additional 200 shares during the last quarter. Cyrus J. Lawrence LLC bought a new position in shares of NetApp in the 1st quarter worth $28,000. Finally, Benjamin Edwards Inc. bought a new position in shares of NetApp in the 4th quarter worth $32,000. 92.14% of the stock is owned by institutional investors.

Shares of NASDAQ NTAP opened at $75.00 on Friday. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.51 and a current ratio of 1.55. The firm has a market cap of $16.69 billion, a price-to-earnings ratio of 16.97, a P/E/G ratio of 2.08 and a beta of 1.23. The businesss 50-day simple moving average is $81.40 and its 200-day simple moving average is $87.05. NetApp has a 52 week low of $72.04 and a 52 week high of $96.82.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 27th. Investors of record on Friday, April 8th were issued a dividend of $0.50 per share. The ex-dividend date was Thursday, April 7th. This represents a $2.00 dividend on an annualized basis and a yield of 2.67%. NetApps dividend payout ratio is 45.25%.

NetApp Company Profile (Get Rating)

NetApp, Inc provides software, systems, and cloud services to manage and share data on-premises, and private and public clouds worldwide. The company offers cloud storage services, including NetApp Cloud Volumes; cloud control solutions, such as NetApp Cloud Manager and NetApp Virtual Desktop Service; cloud services and analytics comprising NetApp Cloud Insights, NetApp Cloud Sync, NetApp Cloud Compliance, NetApp Cloud Tiering, NetApp SaaS Backup, NetApp Cloud Backup, and NetApp Global File Cache; and Cloud Optimization solutions, such as Spot by NetApp, Spot Cloud Analyzer by NetApp, Spot Eco by NetApp, Spot Ocean by NetApp, Spot Wave by NetApp, Spot Elastigroup by NetApp, and NetApp Virtual Desktop Managed Service.

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NetApp, Inc. (NASDAQ:NTAP) Expected to Announce Quarterly Sales of $1.69 Billion - Defense World