NetApp (NASDAQ:NTAP) issued an update on its fourth quarter 2019 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.22-1.28 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.25. The company issued revenue guidance of $1.59-1.69 billion, compared to the consensus revenue estimate of $1.7 billion.
NTAP traded up $0.21 during midday trading on Wednesday, hitting $67.35. The stock had a trading volume of 4,435,426 shares, compared to its average volume of 2,668,347. The firm has a market cap of $16.89 billion, a P/E ratio of 22.53, a P/E/G ratio of 1.16 and a beta of 1.34. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.65 and a quick ratio of 1.63. NetApp has a 1 year low of $52.00 and a 1 year high of $88.08.
NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, November 14th. The data storage provider reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.07. The business had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.51 billion. NetApp had a return on equity of 51.50% and a net margin of 4.70%. NetApp’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.81 earnings per share. On average, equities analysts anticipate that NetApp will post 4.01 earnings per share for the current year.
In related news, CEO George Kurian sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 20th. The stock was sold at an average price of $66.66, for a total transaction of $666,600.00. Following the completion of the transaction, the chief executive officer now owns 10,244 shares in the company, valued at $682,865.04. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Henri P. Richard sold 2,525 shares of the company’s stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $69.55, for a total value of $175,613.75. The disclosure for this sale can be found here. Insiders sold 17,575 shares of company stock valued at $1,175,564 in the last quarter. Corporate insiders own 0.19% of the company’s stock.
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NetApp Company Profile
NetApp, Inc provides software, systems, and services to manage and share date 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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