NetApp (NASDAQ:NTAP) issued its earnings results on Wednesday. The data storage provider reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.19, RTT News reports. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.23 billion. NetApp had a return on equity of 71.66% and a net margin of 19.02%. The company’s revenue was down 16.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.04 earnings per share.
Shares of NetApp stock opened at $44.71 on Thursday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.42 and a current ratio of 1.45. NetApp has a 52-week low of $44.55 and a 52-week high of $88.08. The company has a 50 day moving average price of $56.69. The firm has a market cap of $11.02 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 0.94 and a beta of 1.48.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Friday, October 4th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 4.29%. NetApp’s dividend payout ratio is presently 47.76%.
In related news, CFO Ronald J. Pasek sold 58,052 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $58.49, for a total value of $3,395,461.48. Following the completion of the sale, the chief financial officer now directly owns 122,806 shares in the company, valued at approximately $7,182,922.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Joel D. Reich sold 30,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $60.59, for a total value of $1,817,700.00. Following the completion of the sale, the vice president now owns 55,361 shares of the company’s stock, valued at $3,354,322.99. The disclosure for this sale can be found here. Insiders have sold a total of 161,092 shares of company stock valued at $9,676,120 over the last quarter. 0.33% of the stock is currently owned by corporate insiders.
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.
Read More: How to Trade Using Analysts Ratings
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 MarketBeat.com's FREE daily email newsletter.