Is it time to Buy before this week’s earning report NetApp (NASDAQ:NTAP)

Earnings results for NetApp (NASDAQ:NTAP)

NetApp, Inc. is expected* to report earnings on 06/02/2021 after market close. The report will be for the fiscal Quarter ending Apr 2021. According to Zacks Investment Research, based on 8 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.95. The reported EPS for the same quarter last year was $1.03.

NetApp last posted its quarterly earnings data on February 24th, 2021. The data storage provider reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.09. The company earned $1.47 billion during the quarter, compared to analyst estimates of $1.43 billion. NetApp has generated $3.53 earnings per share over the last year and currently has a price-to-earnings ratio of 29.1. NetApp has confirmed that its next quarterly earnings report will be published on Wednesday, June 2nd, 2021.

Analyst Opinion on NetApp (NASDAQ:NTAP)

23 Wall Street analysts have issued ratings and price targets for NetApp in the last 12 months. Their average twelve-month price target is $65.17, predicting that the stock has a possible downside of 15.05%. The high price target for NTAP is $92.00 and the low price target for NTAP is $39.00. There are currently 1 sell rating, 11 hold ratings and 11 buy ratings for the stock, resulting in a consensus rating of “Hold.”

NetApp has received a consensus rating of Hold. The company’s average rating score is 2.43, and is based on 11 buy ratings, 11 hold ratings, and 1 sell rating. According to analysts’ consensus price target of $65.17, NetApp has a forecasted downside of 15.0% from its current price of $76.71. NetApp has only been the subject of 2 research reports in the past 90 days.

Dividend Strength: NetApp (NASDAQ:NTAP)

NetApp pays a meaningful dividend of 2.48%, higher than the bottom 25% of all stocks that pay dividends. NetApp does not have a long track record of dividend growth. The dividend payout ratio of NetApp is 54.39%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, NetApp will have a dividend payout ratio of 50.53% next year. This indicates that NetApp will be able to sustain or increase its dividend.

Insiders buying/selling: NetApp (NASDAQ:NTAP)

In the past three months, NetApp insiders have not sold or bought any company stock. Only 0.36% of the stock of NetApp is held by insiders. 90.84% of the stock of NetApp is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of NetApp (NASDAQ:NTAP

Earnings for NetApp are expected to grow by 15.85% in the coming year, from $3.28 to $3.80 per share. The P/E ratio of NetApp is 29.06, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 22.68. The P/E ratio of NetApp is 29.06, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 48.03. NetApp has a PEG Ratio of 2.31. PEG Ratios above 1 indicate that a company could be overvalued. NetApp has a P/B Ratio of 70.38. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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