NetApp, Inc. (NTAP) To Go Ex-Dividend on January 2nd

NetApp, Inc. (NASDAQ:NTAP) announced a quarterly dividend on Tuesday, November 25th. Investors of record on Friday, January 2nd will be given a dividend of 0.52 per share by the data storage provider on Wednesday, January 21st. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, January 2nd.

NetApp has raised its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. NetApp has a dividend payout ratio of 24.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect NetApp to earn $6.43 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 32.3%.

NetApp Trading Down 0.8%

Shares of NASDAQ NTAP traded down $0.82 during trading on Wednesday, hitting $107.61. 107,370 shares of the company were exchanged, compared to its average volume of 2,030,195. The company has a fifty day moving average price of $112.67 and a 200-day moving average price of $112.29. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.30 and a current ratio of 1.34. The firm has a market capitalization of $21.31 billion, a PE ratio of 18.72, a P/E/G ratio of 2.42 and a beta of 1.42. NetApp has a 12-month low of $71.84 and a 12-month high of $127.78.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Tuesday, November 25th. The data storage provider reported $2.05 EPS for the quarter, beating the consensus estimate of $1.88 by $0.17. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.87 EPS. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS and its Q3 2026 guidance at 2.010-2.110 EPS. As a group, equities research analysts expect that NetApp will post 5.89 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on NTAP shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of NetApp in a report on Wednesday, October 8th. Bank of America increased their target price on shares of NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. Citigroup dropped their price target on shares of NetApp from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. UBS Group boosted their price target on shares of NetApp from $114.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. Finally, Northland Capmk upgraded shares of NetApp from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 26th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $124.07.

NetApp Company Profile

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.