NetApp, Inc. Announces Quarterly Dividend of $0.52 (NASDAQ:NTAP)

NetApp, Inc. (NASDAQ:NTAP) announced a quarterly dividend on Wednesday, September 2nd. Stockholders of record on Friday, October 9th will be given a dividend of 0.52 per share by the data storage provider on Wednesday, October 28th. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, October 9th.

NetApp has increased its dividend by an average of 0.0%annually 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% meaning its dividend is sufficiently covered by earnings. Research analysts expect NetApp to earn $8.21 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 25.3%.

NetApp Price Performance

NTAP stock opened at $180.77 on Thursday. The company has a market capitalization of $35.47 billion, a P/E ratio of 28.42, a PEG ratio of 2.49 and a beta of 1.44. The company has a fifty day moving average price of $177.45 and a 200-day moving average price of $139.96. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.39 and a current ratio of 1.44. NetApp has a 52-week low of $93.69 and a 52-week high of $209.06.

NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.46. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.84 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.NetApp’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period last year, the company earned $1.15 EPS. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. As a group, equities analysts expect that NetApp will post 7.34 EPS for the current year.

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.