NetApp will post a profit on June 2nd
NetApp, Inc. (NASDAQ: NTAP) is an American company for hybrid cloud data services and data management. NetApp provides systems, software, and cloud services that enable users to get the most out of their applications from data center to cloud, whether they are evolving in the cloud, moving to the cloud, or creating their own cloud-like experiences on-premise.
On May 27, NetApp announced that it will be participating in virtual fireside chats at the Cowen TMT Conference, Evercore TMT Conference, Bank of America Tech Conference, and NASDAQ Investor Conference. These conferences will take place on June 3rd, 8th, 10th and 17th.
NTAP is expected to announce its fourth quarter results on Wednesday June 2nd. So far, NetApp has managed to beat Wall Street earnings expectations on all four most recently released earnings reports.
For the second quarter of fiscal 2020, NetApp beat analysts’ estimates by a margin of $ 0.15 and reported earnings per share (EPS) of $ 1.19. For the third quarter of fiscal 2021, NetApp earnings per share declined to $ 0.73 but beat expectations with a margin of $ 0.32. For the fourth quarter of fiscal 2021, NTAP posted earnings up to $ 1.05 per share, beating estimates by $ 0.32. For the first quarter of fiscal 2021, NetApp reported earnings per share of $ 1.10, beating expectations with a margin of $ 0.09.
NetApp stock has risen roughly 77% over the past 12 months, nearly doubling since its June 2020 low of $ 39.96. Additionally, NetApp stock is up about 22% year-to-date, hitting a two-year high of $ 80.66 just yesterday. NetApp also has a forward dividend of $ 1.92 and a dividend yield of 2.42%.
Additionally, NetApp stock trades at a relatively high price-to-earnings-ratio of 29.93, making it difficult to argue that NTAP is currently more than a risky dividend game. However, NetApp stock also has a price-to-earnings-ratio of 17.27, which suggests that analysts expect the company to see significant earnings growth in the coming quarters, beginning with the report released on Wednesday . Whether that happens or not remains to be seen.