NetApp, Inc. (NASDAQ:NTAP) share price jumped at US$ 41.05 before falling back to end the trade at US$ 40.95 a share. The dividend stock is -2.92% off a 52-week high stock price of US$ 42.18 but is up 85.36% since hitting the US$ 22.5. Investors are buying the stock with a trailing-twelve-month price-to-earnings (P/E) ratio of 37.13.
After a 0.02% rise from previous close of US$ 40.94, NetApp, Inc. (NTAP) has a US$ 11.27 Billion market cap. The company pays a US$ 0.19-cent-per-share quarterly dividend, giving it a 1.86% yield. That brings its full year payout to US$ 0.76 and 65.7% annual payout ratio based on EPS. According to FT, Year on year, growth in dividends per share increased 9.30% while earnings per share excluding extraordinary items fell by -55.94%. The positive trend in dividend payments is noteworthy since very few companies in the Computer Storage Devices industry pay a dividend. Additionally, five year annualized earnings per share growth is in-line with the industry average relative to its peers.
The NTAP has soared 16.73% year-to-date. The equity has gained steam in recent weeks, with shares up about 12.12% in the past three months. It added 0.96%, climbed 7.91% and jumped 18.88% in the week, one month and six months, respectively. Revenue growth rate was recorded at 1.6% and net income per share was seen moving at a -14.7% rate in the past five years.
NetApp, Inc. (NASDAQ:NTAP) is over -1% above analysts’ consensus price target of US$ 41.38. The stock has blown through analysts’ low price target of US$ 27, but is still below the high US$ 62 target. On a price appreciation basis over the past 12 months, the stock returned 70.48%.
Financial Times data shows, In 2016, NetApp Inc reported a dividend of 0.71 USD, which represents a 9.30% increase over last year. The 12 analysts covering the company expect dividends of 0.76 USD for the upcoming fiscal year, an increase of 7.80%. The most recent short interest data show 4.43% of the company’s stock are short sold. It would take about 4.14 days to cover all short positions. In terms of volatility, it has a beta coefficient of 1.45 and technical analysis volatility indicator called Average True Range or ATR around 0.81.
NetApp, Inc. (NASDAQ:NTAP) closed 28.61% above its 200-day moving average which many technicians use as a guide to the long-term trend, so stocks above the line are considered to be in longer-term uptrends, while those below it are considered to be in downtrends. The stock is 9.98% above another chart threshold, its 50-day moving average and 4.71% above its 20-day simple moving average.
Dividend Stock Buzz: NetApp, Inc. (NTAP)
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