Market Overview

NetApp Q3 Earnings Preview

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NetApp (NASDAQ: NTAP) announces its next round of earnings Wednesday. Here is Benzinga's everything-that-matters guide for today's Q3 earnings announcement.

Earnings and Revenue

Sell-side analysts expect NetApp's EPS to be near 91 cents per share on sales of $1.49 billion.

NetApp reported a per-share profit of 82 cents when it published results during the same quarter last year. Sales in that period totaled $1.4 billion. If the company were to report inline earnings when it publishes results Wednesday, earnings would be up 10.98 percent. Revenue would be up 6.13 percent from the year-ago period.

Here's how the company's reported EPS has stacked up against analyst estimates in the past:

 

Quarter Q2 2018 Q1 2018 Q4 2017 Q3 2017
EPS Estimate 0.69 0.55 0.82 0.74
EPS Actual 0.81 0.62 0.86 0.82

 

Q3 EPS Estimate: 91 cents per share
Q3 Revenues Estimate: $1.49 billion

Stock Performance

Over the last 52-week period, shares are up 46.34 percent. Given that these returns are generally positive, long-term shareholders should be satisfied going into this earnings release.

Analysts have adjusted their estimates higher for EPS and revenues over the past 90 days. Analysts have been rating NetApp stock as Sell. The strength of this rating has maintained conviction over the past three months.

Conference Call

Don't be surprised to see the stock move on comments made during its conference call. NetApp's Q3 conference call is scheduled to begin at 5:30 p.m. ET and can be accessed here: https://edge.media-server.com/m6/p/b8itdef8

 

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