Lazard Capital Boosts EPS Estimate for NetApp Inc. (NTAP)

Lazard Capital Boosts EPS Estimate for NetApp Inc. (NTAP)

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Lazard Capital bumped up its 2014 EPS estimate on Thursday for data management solutions provider, NetApp Inc. (NTAP).

Edward Parker, and analysts with the firm, commented, “”With the July Q guide out of the way and on the heels of a strong capital allocation announcement, the stock has a number of things going for it for the rest of the year. Bottom-line ests. could see upward pressure, principally on share repurchases and opex realignments but also from top-line growth, driven by a new product cycle and the potential for storage refresh/improving capacity demands. Concerns around weakness in OEM and federal persist, but are being de-risked from expectations.” Lazard moved its 2014 EPS estimate on the stock from $2.61 up to $2.77 to account for the massive $2 billion in buybacks.

NetApp shares were up slightly on Thursday, gaining 0.8% as the closing bell rang. The stock is up just over 12% YTD.

The Bottom Line

Shares of NetApp Inc. (NTAP) have a 1.60% yield, based on Thursday afternoon’s price of $37.64.

NetApp Inc. (NTAP) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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