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