7 Earnings Reports to Watch Next Week
4. NetApp (NTAP) provides data storage and management solutions. The company will announce its second quarter fiscal 2012 results on Nov. 16.
Net income for the second quarter of fiscal year 2012 is estimated at $233.61 million on sales of $1.54 billion, vs. $202.7 million recorded on $1.2 billion sales for the same period in 2010, as per analysts polled by Bloomberg. Earnings per share are forecast at 59 cents for the quarter, up 14% from 52 cents in the year-ago quarter. Operating profit is seen rising 43% to $282.96 million. Return on equity and assets are seen expanding by 227 and 205 basis points to 23.67% and 10.93% respectively. Cash flow per share is forecasted more than double to $2.43.
Of the 39 analysts covering the stock, 62% recommend a buy and the rest suggest a hold. There are no sell ratings on the stock. Analysts polled by Bloomberg expect the stock to gain almost 17.8% to $49.35 from current levels over the next 12 months.
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