Brokerages expect that VMware, Inc. (NYSE:VMW) will post sales of $2.15 billion for the current quarter, according to Zacks. Ten analysts have made estimates for VMware’s earnings, with estimates ranging from $2.14 billion to $2.16 billion. VMware posted sales of $1.90 billion during the same quarter last year, which suggests a positive year over year growth rate of 13.2%. The business is expected to issue its next quarterly earnings results on Thursday, August 23rd.
On average, analysts expect that VMware will report full-year sales of $8.79 billion for the current year, with estimates ranging from $8.78 billion to $8.84 billion. For the next financial year, analysts forecast that the business will post sales of $9.51 billion per share, with estimates ranging from $9.28 billion to $9.75 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow VMware.
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VMware (NYSE:VMW) last released its earnings results on Thursday, May 31st. The virtualization software provider reported $1.26 EPS for the quarter, topping the consensus estimate of $1.15 by $0.11. VMware had a return on equity of 19.58% and a net margin of 15.61%. The business had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter last year, the firm posted $0.99 earnings per share. The firm’s revenue was up 13.8% on a year-over-year basis.
VMW has been the subject of several recent analyst reports. Wells Fargo & Co reaffirmed a “market perform” rating and set a $125.00 target price (up previously from $110.00) on shares of VMware in a research note on Wednesday, February 28th. ValuEngine raised VMware from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Jefferies Financial Group reaffirmed a “buy” rating and set a $171.00 target price on shares of VMware in a research note on Thursday, March 1st. Robert W. Baird reaffirmed an “outperform” rating and set a $140.00 target price (up previously from $135.00) on shares of VMware in a research note on Friday, March 2nd. Finally, Stifel Nicolaus cut VMware from a “buy” rating to a “hold” rating and reduced their price objective for the company from $152.00 to $135.00 in a research note on Friday, March 2nd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nineteen have issued a buy rating to the stock. VMware has a consensus rating of “Buy” and a consensus target price of $139.54.
VMware opened at $150.01 on Friday, according to Marketbeat.com. VMware has a one year low of $85.70 and a one year high of $165.00. The company has a market cap of $61.86 billion, a P/E ratio of 38.86, a price-to-earnings-growth ratio of 2.64 and a beta of 0.75. The company has a quick ratio of 3.04, a current ratio of 3.04 and a debt-to-equity ratio of 0.44.
In related news, COO Rajiv Ramaswami sold 10,000 shares of VMware stock in a transaction that occurred on Wednesday, May 2nd. The stock was sold at an average price of $132.85, for a total transaction of $1,328,500.00. Following the transaction, the chief operating officer now owns 307,763 shares of the company’s stock, valued at $40,886,314.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 29.90% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. Point72 Asia Hong Kong Ltd bought a new stake in VMware during the first quarter worth $106,000. Perigon Wealth Management LLC bought a new stake in VMware during the first quarter worth $121,000. Mckinley Capital Management LLC Delaware bought a new stake in VMware during the first quarter worth $127,000. W.G. Shaheen & Associates DBA Whitney & Co bought a new stake in VMware during the first quarter worth $167,000. Finally, Bank of Hawaii bought a new stake in VMware during the fourth quarter worth $202,000. Institutional investors and hedge funds own 20.15% of the company’s stock.
VMware Company Profile
VMware, Inc provides compute, cloud, mobility, networking, and security infrastructure software to businesses in the United States and internationally. The company offers compute products, including VMware vSphere, a data center platform, which enables users to deploy hypervisor, a layer of software that resides between the operating system and system hardware to enable compute virtualization; storage and availability products that provide data storage and protection options; network and security products; and cloud management and automation products to manage and automate overarching IT processes involved in provisioning IT services and resources to users from initial infrastructure deployment to retirement.
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