Wall Street analysts expect that VMware, Inc. (NYSE:VMW) will post sales of $1.95 billion for the current quarter, according to Zacks Investment Research. Ten analysts have provided estimates for VMware’s earnings, with the highest sales estimate coming in at $1.96 billion and the lowest estimate coming in at $1.91 billion. VMware posted sales of $1.74 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 12.1%. The company is expected to issue its next earnings report on Monday, January 1st.
According to Zacks, analysts expect that VMware will report full-year sales of $1.95 billion for the current fiscal year, with estimates ranging from $7.82 billion to $8.76 billion. For the next year, analysts anticipate that the business will post sales of $9.38 billion per share, with estimates ranging from $8.73 billion to $9.74 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow VMware.
VMware (NYSE:VMW) last posted its quarterly earnings data on Thursday, March 1st. The virtualization software provider reported $1.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.06. VMware had a net margin of 7.18% and a return on equity of 19.52%. The company had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the prior year, the company posted $1.43 earnings per share. VMware’s revenue for the quarter was up 13.6% compared to the same quarter last year.
Several research firms have recently weighed in on VMW. Cowen reiterated a “buy” rating and set a $160.00 price objective (up from $150.00) on shares of VMware in a research report on Monday, January 29th. Nomura initiated coverage on shares of VMware in a research report on Tuesday, January 23rd. They set a “reduce” rating and a $108.00 price objective for the company. Royal Bank of Canada raised their price target on shares of VMware to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, January 17th. They noted that the move was a valuation call. Wells Fargo restated a “market perform” rating and issued a $125.00 price target (up from $110.00) on shares of VMware in a report on Wednesday, February 28th. Finally, Deutsche Bank raised their price target on shares of VMware from $145.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, January 29th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $131.42.
In related news, EVP Maurizio Carli sold 2,581 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $129.88, for a total transaction of $335,220.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Sanjay Poonen sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $129.71, for a total transaction of $1,297,100.00. The disclosure for this sale can be found here. 34.40% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Global Trust Asset Management LLC bought a new position in shares of VMware during the fourth quarter valued at about $138,000. Bronfman E.L. Rothschild L.P. lifted its position in shares of VMware by 1,643.8% during the third quarter. Bronfman E.L. Rothschild L.P. now owns 1,273 shares of the virtualization software provider’s stock valued at $139,000 after purchasing an additional 1,200 shares in the last quarter. Prospera Financial Services Inc bought a new position in shares of VMware during the fourth quarter valued at about $209,000. Bank of Hawaii bought a new position in shares of VMware during the fourth quarter valued at about $202,000. Finally, Wedgewood Investors Inc. PA bought a new position in shares of VMware during the fourth quarter valued at about $207,000. 22.48% of the stock is currently owned by institutional investors.
VMware (NYSE VMW) traded down $1.04 on Tuesday, hitting $124.47. 2,147,472 shares of the stock traded hands, compared to its average volume of 3,310,481. VMware has a 52 week low of $85.45 and a 52 week high of $165.00. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.86 and a current ratio of 2.86. The firm has a market capitalization of $50,371.05, a PE ratio of 92.20, a PEG ratio of 2.25 and a beta of 0.72.
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VMware, Inc is an information technology (IT) company. The Company is engaged in development and application of virtualization technologies with x86 server-based computing, separating application software from the underlying hardware. The Company offers various products, which allow organizations to manage IT resources across private clouds and multi-cloud, multi-device environments by leveraging synergies across three product categories: Software-Defined Data Center (SDDC), Hybrid Cloud Computing and End-User Computing (EUC).
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