Brokerages expect that VMware, Inc. (NYSE:VMW) will announce sales of $2.43 billion for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for VMware’s earnings. The lowest sales estimate is $2.42 billion and the highest is $2.43 billion. VMware posted sales of $2.17 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 12%. The business is scheduled to report its next earnings results on Thursday, August 22nd.
According to Zacks, analysts expect that VMware will report full-year sales of $10.03 billion for the current financial year, with estimates ranging from $10.03 billion to $10.06 billion. For the next financial year, analysts anticipate that the company will post sales of $10.99 billion, with estimates ranging from $10.81 billion to $11.10 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover VMware.
VMware (NYSE:VMW) last announced its quarterly earnings data on Thursday, May 30th. The virtualization software provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.42. VMware had a net margin of 21.50% and a return on equity of 36.48%. The company had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter in the prior year, the company posted $1.26 EPS. The business’s revenue was up 12.8% on a year-over-year basis.
A number of equities analysts have recently issued reports on the stock. Maxim Group restated a “hold” rating on shares of VMware in a research note on Friday, May 31st. Zacks Investment Research upgraded shares of VMware from a “hold” rating to a “buy” rating and set a $228.00 price objective for the company in a research note on Monday, May 6th. Wedbush reaffirmed a “buy” rating and issued a $210.00 target price on shares of VMware in a report on Friday, May 31st. KeyCorp upped their target price on shares of VMware from $172.00 to $192.00 and gave the stock an “overweight” rating in a report on Friday, March 1st. Finally, Deutsche Bank upped their target price on shares of VMware from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Three analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $192.23.
Shares of VMW stock traded down $5.42 during mid-day trading on Tuesday, reaching $169.08. The company’s stock had a trading volume of 553,803 shares, compared to its average volume of 1,331,576. VMware has a 1-year low of $129.33 and a 1-year high of $206.80. The stock has a market cap of $70.88 billion, a price-to-earnings ratio of 34.30, a P/E/G ratio of 2.71 and a beta of 0.90. The company has a debt-to-equity ratio of 7.57, a quick ratio of 0.99 and a current ratio of 0.97.
In other VMware news, VP Amy Fliegelman Olli sold 2,457 shares of the stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $188.28, for a total transaction of $462,603.96. Following the sale, the vice president now owns 30,958 shares of the company’s stock, valued at approximately $5,828,772.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Patrick P. Gelsinger sold 20,000 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $203.89, for a total transaction of $4,077,800.00. Following the sale, the chief executive officer now directly owns 448,888 shares in the company, valued at approximately $91,523,774.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 292,804 shares of company stock worth $54,027,016. Insiders own 28.80% of the company’s stock.
Large investors have recently modified their holdings of the business. Metropolitan Life Insurance Co. NY boosted its stake in shares of VMware by 1.4% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,467 shares of the virtualization software provider’s stock valued at $750,000 after purchasing an additional 77 shares during the last quarter. Flagship Harbor Advisors LLC boosted its stake in shares of VMware by 20.8% in the 1st quarter. Flagship Harbor Advisors LLC now owns 493 shares of the virtualization software provider’s stock valued at $88,000 after purchasing an additional 85 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of VMware by 26.2% in the 1st quarter. Parallel Advisors LLC now owns 458 shares of the virtualization software provider’s stock valued at $83,000 after purchasing an additional 95 shares during the last quarter. Utah Retirement Systems boosted its stake in shares of VMware by 0.8% in the 4th quarter. Utah Retirement Systems now owns 13,048 shares of the virtualization software provider’s stock valued at $1,789,000 after purchasing an additional 100 shares during the last quarter. Finally, Prudential PLC boosted its stake in shares of VMware by 4.2% in the 4th quarter. Prudential PLC now owns 2,500 shares of the virtualization software provider’s stock valued at $343,000 after purchasing an additional 100 shares during the last quarter. 17.91% of the stock is currently owned by hedge funds and other institutional investors.
VMware Company Profile
VMware, Inc provides software in the areas of hybrid cloud, multi-cloud, modern applications, networking and security, and digital workspaces 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; and cloud management products for businesses with automated operation, programmable provisioning, and application monitoring solutions.
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