VMware (NYSE:VMW) Issues FY 2022 Earnings Guidance

VMware (NYSE:VMW) issued an update on its FY 2022 earnings guidance on Wednesday morning. The company provided EPS guidance of $7.190-$7.190 for the period, compared to the Thomson Reuters consensus EPS estimate of $6.940. The company issued revenue guidance of $12.83 billion-$12.83 billion, compared to the consensus revenue estimate of $12.81 billion.VMware also updated its Q4 2022 guidance to $1.960-$1.960 EPS.

Shares of VMW traded up $2.22 during mid-day trading on Thursday, reaching $118.70. 3,951,881 shares of the company’s stock were exchanged, compared to its average volume of 1,453,656. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.11 and a current ratio of 1.11. The stock’s 50-day simple moving average is $139.27. VMware has a 52-week low of $114.01 and a 52-week high of $172.00. The company has a market cap of $49.71 billion, a P/E ratio of 24.37, a price-to-earnings-growth ratio of 2.16 and a beta of 0.75.

VMware (NYSE:VMW) last issued its quarterly earnings data on Monday, November 22nd. The virtualization software provider reported $1.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.18. VMware had a net margin of 16.77% and a return on equity of 23.49%. The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period last year, the company posted $1.05 EPS. The company’s revenue was up 11.3% on a year-over-year basis. On average, equities research analysts predict that VMware will post 4.6 EPS for the current fiscal year.

The company also recently announced a dividend, which was paid on Monday, November 1st. Investors of record on Friday, October 29th were given a dividend of $27.40 per share. The ex-dividend date of this dividend was Tuesday, November 2nd. This is a positive change from VMware’s previous dividend of $26.81.

A number of analysts recently issued reports on the stock. Piper Sandler decreased their target price on shares of VMware from $178.00 to $154.00 and set an overweight rating on the stock in a research report on Wednesday. Barclays decreased their target price on shares of VMware from $163.00 to $140.00 and set an overweight rating on the stock in a research report on Wednesday. Mizuho decreased their target price on shares of VMware from $165.00 to $138.00 and set a neutral rating on the stock in a research report on Monday, November 15th. Stifel Nicolaus lifted their price target on shares of VMware from $175.00 to $185.00 and gave the company a buy rating in a report on Friday, August 27th. Finally, Oppenheimer decreased their price target on shares of VMware from $175.00 to $148.00 and set an outperform rating on the stock in a report on Wednesday, November 3rd. Eleven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $154.18.

In other news, EVP Amy Fliegelman Olli sold 2,266 shares of the firm’s stock in a transaction that occurred on Monday, October 4th. The shares were sold at an average price of $151.15, for a total transaction of $342,505.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Sumit Dhawan sold 1,600 shares of the firm’s stock in a transaction on Tuesday, September 7th. The stock was sold at an average price of $146.52, for a total transaction of $234,432.00. The disclosure for this sale can be found here. Insiders have sold a total of 5,344 shares of company stock worth $794,470 in the last 90 days. Company insiders own 27.80% of the company’s stock.

An institutional investor recently raised its position in VMware stock. Morgan Stanley lifted its holdings in VMware, Inc. (NYSE:VMW) by 38.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 482,318 shares of the virtualization software provider’s stock after buying an additional 133,792 shares during the quarter. Morgan Stanley owned approximately 0.12% of VMware worth $77,157,000 as of its most recent filing with the SEC. 16.99% of the stock is currently owned by institutional investors and hedge funds.

VMware Company Profile

VMware, Inc engages in the provision of cloud infrastructure and business mobility. Its products include Software-Defined Data Center, Hybrid Cloud Computing, and End-User Computing. It supports modernizing data centers, integrating public clouds, empowering digital workspaces and transforming security.

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Earnings History and Estimates for VMware (NYSE:VMW)

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