Analysts Anticipate Vmware, Inc. (NYSE:VMW) Will Post Quarterly Sales of $1.87 Billion
Wall Street brokerages expect Vmware, Inc. (NYSE:VMW) to report sales of $1.87 billion for the current quarter, according to Zacks. Nine analysts have issued estimates for Vmware’s earnings, with the highest sales estimate coming in at $1.89 billion and the lowest estimate coming in at $1.86 billion. The business is scheduled to report its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that Vmware will report full year sales of $1.87 billion for the current financial year, with estimates ranging from $7.58 billion to $7.68 billion. For the next fiscal year, analysts forecast that the company will post sales of $8.06 billion per share, with estimates ranging from $7.95 billion to $8.23 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Vmware.
Vmware (NYSE:VMW) last announced its quarterly earnings results on Thursday, June 1st. The virtualization software provider reported $0.99 EPS for the quarter, beating the consensus estimate of $0.95 by $0.04. Vmware had a return on equity of 17.19% and a net margin of 17.36%. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the company posted $0.86 earnings per share. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year.
A number of equities research analysts recently weighed in on VMW shares. BTIG Research started coverage on Vmware in a research note on Monday, April 17th. They issued a “neutral” rating on the stock. Zacks Investment Research upgraded Vmware from a “hold” rating to a “buy” rating and set a $103.00 price target on the stock in a research note on Monday, April 3rd. Cowen and Company increased their price target on Vmware from $92.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, May 25th. Royal Bank Of Canada increased their price target on Vmware from $97.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, May 31st. Finally, Deutsche Bank AG increased their price target on Vmware from $85.00 to $90.00 and gave the company a “hold” rating in a research note on Tuesday, April 11th. Seventeen investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $96.67.
In other Vmware news, COO Rajiv Ramaswami sold 20,457 shares of the stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $87.84, for a total value of $1,796,942.88. Following the completion of the transaction, the chief operating officer now directly owns 313,721 shares in the company, valued at $27,557,252.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Maurizio Carli sold 11,237 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $94.66, for a total value of $1,063,694.42. The disclosure for this sale can be found here. Insiders sold 698,048 shares of company stock valued at $62,259,433 over the last quarter. Corporate insiders own 0.52% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Financial Architects Inc purchased a new position in Vmware during the first quarter valued at approximately $140,000. Advantage Investment Management LLC purchased a new position in Vmware during the first quarter valued at approximately $139,000. Oppenheimer Asset Management Inc. purchased a new position in Vmware during the first quarter valued at approximately $141,000. Penserra Capital Management LLC increased its position in Vmware by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,840 shares of the virtualization software provider’s stock valued at $169,000 after buying an additional 160 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in Vmware by 34.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,887 shares of the virtualization software provider’s stock valued at $149,000 after buying an additional 483 shares in the last quarter. Hedge funds and other institutional investors own 21.86% of the company’s stock.
Shares of Vmware (NYSE VMW) traded down 0.29% during midday trading on Friday, hitting $92.27. 1,031,710 shares of the stock traded hands. The firm’s 50 day moving average price is $89.67 and its 200 day moving average price is $90.03. Vmware has a 12-month low of $69.86 and a 12-month high of $98.00. The company has a market capitalization of $37.69 billion, a PE ratio of 33.21 and a beta of 0.76.
Vmware Company Profile
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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