Analysts Expect Vmware, Inc. (VMW) Will Announce Quarterly Sales of $1.96 Billion
Equities research analysts expect Vmware, Inc. (NYSE:VMW) to announce $1.96 billion in sales for the current fiscal quarter, Zacks reports. Ten analysts have issued estimates for Vmware’s earnings. The highest sales estimate is $1.98 billion and the lowest is $1.95 billion. The business is expected to report its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that Vmware will report full-year sales of $1.96 billion for the current financial year, with estimates ranging from $7.82 billion to $7.83 billion. For the next year, analysts anticipate that the company will report sales of $8.41 billion per share, with estimates ranging from $8.22 billion to $8.61 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Vmware.
Vmware (NYSE:VMW) last announced its earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.04. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. Vmware had a return on equity of 18.06% and a net margin of 17.81%. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.97 earnings per share.
Several equities analysts recently commented on VMW shares. Cowen and Company upped their price objective on Vmware from $92.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, May 25th. Zacks Investment Research cut shares of Vmware from a “buy” rating to a “hold” rating in a report on Tuesday, May 30th. Robert W. Baird raised shares of Vmware from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $90.00 to $115.00 in a report on Wednesday, May 31st. Royal Bank Of Canada boosted their target price on shares of Vmware from $97.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, May 31st. Finally, J P Morgan Chase & Co reissued an “overweight” rating and set a $95.00 target price on shares of Vmware in a report on Thursday, June 1st. Thirteen research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $112.00.
In other news, COO Sanjay Poonen sold 1,134 shares of the stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $106.51, for a total transaction of $120,782.34. Following the completion of the sale, the chief operating officer now directly owns 192,774 shares in the company, valued at $20,532,358.74. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction of $1,796,942.88. Following the sale, the chief operating officer now owns 313,721 shares of the company’s stock, valued at $27,557,252.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,342 shares of company stock valued at $4,045,490. 0.52% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. purchased a new stake in shares of Vmware during the first quarter worth about $141,000. Penserra Capital Management LLC boosted its holdings in shares of Vmware by 9.5% during the first quarter. Penserra Capital Management LLC now owns 1,840 shares of the virtualization software provider’s stock worth $169,000 after purchasing an additional 160 shares during the period. BlueMountain Capital Management LLC purchased a new stake in shares of Vmware during the second quarter worth about $191,000. BB&T Securities LLC purchased a new stake in shares of Vmware during the first quarter worth about $209,000. Finally, Eagle Global Advisors LLC purchased a new stake in shares of Vmware during the second quarter worth about $203,000. Institutional investors own 21.81% of the company’s stock.
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Shares of Vmware (NYSE:VMW) traded down 0.45% during trading on Friday, hitting $110.25. The stock had a trading volume of 1,257,925 shares. The company has a market capitalization of $45.09 billion, a price-to-earnings ratio of 39.69 and a beta of 0.74. Vmware has a 52 week low of $72.05 and a 52 week high of $111.61. The company’s 50 day moving average price is $100.28 and its 200 day moving average price is $93.70.
Vmware announced that its board has authorized a share buyback program on Monday, August 14th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the virtualization software provider to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
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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