VMware (NYSE:VMW) Announces Earnings Results, Beats Expectations By $0.18 EPS

VMware (NYSE:VMW) issued its quarterly earnings results on Tuesday. The virtualization software provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.18, MarketWatch Earnings reports. The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.12 billion. VMware had a return on equity of 23.49% and a net margin of 16.77%. VMware’s revenue was up 11.3% on a year-over-year basis. During the same period last year, the company earned $1.05 earnings per share. VMware updated its Q4 guidance to $1.96 EPS.

NYSE VMW traded down $2.21 during trading on Tuesday, hitting $116.48. The company’s stock had a trading volume of 4,778,350 shares, compared to its average volume of 1,442,587. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $48.78 billion, a P/E ratio of 23.92, a PEG ratio of 2.16 and a beta of 0.75. The firm’s 50 day moving average is $139.80. VMware has a fifty-two week low of $114.01 and a fifty-two week high of $172.00.

The firm also recently declared a dividend, which was paid on Monday, November 1st. Shareholders of record on Friday, October 29th were issued a $27.40 dividend. The ex-dividend date of this dividend was Tuesday, November 2nd. This is an increase from VMware’s previous dividend of $26.81.

VMW has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their target price on VMware from $175.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, August 27th. Citigroup initiated coverage on VMware in a research note on Monday, September 20th. They issued a “buy” rating and a $190.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on VMware in a research note on Monday, November 1st. They issued a “hold” rating and a $170.00 target price on the stock. TheStreet lowered VMware from a “b” rating to a “c+” rating in a research note on Thursday, November 18th. Finally, Barclays initiated coverage on VMware in a research note on Monday, November 8th. They issued an “overweight” rating and a $163.00 target price on the stock. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $164.53.

In other news, EVP Amy Fliegelman Olli sold 1,478 shares of the stock in a transaction on Thursday, September 2nd. The shares were sold at an average price of $147.18, for a total value of $217,532.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jean Pierre Brulard sold 338 shares of VMware stock in a transaction dated Wednesday, August 25th. The shares were sold at an average price of $160.00, for a total transaction of $54,080.00. The disclosure for this sale can be found here. In the last three months, insiders sold 5,682 shares of company stock valued at $848,550. Corporate insiders own 27.80% of the company’s stock.

An institutional investor recently raised its position in VMware stock. Morgan Stanley lifted its position in shares of VMware, Inc. (NYSE:VMW) by 38.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 482,318 shares of the virtualization software provider’s stock after purchasing an additional 133,792 shares during the period. Morgan Stanley owned about 0.12% of VMware worth $77,157,000 at the end of the most recent reporting period. 16.99% of the stock is owned by institutional investors.

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 for VMware (NYSE:VMW)

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