VMware (NYSE:VMW) Issues Q3 Earnings Guidance

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VMware (NYSE:VMW) updated its third quarter earnings guidance on Thursday. The company provided EPS guidance of approx $1.42 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.57. The company issued revenue guidance of approx $2.40 billion, compared to the consensus revenue estimate of $2.44 billion.VMware also updated its FY 2020 guidance to EPS.

Several analysts recently commented on the stock. Oppenheimer raised their price objective on shares of VMware from $200.00 to $220.00 and gave the company an outperform rating in a research note on Monday, April 29th. Deutsche Bank reduced their price objective on shares of VMware from $220.00 to $190.00 and set a buy rating for the company in a research note on Monday. Bank of America restated a buy rating and set a $225.00 target price on shares of VMware in a report on Friday, May 31st. Jefferies Financial Group raised their target price on shares of VMware from $203.00 to $213.00 and gave the company a buy rating in a report on Friday, May 31st. Finally, BMO Capital Markets dropped their target price on shares of VMware from $198.00 to $160.00 and set an outperform rating for the company in a report on Wednesday. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $187.64.

Shares of VMW traded up $0.06 during mid-day trading on Thursday, hitting $148.15. The company had a trading volume of 1,619,648 shares, compared to its average volume of 1,309,193. The business’s 50-day simple moving average is $165.18 and its 200-day simple moving average is $177.28. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 7.57. VMware has a 1-year low of $129.33 and a 1-year high of $206.80. The stock has a market cap of $59.00 billion, a PE ratio of 30.05, a P/E/G ratio of 2.23 and a beta of 0.81.

VMware (NYSE:VMW) last announced its quarterly earnings results on Thursday, August 22nd. The virtualization software provider reported $1.60 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.05. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.43 billion. VMware had a net margin of 21.50% and a return on equity of 36.48%. VMware’s revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.54 earnings per share. On average, sell-side analysts expect that VMware will post 4.87 earnings per share for the current year.

In other VMware news, COO Rajiv Ramaswami sold 38,813 shares of VMware stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $170.58, for a total transaction of $6,620,721.54. Following the transaction, the chief operating officer now directly owns 181,243 shares of the company’s stock, valued at $30,916,430.94. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider P. Kevan Krysler sold 2,661 shares of VMware stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $173.96, for a total transaction of $462,907.56. Following the transaction, the insider now directly owns 34,774 shares in the company, valued at $6,049,285.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 84,053 shares of company stock worth $14,639,696. 28.80% of the stock is currently owned by corporate insiders.

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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Earnings History and Estimates for VMware (NYSE:VMW)

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