VMware (NYSE:VMW) Announces Quarterly Earnings Results, Beats Expectations By $0.45 EPS

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VMware (NYSE:VMW) released its quarterly earnings results on Thursday. The virtualization software provider reported $1.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.45, RTT News reports. VMware had a return on equity of 36.48% and a net margin of 21.50%. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the prior year, the firm posted $1.54 EPS. VMware’s quarterly revenue was up 12.2% compared to the same quarter last year.

Shares of NYSE:VMW opened at $148.15 on Friday. The company has a debt-to-equity ratio of 7.57, a current ratio of 0.97 and a quick ratio of 0.97. The business’s 50 day moving average price is $165.18 and its 200-day moving average price is $177.28. The firm has a market capitalization of $59.10 billion, a PE ratio of 30.05, a P/E/G ratio of 2.23 and a beta of 0.81. VMware has a 1 year low of $129.33 and a 1 year high of $206.80.

In other news, CFO Zane Rowe sold 22,579 shares of VMware stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $175.21, for a total value of $3,956,066.59. Following the completion of the sale, the chief financial officer now directly owns 166,974 shares of the company’s stock, valued at $29,255,514.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider P. Kevan Krysler sold 2,661 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $173.96, for a total value of $462,907.56. Following the transaction, the insider now directly owns 34,774 shares of the company’s stock, valued at $6,049,285.04. The disclosure for this sale can be found here. Insiders sold 84,053 shares of company stock worth $14,639,696 over the last ninety days. Corporate insiders own 28.80% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Clarus Wealth Advisors purchased a new stake in VMware during the 2nd quarter valued at approximately $29,000. Coastal Capital Group Inc. purchased a new stake in VMware during the 2nd quarter valued at approximately $29,000. TRUE Private Wealth Advisors purchased a new stake in VMware during the 2nd quarter valued at approximately $31,000. CSat Investment Advisory L.P. purchased a new stake in VMware during the 2nd quarter valued at approximately $34,000. Finally, Pacific Center for Financial Services raised its stake in VMware by 94.3% during the 2nd quarter. Pacific Center for Financial Services now owns 206 shares of the virtualization software provider’s stock valued at $34,000 after acquiring an additional 100 shares during the last quarter. 17.70% of the stock is owned by hedge funds and other institutional investors.

VMW has been the topic of several research analyst reports. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of VMware in a research report on Wednesday. Citigroup cut their price objective on VMware from $212.00 to $183.00 and set a “buy” rating on the stock in a research report on Friday. Morgan Stanley cut their price objective on VMware from $192.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Friday, May 31st. Nomura cut their price objective on VMware from $130.00 to $114.00 and set a “reduce” rating on the stock in a research report on Friday. Finally, KeyCorp cut their price objective on VMware from $214.00 to $182.00 and set an “overweight” rating on the stock in a research report on Friday. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $177.91.

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.

See Also: Moving Average (MA)

Earnings History for VMware (NYSE:VMW)

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