VMware (NYSE:VMW) Issues Earnings Results

VMware (NYSE:VMW) posted its quarterly earnings results on Tuesday. The virtualization software provider reported $1.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.06, RTT News reports. VMware had a return on equity of 47.55% and a net margin of 66.00%. The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the previous year, the business earned $1.56 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. VMware updated its Q4 guidance to approx $2.16 EPS.

Shares of NYSE VMW opened at $164.90 on Wednesday. VMware has a 1-year low of $128.69 and a 1-year high of $206.80. The business has a 50-day moving average of $160.35 and a 200-day moving average of $164.68. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $67.78 billion, a price-to-earnings ratio of 33.45, a PEG ratio of 2.46 and a beta of 0.92.

A number of research firms have issued reports on VMW. Maxim Group reissued a “hold” rating on shares of VMware in a research report on Friday, August 23rd. KeyCorp lowered their price target on VMware from $182.00 to $175.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. BMO Capital Markets boosted their price target on VMware to $192.00 and gave the company an “outperform” rating in a research report on Wednesday. Cleveland Research reissued a “hold” rating on shares of VMware in a research report on Tuesday, September 3rd. Finally, Bank of America lowered their price target on VMware from $225.00 to $190.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company’s stock. VMware presently has an average rating of “Hold” and a consensus target price of $176.23.

In related news, COO Rangarajan (Raghu) Raghuram sold 24,778 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $140.62, for a total value of $3,484,282.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Amy Fliegelman Olli sold 1,228 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $151.62, for a total value of $186,189.36. Following the completion of the transaction, the vice president now owns 37,519 shares in the company, valued at approximately $5,688,630.78. The disclosure for this sale can be found here. Insiders sold 104,109 shares of company stock valued at $15,837,960 in the last ninety days. Company insiders own 28.80% of the company’s stock.

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.

Read More: Earnings Per Share (EPS)

Earnings History for VMware (NYSE:VMW)

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