VMware (NYSE:VMW) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

VMware (NYSE:VMW) posted its quarterly earnings data on Tuesday. The virtualization software provider reported $1.49 EPS for the quarter, beating the 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 business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the prior year, the business earned $1.56 earnings per share. VMware’s revenue for the quarter was up 11.6% on a year-over-year basis. VMware updated its Q4 guidance to approx $2.16 EPS.

Shares of NYSE:VMW traded down $3.83 during trading on Tuesday, hitting $164.90. 2,516,771 shares of the company were exchanged, compared to its average volume of 1,322,968. The company has a market cap of $68.17 billion, a PE ratio of 33.45, a P/E/G ratio of 2.46 and a beta of 0.92. The stock has a 50 day moving average of $160.35 and a 200 day moving average of $164.68. VMware has a 52-week low of $128.69 and a 52-week high of $206.80. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.96 and a quick ratio of 0.96.

Several research firms recently commented on VMW. Maxim Group reiterated a “hold” rating on shares of VMware in a research note on Friday, August 23rd. Barclays set a $186.00 price objective on VMware and gave the company a “buy” rating in a research note on Friday, November 1st. Oppenheimer reiterated an “outperform” rating and issued a $200.00 price objective on shares of VMware in a research note on Friday, September 6th. Mizuho set a $145.00 price objective on VMware and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, BMO Capital Markets dropped their price objective on VMware from $198.00 to $160.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $173.50.

In other news, VP Amy Fliegelman Olli sold 2,753 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $150.00, for a total value of $412,950.00. Following the transaction, the vice president now owns 38,728 shares of the company’s stock, valued at $5,809,200. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Rangarajan (Raghu) Raghuram sold 24,712 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $163.53, for a total transaction of $4,041,153.36. Following the completion of the transaction, the chief operating officer now directly owns 221,977 shares in the company, valued at approximately $36,299,898.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,109 shares of company stock worth $15,837,960. 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.

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Earnings History for VMware (NYSE:VMW)

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