VMware, Inc. (NYSE:VMW) Expected to Post Quarterly Sales of $2.43 Billion

Equities analysts predict that VMware, Inc. (NYSE:VMW) will post $2.43 billion in sales for the current quarter, Zacks reports. Nine analysts have made estimates for VMware’s earnings, with the lowest sales estimate coming in at $2.42 billion and the highest estimate coming in at $2.43 billion. VMware reported sales of $2.17 billion in the same quarter last year, which would suggest a positive year over year growth rate of 12%. The company is scheduled to issue its next quarterly earnings results after the market closes on Thursday, August 22nd.

According to Zacks, analysts expect that VMware will report full-year sales of $10.03 billion for the current financial year, with estimates ranging from $10.03 billion to $10.06 billion. For the next financial year, analysts forecast that the firm will post sales of $10.99 billion, with estimates ranging from $10.81 billion to $11.10 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for VMware.

VMware (NYSE:VMW) last issued its quarterly earnings data on Thursday, May 30th. The virtualization software provider reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.42. The firm had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.25 billion. VMware had a return on equity of 36.48% and a net margin of 21.50%. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 EPS.

Several equities analysts have recently issued reports on VMW shares. Citigroup set a $212.00 target price on VMware and gave the company a “buy” rating in a report on Friday, August 16th. Morgan Stanley reduced their target price on VMware from $192.00 to $190.00 and set an “equal weight” rating for the company in a report on Friday, May 31st. BMO Capital Markets reduced their target price on VMware from $198.00 to $160.00 and set an “outperform” rating for the company in a report on Wednesday. Deutsche Bank reduced their target price on VMware from $220.00 to $190.00 and set a “buy” rating for the company in a report on Monday. Finally, Wedbush reaffirmed an “outperform” rating on shares of VMware in a report on Thursday, July 18th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company. VMware currently has a consensus rating of “Hold” and an average price target of $187.64.

Shares of VMW stock traded down $0.97 during trading on Monday, hitting $147.12. The company’s stock had a trading volume of 850,589 shares, compared to its average volume of 1,376,647. The company has a market cap of $59.00 billion, a PE ratio of 29.84, a P/E/G ratio of 2.23 and a beta of 0.81. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 7.57. The business has a fifty day moving average of $165.62 and a 200-day moving average of $177.29. VMware has a 52 week low of $129.33 and a 52 week high of $206.80.

In related news, insider P. Kevan Krysler sold 2,661 shares of the 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 owns 34,774 shares of the company’s stock, valued at $6,049,285.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Patrick P. Gelsinger sold 20,000 shares of the stock in a transaction on Friday, July 19th. The shares were sold at an average price of $180.00, for a total value of $3,600,000.00. Following the completion of the transaction, the chief executive officer now directly owns 445,214 shares in the company, valued at approximately $80,138,520. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,053 shares of company stock worth $14,639,696. Insiders own 28.80% of the company’s stock.

Large investors have recently made changes to their positions in the company. Clarus Wealth Advisors bought a new position in shares of VMware during the second quarter valued at about $29,000. Coastal Capital Group Inc. purchased a new stake in shares of VMware during the second quarter worth about $29,000. TRUE Private Wealth Advisors purchased a new stake in shares of VMware during the second quarter worth about $31,000. CSat Investment Advisory L.P. purchased a new stake in shares of VMware during the second quarter worth about $34,000. Finally, Pacific Center for Financial Services boosted its holdings in shares of VMware by 94.3% during the second quarter. Pacific Center for Financial Services now owns 206 shares of the virtualization software provider’s stock worth $34,000 after purchasing an additional 100 shares during the period. 17.70% of the stock is currently owned by hedge funds and other institutional investors.

About VMware

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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