VMware (NYSE:VMW) Updates Q3 Earnings Guidance
VMware (NYSE:VMW) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of approx $1.42 for the period, compared to the Thomson Reuters consensus earnings per share 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 brokerages recently weighed in on VMW. Morgan Stanley cut their target price on shares of VMware from $192.00 to $190.00 and set an equal weight rating on the stock in a research note on Friday, May 31st. KeyCorp reaffirmed an overweight rating and set a $214.00 target price (up from $206.00) on shares of VMware in a research note on Friday, May 31st. Raymond James upped their target price on shares of VMware from $196.00 to $206.00 and gave the stock an outperform rating in a research note on Friday, May 31st. Bank of America reaffirmed a buy rating and set a $225.00 target price on shares of VMware in a research note on Friday, May 31st. Finally, Maxim Group reaffirmed a hold rating on shares of VMware in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $187.64.
Shares of NYSE:VMW traded up $0.06 during trading hours on Thursday, reaching $148.15. The stock had a trading volume of 1,619,648 shares, compared to its average volume of 1,309,193. VMware has a 1 year low of $129.33 and a 1 year high of $206.80. The firm’s 50 day moving average is $165.18 and its 200-day moving average is $177.28. The company has a debt-to-equity ratio of 7.57, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market capitalization of $59.00 billion, a price-to-earnings ratio of 30.05, a P/E/G ratio of 2.23 and a beta of 0.81.
In related news, 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 transaction, the chief executive officer now directly owns 445,214 shares of the company’s stock, valued at approximately $80,138,520. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Zane Rowe sold 22,579 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $175.21, for a total transaction of $3,956,066.59. Following the completion of the transaction, the chief financial officer now directly owns 166,974 shares in the company, valued at $29,255,514.54. The disclosure for this sale can be found here. Insiders sold a total of 84,053 shares of company stock worth $14,639,696 over the last ninety days. Insiders own 28.80% of the company’s stock.
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.
Featured Article: Correction
Receive News & Ratings for VMware Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VMware and related companies with MarketBeat.com's FREE daily email newsletter.