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.

VMware (NYSE:VMW) last announced its quarterly earnings data on Thursday, August 22nd. The virtualization software provider reported $1.60 EPS for the quarter, beating the Zacks’ consensus estimate of $1.55 by $0.05. VMware had a net margin of 21.50% and a return on equity of 36.48%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the firm posted $1.54 EPS. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. Analysts forecast that VMware will post 4.87 EPS for the current year.

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.

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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Earnings History and Estimates for VMware (NYSE:VMW)

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