VMware (VMW) Issues Q2 Earnings Guidance

VMware (NYSE:VMW) issued an update on its second quarter earnings guidance on Monday morning. The company provided EPS guidance of $1.49 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.49. The company issued revenue guidance of $2.145 billion, compared to the consensus revenue estimate of $2.15 billion.VMware also updated its FY19 guidance to $6.14 EPS.

Shares of VMware opened at $162.02 on Tuesday, MarketBeat.com reports. VMware has a 1 year low of $85.70 and a 1 year high of $165.00. The stock has a market capitalization of $59.80 billion, a price-to-earnings ratio of 41.97, a price-to-earnings-growth ratio of 2.55 and a beta of 0.71. The company has a quick ratio of 3.04, a current ratio of 3.04 and a debt-to-equity ratio of 0.44.

VMware (NYSE:VMW) last announced its quarterly earnings results on Thursday, May 31st. The virtualization software provider reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.11. VMware had a return on equity of 19.58% and a net margin of 15.61%. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the prior year, the company earned $0.99 earnings per share. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. research analysts predict that VMware will post 4.71 EPS for the current fiscal year.

Several equities research analysts have issued reports on VMW shares. Zacks Investment Research upgraded VMware from a hold rating to a buy rating and set a $135.00 price target for the company in a report on Wednesday, March 7th. Robert W. Baird restated a buy rating and issued a $163.00 price target on shares of VMware in a report on Friday, June 1st. TheStreet downgraded VMware from a b rating to a c rating in a report on Friday, June 1st. Maxim Group increased their price objective on VMware from $134.00 to $142.00 and gave the stock a hold rating in a report on Friday, June 1st. Finally, Mizuho reiterated a hold rating and set a $125.00 price objective on shares of VMware in a report on Thursday, May 24th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and nineteen have issued a buy rating to the company’s stock. VMware currently has an average rating of Buy and an average target price of $140.85.

In related news, COO Rajiv Ramaswami sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 2nd. The stock was sold at an average price of $132.85, for a total transaction of $1,328,500.00. Following the completion of the transaction, the chief operating officer now directly owns 307,763 shares of the company’s stock, valued at $40,886,314.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 29.90% of the company’s stock.

About VMware

VMware, Inc provides compute, cloud, mobility, networking, and security infrastructure software to businesses 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; storage and availability products that provide data storage and protection options; network and security products; and cloud management and automation products to manage and automate overarching IT processes involved in provisioning IT services and resources to users from initial infrastructure deployment to retirement.

Earnings History and Estimates for VMware (NYSE:VMW)

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