Vmware, Inc. (NYSE:VMW) – Equities researchers at William Blair raised their Q2 2018 earnings per share estimates for Vmware in a research note issued on Monday. William Blair analyst J. Ader now forecasts that the virtualization software provider will post earnings per share of $0.84 for the quarter, up from their previous estimate of $0.80. William Blair also issued estimates for Vmware’s Q3 2018 earnings at $0.94 EPS, Q4 2018 earnings at $1.27 EPS, FY2018 earnings at $3.73 EPS, Q1 2019 earnings at $0.78 EPS, Q2 2019 earnings at $0.95 EPS, Q3 2019 earnings at $1.08 EPS, Q4 2019 earnings at $1.38 EPS and FY2019 earnings at $4.19 EPS.
Vmware (NYSE:VMW) last posted its quarterly earnings data on Thursday, June 1st. The virtualization software provider reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. The company had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Vmware had a net margin of 17.36% and a return on equity of 17.19%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.86 EPS.
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Several other brokerages also recently commented on VMW. Cowen and Company reiterated a “market perform” rating and issued a $104.00 target price (up previously from $98.00) on shares of Vmware in a report on Monday. BMO Capital Markets lifted their target price on shares of Vmware from $105.00 to $110.00 and gave the stock a “market perform” rating in a report on Tuesday. Deutsche Bank AG lifted their target price on shares of Vmware from $100.00 to $110.00 and gave the stock a “hold” rating in a report on Tuesday. Royal Bank Of Canada reiterated a “buy” rating and issued a $113.00 target price on shares of Vmware in a report on Tuesday. Finally, Maxim Group reiterated a “hold” rating and issued a $96.00 target price on shares of Vmware in a report on Friday, June 2nd. Eighteen research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Vmware presently has a consensus rating of “Buy” and a consensus price target of $100.69.
Vmware (NYSE:VMW) traded up 0.22% during trading on Thursday, reaching $95.98. 139,401 shares of the company’s stock were exchanged. Vmware has a 1-year low of $71.42 and a 1-year high of $98.20. The company has a market capitalization of $39.20 billion, a PE ratio of 34.55 and a beta of 0.77. The company’s 50-day moving average is $91.39 and its 200-day moving average is $91.50.
Vmware declared that its Board of Directors has authorized a share buyback program on Monday, August 14th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the virtualization software provider to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
In other Vmware news, COO Rajiv Ramaswami sold 20,457 shares of the business’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $87.84, for a total value of $1,796,942.88. Following the completion of the transaction, the chief operating officer now directly owns 313,721 shares of the company’s stock, valued at $27,557,252.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Maurizio Carli sold 11,237 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $94.66, for a total transaction of $1,063,694.42. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.
Several institutional investors have recently made changes to their positions in VMW. Dimensional Fund Advisors LP increased its position in shares of Vmware by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 88,248 shares of the virtualization software provider’s stock worth $6,948,000 after buying an additional 3,728 shares in the last quarter. Gulf International Bank UK Ltd increased its position in shares of Vmware by 0.5% in the first quarter. Gulf International Bank UK Ltd now owns 24,556 shares of the virtualization software provider’s stock worth $2,262,000 after buying an additional 115 shares in the last quarter. Capstone Asset Management Co. increased its position in shares of Vmware by 8.4% in the first quarter. Capstone Asset Management Co. now owns 3,739 shares of the virtualization software provider’s stock worth $345,000 after buying an additional 290 shares in the last quarter. Atria Investments LLC bought a new position in shares of Vmware during the first quarter worth $257,000. Finally, Fox Run Management L.L.C. bought a new position in shares of Vmware during the first quarter worth $304,000. 21.82% of the stock is owned by institutional investors.
VMware, Inc is an information technology (IT) company. The Company is engaged in development and application of virtualization technologies with x86 server-based computing, separating application software from the underlying hardware. The Company offers various products, which allow organizations to manage IT resources across private clouds and multi-cloud, multi-device environments by leveraging synergies across three product categories: Software-Defined Data Center (SDDC), Hybrid Cloud Computing and End-User Computing (EUC).
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