Brokerages Anticipate VMware, Inc. (VMW) Will Announce Quarterly Sales of $2.26 Billion

Wall Street brokerages forecast that VMware, Inc. (NYSE:VMW) will report $2.26 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have provided estimates for VMware’s earnings. The highest sales estimate is $2.27 billion and the lowest is $2.26 billion. The firm is scheduled to issue its next earnings report on Monday, January 1st.

On average, analysts expect that VMware will report full year sales of $2.26 billion for the current fiscal year, with estimates ranging from $7.87 billion to $7.89 billion. For the next financial year, analysts anticipate that the firm will post sales of $8.66 billion per share, with estimates ranging from $8.60 billion to $8.76 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for VMware.

VMware (NYSE:VMW) last announced its earnings results on Thursday, November 30th. The virtualization software provider reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.97 billion. VMware had a return on equity of 18.57% and a net margin of 18.97%. VMware’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 EPS.

A number of brokerages have weighed in on VMW. Zacks Investment Research lowered VMware from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Barclays reissued a “buy” rating on shares of VMware in a research note on Friday, November 10th. KeyCorp raised VMware from a “sector weight” rating to an “overweight” rating and set a $142.00 price target on the stock in a research note on Monday, December 18th. Stifel Nicolaus reissued a “buy” rating and set a $152.00 price target (up previously from $150.00) on shares of VMware in a research note on Monday, November 27th. Finally, Drexel Hamilton reissued a “buy” rating and set a $120.00 price target on shares of VMware in a research note on Thursday, November 2nd. Fourteen research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $125.20.

In related news, EVP Maurizio Carli sold 2,581 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $129.88, for a total value of $335,220.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Egon Durban sold 435,682 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $109.31, for a total value of $47,624,399.42. The disclosure for this sale can be found here. Insiders sold a total of 474,155 shares of company stock worth $52,253,932 over the last ninety days. Corporate insiders own 34.40% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. raised its position in VMware by 69.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 288,962 shares of the virtualization software provider’s stock valued at $25,264,000 after purchasing an additional 118,092 shares during the period. BB&T Securities LLC raised its position in VMware by 47.9% in the second quarter. BB&T Securities LLC now owns 3,363 shares of the virtualization software provider’s stock valued at $294,000 after purchasing an additional 1,089 shares during the period. Federated Investors Inc. PA raised its position in VMware by 0.4% in the second quarter. Federated Investors Inc. PA now owns 15,323 shares of the virtualization software provider’s stock valued at $1,339,000 after purchasing an additional 66 shares during the period. Victory Capital Management Inc. raised its position in VMware by 22.0% in the second quarter. Victory Capital Management Inc. now owns 17,277 shares of the virtualization software provider’s stock valued at $1,511,000 after purchasing an additional 3,114 shares during the period. Finally, Prudential Financial Inc. raised its position in VMware by 7.6% in the second quarter. Prudential Financial Inc. now owns 47,648 shares of the virtualization software provider’s stock valued at $4,166,000 after purchasing an additional 3,376 shares during the period. 22.53% of the stock is currently owned by institutional investors and hedge funds.

Shares of VMware (NYSE VMW) traded up $0.02 during trading hours on Thursday, reaching $131.26. The company’s stock had a trading volume of 965,254 shares, compared to its average volume of 2,140,000. The firm has a market cap of $52,920.00, a PE ratio of 37.50, a PEG ratio of 3.02 and a beta of 0.67. The company has a current ratio of 2.86, a quick ratio of 2.86 and a debt-to-equity ratio of 0.51. VMware has a 52-week low of $79.49 and a 52-week high of $132.80.

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About VMware

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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