Brokerages Expect Pivotal Software (NYSE:PVTL) Will Post Earnings of -$0.03 Per Share

Wall Street brokerages expect that Pivotal Software (NYSE:PVTL) will post ($0.03) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Pivotal Software’s earnings, with the lowest EPS estimate coming in at ($0.05) and the highest estimate coming in at ($0.01). Pivotal Software posted earnings of ($0.05) per share in the same quarter last year, which would suggest a positive year over year growth rate of 40%. The business is scheduled to issue its next quarterly earnings report on Tuesday, December 10th.

According to Zacks, analysts expect that Pivotal Software will report full year earnings of ($0.13) per share for the current fiscal year, with EPS estimates ranging from ($0.17) to ($0.07). For the next financial year, analysts forecast that the business will report earnings of $0.00 per share, with EPS estimates ranging from ($0.04) to $0.03. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover Pivotal Software.

Pivotal Software (NYSE:PVTL) last issued its quarterly earnings data on Wednesday, September 4th. The company reported ($0.09) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.04. Pivotal Software had a negative return on equity of 9.92% and a negative net margin of 18.66%. The business had revenue of $193.00 million for the quarter, compared to the consensus estimate of $186.50 million. During the same period last year, the business earned ($0.06) EPS. The firm’s revenue was up 17.4% compared to the same quarter last year.

A number of research analysts recently weighed in on PVTL shares. Zacks Investment Research raised Pivotal Software from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research note on Friday. William Blair downgraded Pivotal Software from an “outperform” rating to a “market perform” rating in a research report on Friday, August 23rd. Wedbush reaffirmed a “neutral” rating and issued a $15.00 price target on shares of Pivotal Software in a research report on Thursday, August 15th. Credit Suisse Group downgraded Pivotal Software from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $20.00 to $15.00 in a research report on Monday, August 26th. Finally, Needham & Company LLC downgraded Pivotal Software from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $17.30.

Shares of PVTL stock remained flat at $$14.98 during trading on Tuesday. The company had a trading volume of 13,064 shares, compared to its average volume of 1,299,159. The stock has a 50 day moving average price of $14.93 and a 200 day moving average price of $14.45. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 0.09. Pivotal Software has a 1-year low of $8.03 and a 1-year high of $24.39. The firm has a market cap of $4.13 billion, a P/E ratio of -23.78 and a beta of -0.46.

In other news, President William Cook sold 12,392 shares of Pivotal Software stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $14.87, for a total transaction of $184,269.04. Also, CEO Robert C. Mee sold 20,653 shares of Pivotal Software stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $14.86, for a total value of $306,903.58. Over the last ninety days, insiders sold 45,491 shares of company stock worth $676,245. Company insiders own 64.90% of the company’s stock.

Large investors have recently made changes to their positions in the company. AdvisorNet Financial Inc acquired a new stake in shares of Pivotal Software during the 2nd quarter worth approximately $32,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Pivotal Software in the second quarter worth $34,000. Whittier Trust Co. bought a new position in shares of Pivotal Software in the third quarter worth $34,000. Resources Investment Advisors LLC. bought a new position in shares of Pivotal Software in the second quarter worth $45,000. Finally, Neuburgh Advisers LLC increased its holdings in shares of Pivotal Software by 131.1% in the second quarter. Neuburgh Advisers LLC now owns 5,472 shares of the company’s stock worth $58,000 after purchasing an additional 3,104 shares during the period. 24.37% of the stock is currently owned by institutional investors.

Pivotal Software Company Profile

Pivotal Software, Inc, together with its subsidiaries, provides an integrated solution that combines a cloud-native application platform and services in the United States. Its cloud-native platform, Pivotal Cloud Foundry (PCF), accelerates and streamlines software development by reducing the complexity of building, deploying, and operating modern applications.

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Earnings History and Estimates for Pivotal Software (NYSE:PVTL)

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