VMware (NYSE:VMW) Posts Earnings Results, Misses Expectations By $0.28 EPS

VMware (NYSE:VMWGet Rating) announced its earnings results on Thursday. The virtualization software provider reported $1.28 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.28), MarketWatch Earnings reports. VMware had a return on equity of 30.03% and a net margin of 14.16%. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the prior year, the company earned $1.24 earnings per share. VMware’s revenue was up 3.1% compared to the same quarter last year.

VMware stock opened at $129.26 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a fifty day moving average price of $110.30 and a two-hundred day moving average price of $116.75. VMware has a 52-week low of $91.53 and a 52-week high of $167.83. The firm has a market capitalization of $54.43 billion, a P/E ratio of 29.99, a P/E/G ratio of 1.56 and a beta of 0.68.

Several equities analysts have issued reports on VMW shares. Morgan Stanley lowered their target price on shares of VMware from $147.00 to $138.00 and set an “equal weight” rating on the stock in a research note on Friday, February 25th. UBS Group decreased their target price on shares of VMware from $125.00 to $119.00 and set a “neutral” rating on the stock in a research report on Friday, February 25th. Monness Crespi & Hardt cut their price target on shares of VMware to $136.00 and set a “sector weight” rating on the stock in a report on Thursday, May 19th. Barclays reduced their price target on VMware from $140.00 to $135.00 in a research report on Friday, February 25th. Finally, Jefferies Financial Group dropped their price target on VMware from $125.00 to $105.00 in a research note on Monday, May 23rd. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $139.57.

In related news, CFO Zane Rowe sold 34,172 shares of the stock in a transaction on Monday, April 4th. The shares were sold at an average price of $114.61, for a total transaction of $3,916,452.92. Following the completion of the transaction, the chief financial officer now owns 171,042 shares in the company, valued at $19,603,123.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jean Pierre Brulard sold 7,656 shares of the stock in a transaction on Friday, April 1st. The stock was sold at an average price of $114.04, for a total transaction of $873,090.24. Following the transaction, the executive vice president now owns 79,485 shares of the company’s stock, valued at approximately $9,064,469.40. The disclosure for this sale can be found here. Insiders have sold 60,166 shares of company stock valued at $7,081,793 over the last quarter. Corporate insiders own 27.80% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Zions Bancorporation N.A. lifted its stake in VMware by 140.2% in the first quarter. Zions Bancorporation N.A. now owns 233 shares of the virtualization software provider’s stock valued at $27,000 after acquiring an additional 136 shares during the last quarter. Covestor Ltd grew its stake in VMware by 31.0% in the 1st quarter. Covestor Ltd now owns 651 shares of the virtualization software provider’s stock valued at $74,000 after buying an additional 154 shares during the last quarter. Tobam raised its holdings in VMware by 111.3% in the 4th quarter. Tobam now owns 674 shares of the virtualization software provider’s stock valued at $78,000 after acquiring an additional 355 shares during the period. Brown Brothers Harriman & Co. grew its position in shares of VMware by 3,733.3% in the first quarter. Brown Brothers Harriman & Co. now owns 1,150 shares of the virtualization software provider’s stock valued at $131,000 after purchasing an additional 1,120 shares during the last quarter. Finally, Synovus Financial Corp acquired a new position in shares of VMware in the fourth quarter valued at approximately $202,000. Institutional investors and hedge funds own 47.04% of the company’s stock.

About VMware (Get Rating)

VMware, Inc provides software solutions in the areas of modern applications, cloud management and infrastructure, networking, security, and digital workspaces in the United States and internationally. It offers VMware multi-cloud solutions, including VMware vSphere, a data center infrastructure that provides the fundamental compute layer; vSAN and VxRail, which offers holistic data storage and protection options to applications running on vSphere; and vRealize Cloud Management solutions that manages hybrid and multi-cloud environments running in virtual machines and containers, as well as VMware Cloud Foundation, a cloud platform that combines its vSphere, vSAN, and NSX with vRealize Cloud Management into an integrated stack and delivers enterprise-ready cloud infrastructure for private and public clouds.

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Earnings History for VMware (NYSE:VMW)

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