Vmware, Inc. (NYSE:VMW) issued an update on its FY18 earnings guidance on Thursday morning. The company provided earnings per share guidance of $5.08 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.01. The company issued revenue guidance of $7.8 billion, compared to the consensus revenue estimate of $7.74 billion.Vmware also updated its Q3 guidance to $1.25-1.28 EPS.
Vmware, Inc. (NYSE VMW) opened at 100.83 on Friday. The firm has a market cap of $41.18 billion, a P/E ratio of 36.30 and a beta of 0.77. Vmware, Inc. has a one year low of $71.42 and a one year high of $101.79. The stock has a 50 day moving average price of $92.93 and a 200-day moving average price of $91.90.
Vmware (NYSE:VMW) last announced its quarterly earnings results on Thursday, August 24th. The virtualization software provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.04. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion. Vmware had a return on equity of 17.19% and a net margin of 17.36%. The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 earnings per share. Analysts predict that Vmware, Inc. will post $5.01 EPS for the current fiscal year.
Vmware announced that its Board of Directors has approved a stock repurchase 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 purchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
Several analysts have recently commented on the company. Bank of America Corporation raised Vmware from a neutral rating to a buy rating in a research note on Friday. Stifel Nicolaus raised Vmware from a hold rating to a buy rating and increased their price objective for the stock from $96.00 to $109.00 in a research note on Wednesday, June 21st. Royal Bank Of Canada increased their price objective on Vmware from $97.00 to $110.00 and gave the stock an outperform rating in a research note on Wednesday, May 31st. Maxim Group reissued a hold rating and issued a $105.00 price objective on shares of Vmware in a research note on Friday. Finally, BTIG Research reissued a neutral rating on shares of Vmware in a research note on Saturday, June 3rd. Sixteen research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $102.58.
In other news, COO Rajiv Ramaswami sold 20,457 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $87.84, for a total value of $1,796,942.88. Following the sale, the chief operating officer now directly owns 313,721 shares of the company’s stock, valued at approximately $27,557,252.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Maurizio Carli sold 11,237 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $94.66, for a total value of $1,063,694.42. The disclosure for this sale can be found here. Insiders own 0.52% of the company’s stock.
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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