VMware, Inc. to Post FY2021 Earnings of $5.58 Per Share, Gabelli Forecasts (VMW)

VMware, Inc. (NYSE:VMW) – Analysts at Gabelli lifted their FY2021 earnings per share estimates for VMware in a research report issued to clients and investors on Wednesday, March 13th. Gabelli analyst H. Susanto now forecasts that the virtualization software provider will post earnings of $5.58 per share for the year, up from their prior estimate of $5.55.

A number of other equities analysts have also weighed in on VMW. Maxim Group restated a “hold” rating and issued a $155.00 price objective (up from $150.00) on shares of VMware in a report on Friday, November 30th. Wedbush restated an “outperform” rating and issued a $200.00 price objective on shares of VMware in a report on Friday, November 30th. Jefferies Financial Group boosted their price objective on shares of VMware from $186.00 to $196.00 and gave the stock a “buy” rating in a report on Friday, November 30th. Raymond James boosted their price objective on shares of VMware from $174.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, November 30th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $145.00 target price (up previously from $142.00) on shares of VMware in a research report on Friday, November 30th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $179.61.

Shares of NYSE VMW opened at $181.56 on Friday. VMware has a twelve month low of $117.61 and a twelve month high of $183.40. The company has a market capitalization of $74.42 billion, a P/E ratio of 36.83, a PEG ratio of 2.76 and a beta of 0.76. The company has a quick ratio of 3.04, a current ratio of 3.04 and a debt-to-equity ratio of 0.39.

VMware (NYSE:VMW) last announced its quarterly earnings data on Thursday, February 28th. The virtualization software provider reported $1.98 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.10. VMware had a net margin of 26.99% and a return on equity of 19.46%. During the same period last year, the company posted $1.68 earnings per share.

Several hedge funds have recently modified their holdings of the company. American Century Companies Inc. grew its position in shares of VMware by 1.6% during the 4th quarter. American Century Companies Inc. now owns 419,192 shares of the virtualization software provider’s stock valued at $57,484,000 after acquiring an additional 6,443 shares during the period. Norges Bank purchased a new position in shares of VMware during the 4th quarter valued at $84,157,000. Dimensional Fund Advisors LP lifted its stake in shares of VMware by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 106,875 shares of the virtualization software provider’s stock valued at $14,674,000 after buying an additional 1,364 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in shares of VMware by 1.3% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 14,138 shares of the virtualization software provider’s stock valued at $1,939,000 after buying an additional 187 shares in the last quarter. Finally, FMR LLC lifted its stake in shares of VMware by 398.9% during the 4th quarter. FMR LLC now owns 136,053 shares of the virtualization software provider’s stock valued at $18,657,000 after buying an additional 108,780 shares in the last quarter. 17.82% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Patrick P. Gelsinger sold 21,086 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $178.74, for a total transaction of $3,768,911.64. Following the completion of the sale, the chief executive officer now owns 277,920 shares of the company’s stock, valued at approximately $49,675,420.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Rangarajan (Raghu) Raghuram sold 36,311 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $170.24, for a total transaction of $6,181,584.64. Following the sale, the chief operating officer now directly owns 304,104 shares of the company’s stock, valued at approximately $51,770,664.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 145,921 shares of company stock valued at $23,111,768. 29.90% of the stock is currently owned by insiders.

About VMware

VMware, Inc provides compute, cloud, mobility, networking, and security infrastructure software to businesses in the United States and internationally. The company offers compute products, including VMware vSphere, a data center platform, which enables users to deploy hypervisor, a layer of software that resides between the operating system and system hardware to enable compute virtualization; storage and availability products that provide data storage and protection options; network and security products; and cloud management and automation products to manage and automate overarching IT processes involved in provisioning IT services and resources to users from initial infrastructure deployment to retirement.

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Earnings History and Estimates for VMware (NYSE:VMW)

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