Analysts expect Symantec Co. (NASDAQ:SYMC) to report earnings of $0.42 per share for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have issued estimates for Symantec’s earnings. The highest EPS estimate is $0.43 and the lowest is $0.41. Symantec also posted earnings per share of $0.42 in the same quarter last year. The firm is scheduled to report its next earnings results after the market closes on Thursday, November 7th.
According to Zacks, analysts expect that Symantec will report full-year earnings of $1.72 per share for the current fiscal year, with EPS estimates ranging from $1.59 to $1.79. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.77 per share, with EPS estimates ranging from $0.92 to $2.08. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that cover Symantec.
Symantec (NASDAQ:SYMC) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.11. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Symantec had a return on equity of 14.94% and a net margin of 2.43%. The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.34 earnings per share.
A number of analysts have commented on SYMC shares. Argus restated a “hold” rating on shares of Symantec in a research report on Tuesday, August 13th. ValuEngine lowered Symantec from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Morgan Stanley raised Symantec from an “underweight” rating to an “equal weight” rating and set a $27.00 price objective for the company in a research note on Friday, August 9th. Evercore ISI set a $22.00 price objective on Symantec and gave the stock a “hold” rating in a research note on Friday, August 9th. Finally, Monness Crespi & Hardt assumed coverage on Symantec in a research note on Wednesday, July 10th. They issued a “neutral” rating for the company. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $22.82.
In other news, Director Peter A. Feld purchased 1,325,814 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was bought at an average cost of $22.95 per share, with a total value of $30,427,431.30. Following the completion of the purchase, the director now owns 24,685 shares in the company, valued at $566,520.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Samir Kapuria sold 9,674 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $23.47, for a total value of $227,048.78. Following the transaction, the executive vice president now directly owns 387,166 shares of the company’s stock, valued at $9,086,786.02. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. FinTrust Capital Advisors LLC boosted its stake in Symantec by 995.1% during the second quarter. FinTrust Capital Advisors LLC now owns 1,347 shares of the technology company’s stock valued at $29,000 after buying an additional 1,224 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in Symantec during the second quarter valued at approximately $39,000. CSat Investment Advisory L.P. boosted its stake in Symantec by 126.3% during the second quarter. CSat Investment Advisory L.P. now owns 2,123 shares of the technology company’s stock valued at $46,000 after buying an additional 1,185 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in Symantec during the second quarter valued at approximately $57,000. Finally, Rehmann Capital Advisory Group boosted its stake in Symantec by 98.9% during the second quarter. Rehmann Capital Advisory Group now owns 2,960 shares of the technology company’s stock valued at $64,000 after buying an additional 1,472 shares during the last quarter. 90.70% of the stock is owned by institutional investors.
SYMC traded up $0.07 during midday trading on Tuesday, reaching $23.15. The company had a trading volume of 2,123,566 shares, compared to its average volume of 6,881,514. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.79. The business has a 50-day moving average of $23.70 and a two-hundred day moving average of $22.52. The company has a market cap of $14.22 billion, a P/E ratio of 19.79, a P/E/G ratio of 3.21 and a beta of 1.29. Symantec has a 1 year low of $17.42 and a 1 year high of $26.07.
Symantec Company Profile
Symantec Corporation provides cybersecurity products, services, and solutions worldwide. The company operates through two segments, Enterprise Security and Consumer Digital Safety. The Enterprise Security segment provides endpoint and information protection products, including endpoint security, advanced threat protection, and information protection solutions and their related support services; and network and Web security products, such as network security, Web security, and cloud security solutions and their related support services.
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