Brokerages Expect Symantec Corporation (SYMC) Will Announce Earnings of $0.43 Per Share
Brokerages expect Symantec Corporation (NASDAQ:SYMC) to report earnings per share of $0.43 for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Symantec Corporation’s earnings, with the lowest EPS estimate coming in at $0.42 and the highest estimate coming in at $0.44. Symantec Corporation reported earnings per share of $0.30 during the same quarter last year, which indicates a positive year-over-year growth rate of 43.3%. The company is expected to issue its next earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that Symantec Corporation will report full year earnings of $1.82 per share for the current fiscal year, with EPS estimates ranging from $1.79 to $1.84. For the next financial year, analysts forecast that the business will post earnings of $2.04 per share, with EPS estimates ranging from $1.95 to $2.12. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow Symantec Corporation.
Symantec Corporation (NASDAQ:SYMC) last announced its earnings results on Wednesday, August 2nd. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.03. Symantec Corporation had a negative net margin of 8.68% and a positive return on equity of 10.73%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the company posted $0.29 EPS. The firm’s quarterly revenue was up 38.9% on a year-over-year basis.
A number of research analysts have recently weighed in on the company. Evercore ISI set a $25.00 price target on Symantec Corporation and gave the company a “hold” rating in a research report on Saturday, June 10th. Robert W. Baird restated a “hold” rating on shares of Symantec Corporation in a research report on Saturday, June 10th. Barclays PLC restated an “overweight” rating and issued a $36.00 price target (down previously from $38.00) on shares of Symantec Corporation in a research report on Wednesday, August 9th. Zacks Investment Research cut Symantec Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, BidaskClub cut Symantec Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, August 5th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have given a buy rating to the company’s stock. Symantec Corporation currently has an average rating of “Hold” and a consensus target price of $31.54.
In other Symantec Corporation news, SVP Amy L. Cappellanti-Wolf sold 2,163 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $29.85, for a total value of $64,565.55. Following the sale, the senior vice president now directly owns 115,997 shares of the company’s stock, valued at approximately $3,462,510.45. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Anita M. Sands sold 2,000 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $33.51, for a total value of $67,020.00. Following the completion of the sale, the director now directly owns 37,386 shares in the company, valued at $1,252,804.86. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,679,228 shares of company stock worth $48,889,078. 1.30% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. Ardsley Advisory Partners acquired a new stake in Symantec Corporation in the 2nd quarter worth about $424,000. WINTON GROUP Ltd boosted its stake in Symantec Corporation by 884.0% in the 2nd quarter. WINTON GROUP Ltd now owns 400,288 shares of the technology company’s stock worth $11,308,000 after buying an additional 359,607 shares during the last quarter. Verition Fund Management LLC acquired a new stake in Symantec Corporation in the 2nd quarter worth about $795,000. Martin & Co. Inc. TN boosted its stake in Symantec Corporation by 0.8% in the 2nd quarter. Martin & Co. Inc. TN now owns 207,285 shares of the technology company’s stock worth $5,856,000 after buying an additional 1,575 shares during the last quarter. Finally, Scotia Capital Inc. boosted its stake in Symantec Corporation by 5.5% in the 2nd quarter. Scotia Capital Inc. now owns 26,613 shares of the technology company’s stock worth $752,000 after buying an additional 1,385 shares during the last quarter. 91.65% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Symantec Corporation (SYMC) traded down 0.06% during midday trading on Friday, reaching $33.02. 4,274,372 shares of the company’s stock traded hands. Symantec Corporation has a 52 week low of $22.76 and a 52 week high of $34.17. The company’s market capitalization is $20.23 billion. The stock’s 50 day moving average is $30.14 and its 200-day moving average is $30.21.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders of record on Monday, August 21st were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date was Thursday, August 17th. Symantec Corporation’s payout ratio is -49.18%.
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About Symantec Corporation
Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security.Cloud, Data Center Security and Cloud Workload Protection products.
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