Symantec Corporation (SYMC) Expected to Post Earnings of $0.43 Per Share
Wall Street analysts predict that Symantec Corporation (NASDAQ:SYMC) will post earnings of $0.43 per share for the current quarter, Zacks reports. Seven analysts have provided estimates for Symantec Corporation’s earnings, with estimates ranging from $0.42 to $0.44. Symantec Corporation posted earnings of $0.30 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 43.3%. The business is scheduled to announce its next quarterly earnings results after the market closes on Thursday, November 2nd.
According to Zacks, analysts expect that Symantec Corporation will report full year earnings of $1.81 per share for the current fiscal year, with EPS estimates ranging from $1.71 to $1.84. For the next fiscal year, analysts forecast that the firm will post earnings of $2.02 per share, with EPS estimates ranging from $1.95 to $2.08. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow Symantec Corporation.
Symantec Corporation (NASDAQ:SYMC) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.03. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.20 billion. Symantec Corporation had a negative net margin of 8.68% and a positive return on equity of 10.73%. The company’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.29 earnings per share.
A number of research analysts have recently issued reports on the company. Barclays PLC reiterated an “overweight” rating and set a $36.00 target price (down previously from $38.00) on shares of Symantec Corporation in a research report on Thursday, August 3rd. Robert W. Baird reiterated a “hold” rating and set a $32.00 target price on shares of Symantec Corporation in a research report on Friday, September 8th. Royal Bank Of Canada reiterated a “hold” rating and set a $32.00 target price on shares of Symantec Corporation in a research report on Monday, July 31st. BidaskClub upgraded Symantec Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. Finally, Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $35.00 target price (up previously from $33.00) on shares of Symantec Corporation in a research report on Friday, August 4th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $31.52.
In related news, Director Suzanne M. Vautrinot sold 2,500 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $32.81, for a total transaction of $82,025.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Scott C. Taylor sold 15,000 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $31.04, for a total value of $465,600.00. Following the sale, the executive vice president now directly owns 257,591 shares of the company’s stock, valued at $7,995,624.64. The disclosure for this sale can be found here. Insiders sold a total of 1,660,816 shares of company stock valued at $48,376,729 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Capital World Investors increased its position in shares of Symantec Corporation by 3.7% during the 2nd quarter. Capital World Investors now owns 75,819,338 shares of the technology company’s stock worth $2,141,896,000 after purchasing an additional 2,695,567 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Symantec Corporation by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 61,195,217 shares of the technology company’s stock worth $1,728,766,000 after purchasing an additional 757,092 shares during the last quarter. BlackRock Inc. increased its position in shares of Symantec Corporation by 2,815.1% during the 1st quarter. BlackRock Inc. now owns 40,975,309 shares of the technology company’s stock worth $1,257,121,000 after purchasing an additional 39,569,694 shares during the last quarter. State Street Corp increased its position in shares of Symantec Corporation by 1.7% during the 1st quarter. State Street Corp now owns 27,978,710 shares of the technology company’s stock worth $858,386,000 after purchasing an additional 464,913 shares during the last quarter. Finally, Jackson Square Partners LLC increased its position in shares of Symantec Corporation by 5.0% during the 2nd quarter. Jackson Square Partners LLC now owns 20,071,586 shares of the technology company’s stock worth $567,022,000 after purchasing an additional 964,537 shares during the last quarter. 91.54% of the stock is owned by hedge funds and other institutional investors.
Symantec Corporation (NASDAQ SYMC) traded down 0.850% during midday trading on Wednesday, hitting $32.085. 1,322,936 shares of the stock traded hands. The company’s 50 day moving average price is $32.23 and its 200 day moving average price is $30.54. The firm’s market cap is $19.66 billion. Symantec Corporation has a 12 month low of $22.76 and a 12 month high of $34.20.
Symantec Corporation Company Profile
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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