Symantec Corporation (NASDAQ:SYMC) – Equities research analysts at Jefferies Group lowered their Q2 2018 earnings per share (EPS) estimates for Symantec Corporation in a research note issued to investors on Thursday. Jefferies Group analyst J. Difucci now anticipates that the technology company will post earnings of $0.17 per share for the quarter, down from their prior forecast of $0.18. Jefferies Group has a “Hold” rating and a $31.00 price target on the stock.

Symantec Corporation (NASDAQ:SYMC) last announced its quarterly 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 positive return on equity of 10.73% and a negative net margin of 8.68%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the company earned $0.29 earnings per share. The company’s revenue for the quarter was up 38.9% compared to the same quarter last year.

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Other research analysts have also issued reports about the company. UBS AG lowered Symantec Corporation from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $31.00 to $33.00 in a research report on Thursday, May 18th. Robert W. Baird reissued a “hold” rating on shares of Symantec Corporation in a research report on Saturday, June 10th. Evercore ISI set a $25.00 price objective on Symantec Corporation and gave the stock a “hold” rating in a research report on Saturday, June 10th. Zacks Investment Research raised Symantec Corporation from a “strong sell” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Tuesday, July 11th. Finally, Barclays PLC reissued an “overweight” rating and issued a $36.00 price objective (down from $38.00) on shares of Symantec Corporation in a research report on Thursday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and fourteen have issued a buy rating to the stock. Symantec Corporation presently has an average rating of “Hold” and an average price target of $31.00.

A number of institutional investors have recently bought and sold shares of SYMC. Westpac Banking Corp increased its position in Symantec Corporation by 69.2% in the first quarter. Westpac Banking Corp now owns 60,637 shares of the technology company’s stock valued at $1,115,000 after buying an additional 24,805 shares during the last quarter. Telemus Capital LLC increased its position in Symantec Corporation by 14.7% in the first quarter. Telemus Capital LLC now owns 32,375 shares of the technology company’s stock valued at $993,000 after buying an additional 4,155 shares during the last quarter. Kwmg LLC increased its position in Symantec Corporation by 61.0% in the first quarter. Kwmg LLC now owns 56,378 shares of the technology company’s stock valued at $1,730,000 after buying an additional 21,367 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in Symantec Corporation by 76.5% in the first quarter. BNP Paribas Arbitrage SA now owns 513,068 shares of the technology company’s stock valued at $15,741,000 after buying an additional 222,455 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its position in Symantec Corporation by 1.5% in the first quarter. Municipal Employees Retirement System of Michigan now owns 20,120 shares of the technology company’s stock valued at $617,000 after buying an additional 290 shares during the last quarter. Institutional investors and hedge funds own 93.82% of the company’s stock.

In other news, Director Suzanne M. Vautrinot sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $28.45, for a total value of $71,125.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Francis C. Rosch sold 47,344 shares of the company’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $30.18, for a total value of $1,428,841.92. Following the completion of the transaction, the executive vice president now owns 193,054 shares in the company, valued at approximately $5,826,369.72. The disclosure for this sale can be found here. Insiders sold a total of 188,943 shares of company stock worth $5,766,330 in the last 90 days. Company insiders own 0.76% of the company’s stock.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 21st will be paid a $0.075 dividend. The ex-dividend date is Thursday, August 17th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.03%. Symantec Corporation’s payout ratio is presently -49.18%.

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.

Earnings History and Estimates for Symantec Corporation (NASDAQ:SYMC)

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