Symantec Corporation (SYMC) Expected to Post Earnings of $0.43 Per Share
Equities research analysts predict that Symantec Corporation (NASDAQ:SYMC) will announce earnings of $0.43 per share for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Symantec Corporation’s earnings, with the highest EPS estimate coming in at $0.44 and the lowest estimate coming in at $0.42. Symantec Corporation posted earnings per share of $0.30 during the same quarter last year, which would indicate a positive year over year growth rate of 43.3%. The business is expected to report its next quarterly earnings report 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 expect that the company will report earnings of $2.03 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 research firms that that provide coverage for Symantec Corporation.
Symantec Corporation (NASDAQ:SYMC) last posted its earnings results on Wednesday, August 2nd. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.20 billion. Symantec Corporation had a negative net margin of 8.68% and a positive return on equity of 10.73%. Symantec Corporation’s revenue was up 38.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.29 EPS.
A number of equities research analysts have commented on SYMC shares. Zacks Investment Research lowered shares of Symantec Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Moffett Nathanson started coverage on shares of Symantec Corporation in a report on Wednesday, September 6th. They set a “neutral” rating and a $33.00 price objective on the stock. Standpoint Research raised shares of Symantec Corporation from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Credit Suisse Group started coverage on shares of Symantec Corporation in a report on Tuesday, September 5th. They set an “outperform” rating and a $36.00 price objective on the stock. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $32.00 price objective on shares of Symantec Corporation in a report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $31.42.
In other Symantec Corporation news, SVP Amy L. Cappellanti-Wolf sold 2,163 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $29.85, for a total transaction of $64,565.55. Following the sale, the senior vice president now directly owns 115,997 shares in the company, valued at approximately $3,462,510.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael David Fey sold 1,348,831 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $28.84, for a total transaction of $38,900,286.04. Following the sale, the insider now owns 1,605,757 shares in the company, valued at $46,310,031.88. The disclosure for this sale can be found here. Insiders sold a total of 1,662,816 shares of company stock worth $48,437,529 over the last quarter. 1.30% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the business. Bessemer Group Inc. raised its holdings in Symantec Corporation by 1.2% during the 2nd quarter. Bessemer Group Inc. now owns 9,311 shares of the technology company’s stock worth $263,000 after buying an additional 106 shares during the period. Wetherby Asset Management Inc. raised its holdings in Symantec Corporation by 2.8% during the 2nd quarter. Wetherby Asset Management Inc. now owns 8,885 shares of the technology company’s stock worth $251,000 after buying an additional 246 shares during the period. Municipal Employees Retirement System of Michigan raised its holdings in Symantec Corporation by 1.5% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 20,120 shares of the technology company’s stock worth $617,000 after buying an additional 290 shares during the period. Blair William & Co. IL raised its holdings in Symantec Corporation by 2.2% during the 2nd quarter. Blair William & Co. IL now owns 13,309 shares of the technology company’s stock worth $376,000 after buying an additional 291 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Symantec Corporation by 7.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,982 shares of the technology company’s stock worth $112,000 after buying an additional 292 shares during the period. Hedge funds and other institutional investors own 91.65% of the company’s stock.
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Symantec Corporation (NASDAQ SYMC) traded up 0.079% on Wednesday, reaching $31.615. 2,191,743 shares of the company’s stock were exchanged. The firm’s market capitalization is $19.43 billion. Symantec Corporation has a 12 month low of $22.76 and a 12 month high of $34.20. The firm has a 50-day moving average of $31.91 and a 200-day moving average of $30.51.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Monday, August 21st were given a $0.075 dividend. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.95%. Symantec Corporation’s dividend payout ratio is -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.
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