Symantec Corporation (SYMC) Set to Announce Earnings on Wednesday
Symantec Corporation (NASDAQ:SYMC) will post its quarterly earnings results after the market closes on Wednesday, November 1st. Analysts expect Symantec Corporation to post earnings of $0.43 per share for the quarter. Symantec Corporation has set its Q2 guidance at $0.40-0.44 EPS and its FY18 guidance at $1.79-1.89 EPS.
Symantec Corporation (NASDAQ:SYMC) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Symantec Corporation had a negative net margin of 8.68% and a positive return on equity of 10.73%. The business’s quarterly revenue was up 38.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.29 earnings per share. On average, analysts expect Symantec Corporation to post $1.80 EPS for the current fiscal year and $2.03 EPS for the next fiscal year.
Shares of Symantec Corporation (NASDAQ:SYMC) opened at 32.36 on Wednesday. The firm’s market cap is $19.83 billion. Symantec Corporation has a 12 month low of $22.76 and a 12 month high of $34.20. The stock’s 50 day moving average is $32.56 and its 200 day moving average is $30.63.
In related news, SVP Amy L. Cappellanti-Wolf sold 2,163 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was 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 of the company’s stock, valued at approximately $3,462,510.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Suzanne M. Vautrinot sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $32.81, for a total value of $82,025.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,645,816 shares of company stock worth $47,911,129. Corporate insiders own 1.30% of the company’s stock.
SYMC has been the subject of a number of research reports. Standpoint Research upgraded Symantec Corporation from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Zacks Investment Research upgraded Symantec Corporation from a “strong sell” rating to a “buy” rating and set a $32.00 target price for the company in a report on Tuesday, July 11th. BidaskClub upgraded Symantec Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Morgan Stanley reiterated an “overweight” rating and set a $37.00 target price on shares of Symantec Corporation in a report on Thursday, July 13th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $27.00 target price on shares of Symantec Corporation in a report on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $31.52.
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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