Symantec Corporation (SYMC) Announces Quarterly Earnings Results
Symantec Corporation (NASDAQ:SYMC) announced its quarterly earnings data on Wednesday. The technology company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.26 by $0.14, Bloomberg Earnings reports. Symantec Corporation had a negative net margin of 8.68% and a positive return on equity of 10.73%. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the business posted $0.30 EPS. The business’s quarterly revenue was up 25.7% compared to the same quarter last year. Symantec Corporation updated its Q3 guidance to $0.42-0.46 EPS and its FY18 guidance to $1.66-1.76 EPS.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Monday, November 20th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.92%. Symantec Corporation’s payout ratio is presently -49.18%.
Several analysts have commented on the stock. Barclays PLC restated an “overweight” rating and set a $36.00 price objective (down from $38.00) on shares of Symantec Corporation in a research note on Thursday, August 3rd. Robert W. Baird restated a “hold” rating and set a $32.00 price objective on shares of Symantec Corporation in a research note on Friday, September 8th. Royal Bank Of Canada restated a “hold” rating and set a $32.00 price objective on shares of Symantec Corporation in a research note on Monday, July 31st. BidaskClub upgraded shares of Symantec Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $35.00 price objective (up from $33.00) on shares of Symantec Corporation in a research note on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $31.58.
In other Symantec Corporation news, Director Anita M. Sands sold 2,000 shares of the firm’s stock in a transaction on 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 owns 37,386 shares of the company’s stock, valued at $1,252,804.86. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Suzanne M. Vautrinot sold 2,500 shares of the firm’s stock in a transaction 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. In the last three months, insiders sold 1,645,816 shares of company stock valued at $47,911,129. 1.30% of the stock is owned by corporate insiders.
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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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