Equities analysts expect Symantec Corporation (NASDAQ:SYMC) to report $1.26 billion in sales for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Symantec’s earnings. The highest sales estimate is $1.27 billion and the lowest is $1.26 billion. Symantec posted sales of $1.04 billion in the same quarter last year, which suggests a positive year over year growth rate of 21.2%. The business is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, February 7th.

According to Zacks, analysts expect that Symantec will report full year sales of $1.26 billion for the current fiscal year, with estimates ranging from $4.99 billion to $5.09 billion. For the next fiscal year, analysts expect that the business will report sales of $5.17 billion per share, with estimates ranging from $5.05 billion to $5.29 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Symantec.

Symantec (NASDAQ:SYMC) last announced its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.14. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.27 billion. Symantec had a positive return on equity of 12.33% and a negative net margin of 5.29%. Symantec’s quarterly revenue was up 25.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 earnings per share.

A number of brokerages recently issued reports on SYMC. BidaskClub lowered Symantec from a “sell” rating to a “strong sell” rating in a report on Saturday. Zacks Investment Research upgraded Symantec from a “sell” rating to a “hold” rating in a report on Tuesday, January 2nd. Deutsche Bank began coverage on Symantec in a report on Tuesday, December 19th. They issued a “hold” rating and a $30.00 price target for the company. Stifel Nicolaus reiterated a “hold” rating and issued a $27.00 price target on shares of Symantec in a report on Friday, November 3rd. Finally, Morgan Stanley lowered their price target on Symantec from $34.00 to $31.00 and set an “equal weight” rating for the company in a report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $32.29.

Shares of Symantec (SYMC) traded up $0.05 during midday trading on Friday, hitting $28.82. The company had a trading volume of 10,488,351 shares, compared to its average volume of 5,460,000. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.72. The stock has a market capitalization of $17,870.00, a price-to-earnings ratio of -49.69, a price-to-earnings-growth ratio of 2.91 and a beta of 1.07. Symantec has a 12-month low of $25.64 and a 12-month high of $34.20.

In other news, CFO Nicholas R. Noviello sold 375,000 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $29.38, for a total transaction of $11,017,500.00. Following the transaction, the chief financial officer now directly owns 565,319 shares of the company’s stock, valued at $16,609,072.22. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Francis C. Rosch sold 57,103 shares of the company’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $27.42, for a total value of $1,565,764.26. Following the transaction, the executive vice president now directly owns 325,026 shares in the company, valued at $8,912,212.92. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its position in shares of Symantec by 7.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,982 shares of the technology company’s stock worth $112,000 after purchasing an additional 292 shares in the last quarter. Sun Life Financial INC increased its position in shares of Symantec by 44,100.0% during the second quarter. Sun Life Financial INC now owns 4,420 shares of the technology company’s stock worth $125,000 after purchasing an additional 4,410 shares in the last quarter. Harfst & Associates Inc. acquired a new position in shares of Symantec during the second quarter worth $127,000. United Bank Inc. acquired a new position in shares of Symantec during the third quarter worth $200,000. Finally, Jaffetilchin Investment Partners LLC acquired a new position in shares of Symantec during the third quarter worth $225,000. 94.74% of the stock is currently owned by institutional investors and hedge funds.

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Symantec Company Profile

Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection and cyber security services. 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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Earnings History and Estimates for Symantec (NASDAQ:SYMC)

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