Jefferies Group Weighs in on Symantec Corporation’s FY2018 Earnings (SYMC)

Symantec Corporation (NASDAQ:SYMC) – Stock analysts at Jefferies Group decreased their FY2018 EPS estimates for Symantec in a research report issued to clients and investors on Thursday. Jefferies Group analyst J. Difucci now expects that the technology company will earn $0.89 per share for the year, down from their previous forecast of $0.90. Jefferies Group currently has a “Underperform” rating on the stock. Jefferies Group also issued estimates for Symantec’s Q4 2018 earnings at $0.27 EPS.

SYMC has been the subject of several other research reports. BidaskClub lowered shares of Symantec from a “hold” rating to a “sell” rating in a research note on Tuesday, December 19th. Zacks Investment Research upgraded shares of Symantec from a “sell” rating to a “hold” rating in a research note on Tuesday, January 2nd. Deutsche Bank assumed coverage on shares of Symantec in a research note on Tuesday, December 19th. They issued a “hold” rating and a $30.00 target price for the company. Morgan Stanley reduced their target price on shares of Symantec from $34.00 to $31.00 and set an “equal weight” rating for the company in a research note on Friday, November 3rd. Finally, Evercore ISI reiterated a “hold” rating and issued a $25.00 target price on shares of Symantec in a research note on Thursday, November 2nd. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the stock. Symantec presently has an average rating of “Hold” and an average target price of $32.29.

Symantec (NASDAQ:SYMC) traded down $0.27 during midday trading on Friday, hitting $27.25. 12,557,301 shares of the stock traded hands, compared to its average volume of 7,347,042. Symantec has a 12-month low of $25.65 and a 12-month high of $34.20. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $16,850.00, a price-to-earnings ratio of -46.98, a price-to-earnings-growth ratio of 2.78 and a beta of 1.07.

Symantec (NASDAQ:SYMC) last released its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.14. Symantec had a negative net margin of 5.29% and a positive return on equity of 12.33%. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the company posted $0.30 earnings per share. The business’s revenue was up 25.7% on a year-over-year basis.

In other Symantec news, EVP Francis C. Rosch sold 57,103 shares of the stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $27.42, for a total transaction of $1,565,764.26. Following the completion of the transaction, the executive vice president now owns 325,026 shares in the company, valued at $8,912,212.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Nicholas R. Noviello sold 375,000 shares of the stock in a transaction dated 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 owns 565,319 shares of the company’s stock, valued at approximately $16,609,072.22. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of SYMC. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Symantec by 7.9% in the second 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 in the last quarter. Sun Life Financial INC lifted its holdings in shares of Symantec by 44,100.0% in the second quarter. Sun Life Financial INC now owns 4,420 shares of the technology company’s stock worth $125,000 after buying an additional 4,410 shares in the last quarter. Harfst & Associates Inc. purchased a new stake in shares of Symantec in the second quarter worth about $127,000. United Bank Inc. purchased a new stake in shares of Symantec in the third quarter worth about $200,000. Finally, Roundview Capital LLC purchased a new stake in shares of Symantec in the second quarter worth about $222,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

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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.

Earnings History and Estimates for Symantec (NASDAQ:SYMC)

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