Symantec (SYMC) to Release Quarterly Earnings on Wednesday

Symantec (NASDAQ:SYMC) is set to announce its earnings results after the market closes on Wednesday, January 31st. Analysts expect the company to announce earnings of $0.29 per share for the quarter. Symantec has set its Q3 guidance at $0.42-0.46 EPS and its FY18 guidance at $1.66-1.76 EPS.

Symantec (NASDAQ:SYMC) last posted its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.14. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.27 billion. Symantec had a negative net margin of 5.29% and a positive return on equity of 12.33%. Symantec’s quarterly revenue was up 25.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 EPS. On average, analysts expect Symantec to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Shares of Symantec (SYMC) opened at $26.61 on Wednesday. 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 stock has a market cap of $16,500.00, a price-to-earnings ratio of -45.88, a P/E/G ratio of 2.78 and a beta of 1.07. Symantec has a 1-year low of $25.65 and a 1-year high of $34.20.

In other news, CFO Nicholas R. Noviello sold 375,000 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $29.38, for a total value of $11,017,500.00. Following the completion of the transaction, the chief financial officer now owns 565,319 shares in the company, valued at approximately $16,609,072.22. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Francis C. Rosch sold 57,103 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $8,912,212.92. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Several analysts recently issued reports on SYMC shares. Zacks Investment Research downgraded shares of Symantec from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Cowen downgraded shares of Symantec from a “market perform” rating to an “underperform” rating and set a $31.00 price objective for the company. in a report on Monday, October 9th. Standpoint Research cut shares of Symantec from a “buy” rating to a “hold” rating in a research note on Monday, October 9th. Morgan Stanley cut shares of Symantec from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $37.00 to $34.00 in a research note on Tuesday, October 10th. Finally, Piper Jaffray Companies set a $40.00 target price on shares of Symantec and gave the company a “buy” rating in a research note on Sunday, October 15th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $31.71.

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About Symantec

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 for Symantec (NASDAQ:SYMC)

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