Analysts Expect Symantec Corporation (SYMC) to Post $0.40 Earnings Per Share

Wall Street brokerages predict that Symantec Corporation (NASDAQ:SYMC) will report $0.40 earnings per share for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Symantec’s earnings, with the highest EPS estimate coming in at $0.41 and the lowest estimate coming in at $0.39. Symantec posted earnings per share of $0.28 in the same quarter last year, which suggests a positive year over year growth rate of 42.9%. The firm is scheduled to report its next earnings results on Wednesday, May 9th.

On average, analysts expect that Symantec will report full year earnings of $1.63 per share for the current fiscal year, with EPS estimates ranging from $1.61 to $1.69. For the next year, analysts anticipate that the firm will post earnings of $1.82 per share, with EPS estimates ranging from $1.68 to $1.92. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Symantec.

Symantec (NASDAQ:SYMC) last announced its earnings results on Wednesday, January 31st. The technology company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. Symantec had a return on equity of 14.26% and a net margin of 22.24%. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the prior year, the business earned $0.32 earnings per share. The company’s revenue was up 13.4% on a year-over-year basis.

SYMC has been the subject of several research reports. BidaskClub cut Symantec from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 13th. Morgan Stanley reduced their price objective on Symantec from $34.00 to $31.00 and set an “equal weight” rating for the company in a research report on Friday, November 3rd. CIBC reissued an “outperform” rating and issued a $33.00 price objective (down from $35.00) on shares of Symantec in a research report on Thursday, November 2nd. Deutsche Bank initiated coverage on Symantec in a research report on Tuesday, December 19th. They issued a “hold” rating and a $30.00 price objective for the company. Finally, Zacks Investment Research raised Symantec from a “sell” rating to a “hold” rating in a research report on Tuesday, January 2nd. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the company. Symantec presently has a consensus rating of “Hold” and a consensus price target of $30.92.

In other Symantec news, EVP Francis C. Rosch sold 57,103 shares of the stock in a transaction on Wednesday, December 6th. The stock was 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 directly owns 325,026 shares in the company, valued at $8,912,212.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Delpha Capital Management LLC acquired a new position in Symantec during the fourth quarter worth $162,000. United Bank Inc. acquired a new position in Symantec during the third quarter worth $200,000. Genesee Valley Trust Co. acquired a new position in Symantec during the fourth quarter worth $209,000. Lenox Wealth Advisors Inc. acquired a new position in Symantec during the fourth quarter worth $224,000. Finally, Jaffetilchin Investment Partners LLC acquired a new position in Symantec during the third quarter worth $225,000. Hedge funds and other institutional investors own 94.40% of the company’s stock.

Shares of Symantec (SYMC) opened at $26.58 on Wednesday. Symantec has a 12-month low of $24.94 and a 12-month high of $34.20. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a market capitalization of $16,480.00, a P/E ratio of 18.08, a PEG ratio of 2.97 and a beta of 0.89.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 14th. Shareholders of record on Tuesday, February 20th will be paid a dividend of $0.075 per share. The ex-dividend date is Friday, February 16th. This represents a $0.30 annualized dividend and a yield of 1.13%. Symantec’s dividend payout ratio is currently 20.41%.

COPYRIGHT VIOLATION NOTICE: “Analysts Expect Symantec Corporation (SYMC) to Post $0.40 Earnings Per Share” was published by American Banking News and is the property of of American Banking News. If you are accessing this story on another website, it was illegally stolen and republished in violation of US & international copyright and trademark law. The correct version of this story can be read at https://www.americanbankingnews.com/2018/02/14/analysts-expect-symantec-corporation-symc-to-post-0-40-earnings-per-share.html.

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.

Get a free copy of the Zacks research report on Symantec (SYMC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Symantec (NASDAQ:SYMC)

Receive News & Ratings for Symantec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Symantec and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply