$0.44 Earnings Per Share Expected for Symantec Corporation (SYMC) This Quarter

Equities research analysts expect that Symantec Corporation (NASDAQ:SYMC) will post $0.44 earnings per share (EPS) for the current quarter, according to Zacks. Nine analysts have issued estimates for Symantec’s earnings. The lowest EPS estimate is $0.42 and the highest is $0.45. Symantec reported earnings per share of $0.32 in the same quarter last year, which would suggest a positive year over year growth rate of 37.5%. The company is scheduled to announce its next earnings report on Wednesday, February 7th.

On average, analysts expect that Symantec will report full-year earnings of $1.68 per share for the current year, with EPS estimates ranging from $1.60 to $1.71. For the next financial year, analysts expect that the business will post earnings of $1.90 per share, with EPS estimates ranging from $1.77 to $2.08. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Symantec.

Symantec (NASDAQ:SYMC) last released its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.14. The company 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%. The firm’s revenue for the quarter was up 25.7% compared to the same quarter last year. During the same period last year, the firm earned $0.30 EPS.

Several equities 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 target for the company. in a report on Monday, October 9th. Standpoint Research downgraded shares of Symantec from a “buy” rating to a “hold” rating in a report on Monday, October 9th. Morgan Stanley downgraded shares of Symantec from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $37.00 to $34.00 in a report on Tuesday, October 10th. Finally, Piper Jaffray Companies set a $40.00 price target on shares of Symantec and gave the company a “buy” rating in a report on Sunday, October 15th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $32.29.

In other news, EVP Francis C. Rosch sold 57,103 shares of Symantec stock in a transaction that occurred 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 sale, the executive vice president now owns 325,026 shares in the company, valued at approximately $8,912,212.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Nicholas R. Noviello sold 375,000 shares of Symantec stock in a transaction that occurred 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 sale, 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. Company insiders own 1.30% of the company’s stock.

Several large investors have recently modified their holdings of SYMC. Cambridge Investment Research Advisors Inc. grew its position in shares of Symantec by 19.5% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 16,800 shares of the technology company’s stock worth $475,000 after buying an additional 2,737 shares during the period. JPMorgan Chase & Co. grew its position in shares of Symantec by 23.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,102,839 shares of the technology company’s stock worth $59,406,000 after buying an additional 396,981 shares during the period. Private Advisor Group LLC grew its position in shares of Symantec by 18.4% during the 2nd quarter. Private Advisor Group LLC now owns 12,666 shares of the technology company’s stock worth $367,000 after buying an additional 1,969 shares during the period. Aberdeen Asset Management PLC UK grew its position in shares of Symantec by 33.0% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 214,839 shares of the technology company’s stock worth $6,069,000 after buying an additional 53,335 shares during the period. Finally, Alliancebernstein L.P. grew its position in shares of Symantec by 7.2% during the 2nd quarter. Alliancebernstein L.P. now owns 1,173,589 shares of the technology company’s stock worth $33,154,000 after buying an additional 79,297 shares during the period. Institutional investors own 94.74% of the company’s stock.

Symantec (NASDAQ SYMC) opened at $28.66 on Thursday. Symantec has a 1-year low of $25.05 and a 1-year high of $34.20. The stock has a market cap of $17,770.00, a PE ratio of -49.41, a P/E/G ratio of 2.98 and a beta of 1.07. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.72.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 13th. Shareholders of record on Monday, November 20th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend was Friday, November 17th. Symantec’s payout ratio is presently -51.72%.

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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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