Analysts expect Symantec Co. (NASDAQ:SYMC) to post $0.33 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Symantec’s earnings, with estimates ranging from $0.31 to $0.34. Symantec also posted earnings of $0.33 per share in the same quarter last year. The firm is expected to announce its next earnings results on Wednesday, August 1st.
On average, analysts expect that Symantec will report full year earnings of $1.57 per share for the current fiscal year, with EPS estimates ranging from $1.46 to $1.69. For the next fiscal year, analysts forecast that the firm will report earnings of $1.77 per share, with EPS estimates ranging from $1.55 to $2.00. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for Symantec.
Symantec (NASDAQ:SYMC) last posted its quarterly earnings data on Thursday, May 10th. The technology company reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.07. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Symantec had a return on equity of 16.24% and a net margin of 23.98%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.28 earnings per share.
Several analysts recently commented on the company. Morgan Stanley dropped their price target on Symantec from $26.00 to $23.00 and set an “equal weight” rating for the company in a research report on Monday, June 25th. Jefferies Financial Group dropped their price target on Symantec to $20.00 and set an “underperform” rating for the company in a research report on Friday, May 11th. Goldman Sachs Group cut Symantec from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 16th. Zacks Investment Research cut Symantec from a “hold” rating to a “sell” rating in a research report on Tuesday, April 3rd. Finally, BTIG Research cut Symantec from a “buy” rating to a “neutral” rating in a research report on Friday, May 11th. Five investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $27.60.
In other Symantec news, EVP Scott C. Taylor sold 41,284 shares of the business’s stock in a transaction on Monday, April 16th. The stock was sold at an average price of $27.61, for a total transaction of $1,139,851.24. Following the transaction, the executive vice president now owns 188,426 shares of the company’s stock, valued at $5,202,441.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Glen Harbor Capital Management LLC boosted its stake in Symantec by 3.1% during the first quarter. Glen Harbor Capital Management LLC now owns 61,842 shares of the technology company’s stock worth $1,599,000 after buying an additional 1,848 shares during the last quarter. Riverhead Capital Management LLC lifted its stake in shares of Symantec by 3.2% in the 1st quarter. Riverhead Capital Management LLC now owns 67,971 shares of the technology company’s stock valued at $1,757,000 after purchasing an additional 2,097 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Symantec by 20.7% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 13,909 shares of the technology company’s stock valued at $360,000 after purchasing an additional 2,384 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Symantec by 1.5% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 184,063 shares of the technology company’s stock valued at $4,758,000 after purchasing an additional 2,672 shares during the last quarter. Finally, Cerebellum GP LLC lifted its stake in shares of Symantec by 47.9% in the 2nd quarter. Cerebellum GP LLC now owns 8,295 shares of the technology company’s stock valued at $171,000 after purchasing an additional 2,685 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors.
Shares of Symantec traded up $0.13, reaching $21.28, on Friday, MarketBeat Ratings reports. The company’s stock had a trading volume of 4,551,204 shares, compared to its average volume of 7,886,932. The stock has a market capitalization of $13.15 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 3.23 and a beta of 0.83. Symantec has a 52-week low of $18.85 and a 52-week high of $34.20. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.11 and a quick ratio of 1.15.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 20th. Shareholders of record on Friday, June 8th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Thursday, June 7th. Symantec’s dividend payout ratio (DPR) is currently 31.58%.
Symantec Company Profile
Symantec Corporation, together with its subsidiaries, provides cybersecurity solutions worldwide. It operates through two segments, Consumer Digital Safety and Enterprise Security. The Consumer Digital Safety segment provides Norton-branded services that provide multi-layer security services across desktop and mobile operating systems, public Wi-Fi connections, and home networks to defend against online threats to individuals, families, and small businesses.
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