Symantec (SYMC) Announces Quarterly Earnings Results

Symantec (NASDAQ:SYMC) announced its earnings results on Thursday. The technology company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.33 by $0.09, RTT News reports. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.14 billion. Symantec had a net margin of 25.52% and a return on equity of 14.54%. The business’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period last year, the company posted $0.40 EPS.

Shares of SYMC traded up $0.58 during mid-day trading on Thursday, hitting $18.73. 10,980,400 shares of the company’s stock were exchanged, compared to its average volume of 8,280,013. The stock has a market capitalization of $11.29 billion, a P/E ratio of 19.72, a P/E/G ratio of 2.49 and a beta of 0.67. Symantec has a 52 week low of $17.49 and a 52 week high of $30.23.

Several analysts have commented on SYMC shares. BidaskClub upgraded shares of Symantec from a “hold” rating to a “buy” rating in a report on Friday, July 6th. Zacks Investment Research upgraded shares of Symantec from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 10th. Bank of America dropped their target price on shares of Symantec from $21.00 to $19.00 and set an “underperform” rating on the stock in a report on Monday, July 30th. Evercore ISI restated a “hold” rating and set a $22.00 target price on shares of Symantec in a report on Friday, August 3rd. Finally, Stifel Nicolaus dropped their target price on shares of Symantec from $21.00 to $19.00 and set a “hold” rating on the stock in a report on Friday, August 3rd. Three analysts have rated the stock with a sell rating, twenty have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $23.38.

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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Earnings History for Symantec (NASDAQ:SYMC)

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