Equities research analysts forecast that Symantec Co. (NASDAQ:SYMC) will report earnings per share of $0.39 for the current fiscal quarter, Zacks reports. Eleven analysts have provided estimates for Symantec’s earnings, with the highest EPS estimate coming in at $0.40 and the lowest estimate coming in at $0.36. Symantec reported earnings per share of $0.46 during the same quarter last year, which suggests a negative year-over-year growth rate of 15.2%. The company is expected to announce its next quarterly earnings report on Thursday, May 9th.
On average, analysts expect that Symantec will report full-year earnings of $1.59 per share for the current financial year, with EPS estimates ranging from $1.52 to $1.60. For the next year, analysts anticipate that the company will post earnings of $1.77 per share, with EPS estimates ranging from $1.60 to $1.81. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that cover Symantec.
Symantec (NASDAQ:SYMC) last posted its quarterly earnings results on Thursday, January 31st. The technology company reported $0.44 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.05. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. Symantec had a negative net margin of 0.86% and a positive return on equity of 13.24%. During the same period last year, the firm posted $0.49 earnings per share.
SYMC has been the topic of several research reports. ValuEngine downgraded shares of Symantec from a “buy” rating to a “hold” rating in a research note on Tuesday, December 25th. BidaskClub downgraded shares of Symantec from a “buy” rating to a “hold” rating in a research note on Tuesday, December 18th. Zacks Investment Research downgraded shares of Symantec from a “buy” rating to a “hold” rating in a research note on Saturday, February 2nd. Evercore ISI reissued a “hold” rating and issued a $22.00 price target on shares of Symantec in a research note on Monday, February 4th. Finally, Credit Suisse Group reaffirmed a “hold” rating and set a $23.00 target price on shares of Symantec in a research note on Friday, February 1st. Two equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and three have issued a buy rating to the company’s stock. Symantec currently has an average rating of “Hold” and a consensus price target of $22.49.
Shares of NASDAQ:SYMC traded down $0.73 during midday trading on Friday, hitting $22.86. The company’s stock had a trading volume of 3,580,727 shares, compared to its average volume of 4,058,044. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.75. The company has a market cap of $14.61 billion, a P/E ratio of 24.06, a P/E/G ratio of 2.57 and a beta of 1.09. Symantec has a 12-month low of $17.42 and a 12-month high of $29.20.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Tuesday, February 19th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Friday, February 15th. Symantec’s dividend payout ratio is presently 31.58%.
In other Symantec news, SVP Amy L. Cappellanti-Wolf sold 18,321 shares of Symantec stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $23.05, for a total transaction of $422,299.05. Following the completion of the sale, the senior vice president now directly owns 276,640 shares in the company, valued at $6,376,552. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Nicholas R. Noviello sold 332,155 shares of Symantec stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $22.50, for a total transaction of $7,473,487.50. Following the sale, the chief financial officer now owns 880,695 shares of the company’s stock, valued at $19,815,637.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 401,324 shares of company stock valued at $9,061,631. Company insiders own 1.90% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the business. American Century Companies Inc. increased its position in shares of Symantec by 4.4% during the fourth quarter. American Century Companies Inc. now owns 10,927 shares of the technology company’s stock valued at $206,000 after acquiring an additional 460 shares during the last quarter. Norges Bank acquired a new stake in shares of Symantec during the fourth quarter valued at about $97,166,000. Dimensional Fund Advisors LP grew its holdings in shares of Symantec by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,607,248 shares of the technology company’s stock valued at $30,367,000 after purchasing an additional 53,755 shares in the last quarter. FMR LLC grew its holdings in shares of Symantec by 44.1% in the fourth quarter. FMR LLC now owns 8,779,685 shares of the technology company’s stock valued at $165,892,000 after purchasing an additional 2,686,107 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Symantec in the fourth quarter valued at approximately $239,000. Institutional investors and hedge funds own 89.08% of the company’s stock.
Symantec Corporation provides cybersecurity products, services, and solutions worldwide. The company operates through two segments, Enterprise Security and Consumer Digital Safety. The Enterprise Security segment provides endpoint and information protection products, including endpoint security, advanced threat protection, and information protection solutions and their related support services; and network and Web security products, such as network security, Web security, and cloud security solutions and their related support services.
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