Wall Street analysts expect Symantec Co. (NASDAQ:SYMC) to report earnings of $0.35 per share for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Symantec’s earnings, with the lowest EPS estimate coming in at $0.32 and the highest estimate coming in at $0.41. Symantec posted earnings per share of $0.34 in the same quarter last year, which would indicate a positive year over year growth rate of 2.9%. The company is expected to announce its next quarterly earnings report on Thursday, August 1st.
On average, analysts expect that Symantec will report full year earnings of $1.71 per share for the current fiscal year, with EPS estimates ranging from $1.59 to $1.81. For the next financial year, analysts expect that the company will post earnings of $1.86 per share, with EPS estimates ranging from $1.72 to $1.99. Zacks’ EPS calculations are an average based on a survey of research firms that follow Symantec.
Symantec (NASDAQ:SYMC) last announced its earnings results on Thursday, May 9th. The technology company reported $0.39 EPS for the quarter, meeting analysts’ consensus estimates of $0.39. Symantec had a net margin of 0.59% and a return on equity of 13.05%. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the prior year, the company earned $0.46 earnings per share. The business’s revenue was down 2.2% compared to the same quarter last year.
A number of brokerages have recently commented on SYMC. Zacks Investment Research raised shares of Symantec from a “sell” rating to a “hold” rating in a report on Wednesday. BidaskClub cut shares of Symantec from a “sell” rating to a “strong sell” rating in a report on Friday, May 10th. Mizuho reduced their target price on shares of Symantec from $25.00 to $22.00 and set a “neutral” rating for the company in a report on Friday, May 10th. Wedbush reiterated a “neutral” rating and set a $19.00 price target (down from $24.00) on shares of Symantec in a research note on Friday, May 10th. Finally, Robert W. Baird reiterated a “hold” rating on shares of Symantec in a research note on Friday, May 10th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $22.13.
In other news, Director Suzanne M. Vautrinot sold 18,000 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $24.01, for a total transaction of $432,180.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Samir Kapuria sold 45,455 shares of the company’s stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $23.05, for a total transaction of $1,047,737.75. Following the transaction, the executive vice president now owns 313,931 shares in the company, valued at $7,236,109.55. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,116,703 shares of company stock worth $26,033,682. Company insiders own 1.90% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of SYMC. Covington Capital Management acquired a new position in Symantec during the fourth quarter worth about $28,000. PRW Wealth Management LLC acquired a new position in Symantec during the fourth quarter worth about $30,000. Parisi Gray Wealth Management acquired a new position in Symantec during the fourth quarter worth about $45,000. Bronfman E.L. Rothschild L.P. grew its position in Symantec by 27.1% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 3,363 shares of the technology company’s stock worth $64,000 after buying an additional 718 shares during the period. Finally, CX Institutional grew its position in Symantec by 133.1% during the first quarter. CX Institutional now owns 2,813 shares of the technology company’s stock worth $65,000 after buying an additional 1,606 shares during the period. Institutional investors own 89.96% of the company’s stock.
Shares of NASDAQ:SYMC traded up $0.02 on Wednesday, reaching $19.49. The company’s stock had a trading volume of 10,243,700 shares, compared to its average volume of 5,606,233. Symantec has a 52-week low of $17.42 and a 52-week high of $24.77. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.02 and a current ratio of 0.85. The stock has a market capitalization of $12.23 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 1.79 and a beta of 1.09.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Monday, June 10th will be paid a dividend of $0.075 per share. The ex-dividend date is Friday, June 7th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.54%. Symantec’s dividend payout ratio (DPR) is 25.64%.
Symantec Company Profile
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.
Recommended Story: Marijuana Stocks Investing Considerations
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.