Symantec (SYMC) Anticipated to Publish Revenue of $0.40 Per Share

Marco Green
May 15, 2018

Seven analysts have made estimates for Symantec's earnings, with estimates ranging from $0.35 to $0.47. Orbis Allan Gray Ltd now owns 29,262,025 shares of the technology company's stock worth $821,092,000 after acquiring an additional 22,104,563 shares in the last quarter.

On average, analysts expect that Symantec will report full-year earnings of $1.62 per share for the current year, with EPS estimates ranging from $1.61 to $1.63.

Symantec revealed the audit committee investigation during last week's earnings report but didn't provide details. The highest EPS estimate is $0.41 and the lowest is $0.39. Symantec had a net margin of 23.98% and a return on equity of 16.24%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the firm earned $0.28 earnings per share. The business's revenue was up 4.9% on a year-over-year basis.

Several other brokerages have also issued reports on SYMC.

Symantec traded up $1.88, reaching $21.40, during trading on Thursday, Marketbeat Ratings reports. On Friday, May 11 the stock of Symantec Corporation (NASDAQ:SYMC) has "Neutral" rating given by BTIG Research. Finally, UBS lowered shares of Symantec from an "outperform" rating to a "market perform" rating in a research report on Friday. On Friday, May 11 First Analysis downgraded the shares of SYMC in report to "Equal-Weight" rating. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the stock. The average 12 month target price among brokerages that have issued ratings on the stock in the past year is $27.67.

It is a positive indicator for investor portfolio value - when the price of a stock Investor owns goes up in value. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. $1.14M worth of stock was sold by TAYLOR SCOTT C on Monday, April 16. In a transaction dated March 05, 2018, the shares were put up for sale at an average price of $26.59, raking in a sum of $1,379,994. Following the completion of the transaction, the executive vice president now directly owns 188,426 shares of the company's stock, valued at approximately $5,202,441.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,183 shares of company stock worth $2,630,726.

A number of institutional investors have recently modified their holdings of SYMC.

Aureus Asset Management Llc, which manages about $874.10 million and $645.96M US Long portfolio, decreased its stake in Schlumberger Nv (NYSE:SLB) by 27,036 shares to 83,671 shares, valued at $5.64 million in 2017Q4, according to the filing. New England Research & Management Inc. grew its holdings in Symantec by 83.8% in the fourth quarter. New England Research & Management Inc. now owns 28,850 shares of the technology company's stock worth $810,000 after purchasing an additional 13,150 shares during the period. BNP Paribas Arbitrage SA increased its position in Symantec by 34.9% during the first quarter. Retirement Systems of Alabama now owns 300,450 shares of the technology company's stock worth $8,431,000 after acquiring an additional 2,305 shares in the last quarter. Corporate insiders own 1.30% of the company's stock.

The stock of Symantec is trading at an all low since June 2016, which is 39% down for the last 12 months, while the S&P 500 SPX, +0.17% has gained by 13%. About 29.33 million shares traded or 323.31% up from the average. More interesting news about Symantec Corporation (NASDAQ:SYMC) were released by: Investorplace.com and their article: "5 Top Stock Trades for Monday Morning" published on May 14, 2018 as well as Streetinsider.com's news article titled: "After-Hours Stock Movers 05/10: (KGJI) (TTD) (VRAY) Higher; (SYMC) (RDFN) (NVDA) Lower (more...)" with publication date: May 10, 2018. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.15 and a quick ratio of 1.15. The company had Year Ago Sales of 1.18 Billion. Investors of record on Friday, June 8th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.40%.

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