Symantec Co. (SYMC) Expected to Announce Earnings of $0.40 Per Share
Equities research analysts expect that Symantec Co. (NASDAQ:SYMC) will post $0.40 earnings per share (EPS) for the current quarter, according to Zacks. Nine analysts have issued estimates for Symantec’s earnings. The lowest EPS estimate is $0.33 and the highest is $0.44. Symantec reported earnings per share of $0.34 in the same quarter last year, which would suggest a positive year over year growth rate of 17.6%. The company is scheduled to announce its next earnings report on Thursday, August 1st.
On average, analysts expect that Symantec will report full-year earnings of $1.77 per share for the current year, with EPS estimates ranging from $1.60 to $1.81. For the next financial year, analysts expect that the business will post earnings of $1.99 per share, with EPS estimates ranging from $1.90 to $2.21. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Symantec.
Symantec (NASDAQ:SYMC) last issued its quarterly earnings data on Thursday, May 9th. The technology company reported $0.39 earnings per share for the quarter, hitting the consensus estimate of $0.39. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.21 billion. Symantec had a return on equity of 12.94% and a net margin of 0.59%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.46 earnings per share.
Symantec stock traded down $0.01 during mid-day trading on Wednesday, hitting $19.38. The company’s stock had a trading volume of 551,649 shares, compared to its average volume of 4,271,285. The firm has a market capitalization of $14.17 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 1.93 and a beta of 1.09. Symantec has a 1 year low of $17.42 and a 1 year high of $24.77. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.02 and a current ratio of 1.02.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Monday, June 10th will be given 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 1.55%. Symantec’s payout ratio is 25.64%.
In other news, Director Suzanne M. Vautrinot sold 18,000 shares of Symantec stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $24.01, for a total transaction of $432,180.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Samir Kapuria sold 45,455 shares of Symantec stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $23.05, for a total transaction of $1,047,737.75. Following the sale, the executive vice president now owns 313,931 shares of the company’s stock, 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 valued at $26,033,682. Insiders own 1.90% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Covington Capital Management acquired a new position in shares of Symantec during the 4th quarter worth approximately $28,000. PRW Wealth Management LLC bought a new position in shares of Symantec in the fourth quarter valued at approximately $30,000. Parisi Gray Wealth Management bought a new position in shares of Symantec in the fourth quarter valued at approximately $45,000. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of Symantec by 27.1% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 3,363 shares of the technology company’s stock valued at $64,000 after acquiring an additional 718 shares in the last quarter. Finally, CX Institutional boosted its holdings in shares of Symantec by 133.1% in the first quarter. CX Institutional now owns 2,813 shares of the technology company’s stock valued at $65,000 after acquiring an additional 1,606 shares in the last quarter. Hedge funds and other institutional investors own 89.98% of the company’s stock.
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.
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