Symantec Corp. (SYMC) Updates FY17 Earnings Guidance
Symantec Corp. (NASDAQ:SYMC) issued an update on its FY17 earnings guidance on Monday morning. The company provided earnings per share guidance of $1.12-1.18 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.16. The company issued revenue guidance of $4.04-4.12 billion, compared to the consensus revenue estimate of $4.09 billion.Symantec Corp. also updated its FY18 guidance to $1.70-1.80 EPS.
Shares of Symantec Corp. (NASDAQ:SYMC) opened at 24.52 on Tuesday. The firm has a market cap of $15.29 billion, a PE ratio of 7.09 and a beta of 1.23. Symantec Corp. has a 12 month low of $16.14 and a 12 month high of $25.72. The stock has a 50 day moving average price of $24.69 and a 200 day moving average price of $21.95.
Symantec Corp. (NASDAQ:SYMC) last announced its earnings results on Thursday, November 3rd. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.20 by $0.10. The business had revenue of $979 million for the quarter, compared to the consensus estimate of $978.86 million. Symantec Corp. had a return on equity of 11.62% and a net margin of 60.52%. Symantec Corp.’s revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 EPS. On average, equities research analysts expect that Symantec Corp. will post $1.16 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 14th. Stockholders of record on Monday, November 21st will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Thursday, November 17th. Symantec Corp.’s payout ratio is currently 8.85%.
Several research analysts recently weighed in on the stock. MKM Partners boosted their price objective on shares of Symantec Corp. from $21.00 to $26.00 and gave the stock a neutral rating in a research report on Wednesday, November 2nd. FBN Securities started coverage on shares of Symantec Corp. in a research report on Thursday, October 13th. They issued an outperform rating and a $29.00 price objective for the company. Royal Bank Of Canada upped their target price on shares of Symantec Corp. from $24.00 to $25.00 and gave the company an outperform rating in a research report on Friday, August 5th. Zacks Investment Research upgraded shares of Symantec Corp. from a hold rating to a strong-buy rating and set a $25.00 target price for the company in a research report on Tuesday, August 9th. Finally, RBC Capital Markets reiterated an outperform rating and set a $25.00 target price (up previously from $24.00) on shares of Symantec Corp. in a research report on Friday, August 5th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $25.44.
In other Symantec Corp. news, EVP Francis C. Rosch sold 3,336 shares of the stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $24.88, for a total value of $82,999.68. Following the transaction, the executive vice president now directly owns 299,895 shares of the company’s stock, valued at approximately $7,461,387.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael David Fey sold 13,214 shares of the stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $25.13, for a total transaction of $332,067.82. Following the completion of the transaction, the insider now directly owns 288,953 shares in the company, valued at $7,261,388.89. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SYMC. Johnson Financial Group Inc. boosted its position in Symantec Corp. by 10,503.6% in the second quarter. Johnson Financial Group Inc. now owns 5,938 shares of the company’s stock valued at $122,000 after buying an additional 5,882 shares in the last quarter. Cipher Capital LP bought a new position in Symantec Corp. during the second quarter valued at $221,000. Fort L.P. boosted its position in Symantec Corp. by 12.8% in the second quarter. Fort L.P. now owns 11,675 shares of the company’s stock valued at $240,000 after buying an additional 1,329 shares in the last quarter. Ingalls & Snyder LLC bought a new position in Symantec Corp. during the second quarter valued at $242,000. Finally, Mariner Wealth Advisors LLC boosted its position in Symantec Corp. by 53.3% in the second quarter. Mariner Wealth Advisors LLC now owns 17,165 shares of the company’s stock valued at $353,000 after buying an additional 5,965 shares in the last quarter. 96.69% of the stock is currently owned by hedge funds and other institutional investors.
Symantec Corp. Company Profile
Symantec Corporation provides security and information management solutions. The Company operates its business on a global civilian cyber intelligence threat network and tracks various threats across the Internet from mobile devices, endpoints, and servers across the world. It is developing solutions for cloud, threat protection, information protection and cyber security services.
Receive News & Stock Ratings for Symantec Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Symantec Corp. and related stocks with our FREE daily email newsletter.