Symantec Corp. to Post Q2 2018 Earnings of $0.32 Per Share, Jefferies Group Forecasts (SYMC)
Symantec Corp. (NASDAQ:SYMC) – Equities research analysts at Jefferies Group increased their Q2 2018 EPS estimates for Symantec Corp. in a note issued to investors on Monday. Jefferies Group analyst J. Difucci now anticipates that the firm will post earnings per share of $0.32 for the quarter, up from their previous estimate of $0.31. Jefferies Group currently has a “Hold” rating and a $20.00 price target on the stock.
A number of other equities research analysts also recently weighed in on the company. JMP Securities reiterated a “buy” rating on shares of Symantec Corp. in a report on Tuesday. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $28.00 target price on shares of Symantec Corp. in a report on Monday. Zacks Investment Research downgraded Symantec Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, November 8th. Bank of America Corp. set a $18.00 target price on Symantec Corp. and gave the stock a “sell” rating in a report on Sunday, November 6th. Finally, Nomura restated a “hold” rating and set a $25.00 price objective on shares of Symantec Corp. in a report on Friday, November 4th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $25.44.
Symantec Corp. (NASDAQ:SYMC) traded down 0.936% during midday trading on Wednesday, reaching $24.875. The company had a trading volume of 8,000,746 shares. Symantec Corp. has a 12-month low of $16.14 and a 12-month high of $25.72. The firm has a market capitalization of $15.51 billion, a price-to-earnings ratio of 7.189 and a beta of 1.23. The stock’s 50 day moving average is $24.69 and its 200 day moving average is $22.01.
Symantec Corp. (NASDAQ:SYMC) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.20 by $0.10. The company earned $979 million during 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%. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 EPS.
A number of institutional investors have recently made changes to their positions in the company. Americafirst Capital Management LLC acquired a new position in shares of Symantec Corp. during the second quarter worth $109,000. Tower Research Capital LLC TRC raised its position in shares of Symantec Corp. by 339.8% in the second quarter. Tower Research Capital LLC TRC now owns 5,317 shares of the company’s stock worth $109,000 after buying an additional 4,108 shares in the last quarter. BKS Advisors LLC acquired a new position in shares of Symantec Corp. during the third quarter worth $113,000. Advisor Group Inc. raised its position in shares of Symantec Corp. by 18.3% in the third quarter. Advisor Group Inc. now owns 4,636 shares of the company’s stock worth $117,000 after buying an additional 717 shares in the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co raised its position in shares of Symantec Corp. by 23.4% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 5,800 shares of the company’s stock worth $119,000 after buying an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 96.69% of the company’s stock.
In other Symantec Corp. news, EVP Scott C. Taylor sold 40,000 shares of the company’s stock in a transaction dated Tuesday, October 25th. The stock was sold at an average price of $25.00, for a total value of $1,000,000.00. Following the transaction, the executive vice president now directly owns 272,577 shares in the company, valued at approximately $6,814,425. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael David Fey sold 13,214 shares of the company’s stock in a transaction dated Friday, October 14th. The stock was sold at an average price of $24.40, for a total value of $322,421.60. Following the completion of the transaction, the insider now owns 288,953 shares in the company, valued at $7,050,453.20. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 14th. Investors of record on Monday, November 21st will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.19%. Symantec Corp.’s payout ratio is 8.85%.
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About Symantec Corp.
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.
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