Symantec Co. (SYMC) Expected to Post Quarterly Sales of $1.21 Billion
Equities research analysts predict that Symantec Co. (NASDAQ:SYMC) will announce sales of $1.21 billion for the current fiscal quarter, Zacks Investment Research reports. Eleven analysts have made estimates for Symantec’s earnings, with estimates ranging from $1.20 billion to $1.22 billion. Symantec posted sales of $1.22 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 0.8%. The business is scheduled to issue its next quarterly earnings results on Thursday, May 9th.
On average, analysts expect that Symantec will report full-year sales of $4.77 billion for the current financial year, with estimates ranging from $4.73 billion to $4.78 billion. For the next year, analysts forecast that the business will report sales of $4.98 billion, with estimates ranging from $4.91 billion to $5.05 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Symantec.
Symantec (NASDAQ:SYMC) last announced its quarterly earnings results on Thursday, January 31st. The technology company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. Symantec had a negative net margin of 0.86% and a positive return on equity of 13.24%. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the company posted $0.49 earnings per share.
SYMC traded up $0.02 during midday trading on Friday, reaching $22.68. 87,387 shares of the company were exchanged, compared to its average volume of 7,098,747. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.75. Symantec has a one year low of $17.42 and a one year high of $29.20. The stock has a market cap of $14.48 billion, a P/E ratio of 23.87, a price-to-earnings-growth ratio of 2.47 and a beta of 1.05.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 13th. Investors of record on Tuesday, February 19th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Friday, February 15th. Symantec’s dividend payout ratio is presently 31.58%.
A number of institutional investors have recently made changes to their positions in the stock. Starboard Value LP bought a new position in Symantec in the third quarter valued at approximately $521,398,000. Capital International Investors bought a new position in Symantec in the third quarter valued at approximately $222,769,000. First Trust Advisors LP grew its stake in Symantec by 42.3% in the third quarter. First Trust Advisors LP now owns 8,701,121 shares of the technology company’s stock valued at $185,160,000 after purchasing an additional 2,584,507 shares in the last quarter. Pictet Asset Management Ltd. grew its stake in Symantec by 61.0% in the third quarter. Pictet Asset Management Ltd. now owns 5,140,105 shares of the technology company’s stock valued at $109,381,000 after purchasing an additional 1,948,400 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in Symantec by 533.3% in the third quarter. AQR Capital Management LLC now owns 2,057,883 shares of the technology company’s stock valued at $43,792,000 after purchasing an additional 1,732,918 shares in the last quarter. 87.75% of the stock is currently owned by institutional investors and hedge funds.
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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