Analysts Anticipate McAfee Corp. (NASDAQ:MCFE) Will Announce Earnings of $0.22 Per Share

Equities analysts expect McAfee Corp. (NASDAQ:MCFE) to report $0.22 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for McAfee’s earnings. The highest EPS estimate is $0.23 and the lowest is $0.21. McAfee reported earnings per share of $0.38 during the same quarter last year, which indicates a negative year-over-year growth rate of 42.1%. The business is scheduled to report its next quarterly earnings report on Tuesday, February 22nd.

According to Zacks, analysts expect that McAfee will report full-year earnings of $0.99 per share for the current financial year, with EPS estimates ranging from $0.95 to $1.07. For the next fiscal year, analysts forecast that the business will report earnings of $1.20 per share, with EPS estimates ranging from $1.08 to $1.31. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover McAfee.

McAfee (NASDAQ:MCFE) last issued its quarterly earnings results on Sunday, November 7th. The company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.11. The company had revenue of $491.00 million during the quarter, compared to the consensus estimate of $466.12 million. McAfee’s quarterly revenue was up 24.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 EPS.

MCFE has been the topic of a number of research analyst reports. The Goldman Sachs Group initiated coverage on shares of McAfee in a report on Wednesday, September 22nd. They issued a “neutral” rating and a $26.00 price target on the stock. Deutsche Bank Aktiengesellschaft lowered shares of McAfee from a “buy” rating to a “hold” rating and reduced their target price for the company from $32.00 to $25.00 in a report on Monday, November 8th. Royal Bank of Canada reduced their target price on shares of McAfee from $30.00 to $26.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 9th. Mizuho lowered shares of McAfee from a “buy” rating to a “neutral” rating and reduced their target price for the company from $27.00 to $26.00 in a report on Tuesday, November 9th. Finally, Zacks Investment Research raised shares of McAfee from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Tuesday. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $26.80.

A number of institutional investors have recently made changes to their positions in the business. Advisor Group Holdings Inc. grew its holdings in McAfee by 37.7% in the 2nd quarter. Advisor Group Holdings Inc. now owns 2,489 shares of the company’s stock worth $70,000 after acquiring an additional 681 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its position in shares of McAfee by 30.6% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 3,490 shares of the company’s stock worth $77,000 after purchasing an additional 817 shares during the period. Meeder Asset Management Inc. lifted its position in shares of McAfee by 5.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 20,460 shares of the company’s stock worth $573,000 after purchasing an additional 1,048 shares during the period. Macquarie Group Ltd. purchased a new stake in shares of McAfee in the 3rd quarter worth about $26,000. Finally, Harvest Fund Management Co. Ltd lifted its position in shares of McAfee by 158.4% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 2,075 shares of the company’s stock worth $58,000 after purchasing an additional 1,272 shares during the period. 33.19% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:MCFE traded up $0.02 during trading on Friday, reaching $25.76. The company had a trading volume of 3,123,987 shares, compared to its average volume of 2,039,959. The company has a fifty day moving average of $25.68 and a two-hundred day moving average of $25.14. The stock has a market capitalization of $11.26 billion, a P/E ratio of 6.41 and a beta of -0.15. McAfee has a 12 month low of $18.20 and a 12 month high of $32.83.

McAfee Company Profile

McAfee Corp. provides various integrated security, privacy, and trust solutions to consumers, small and medium-sized businesses, large enterprises, and governments in the United States and internationally. The company operates in two segments, Consumer and Enterprise. Its security technologies enable home users and businesses to stay ahead of the wave of fileless attacks, viruses, malware, and other online threats.

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