Wall Street brokerages predict that Symantec Co. (NASDAQ:SYMC) will post $1.18 billion in sales for the current quarter, Zacks reports. Eleven analysts have issued estimates for Symantec’s earnings, with estimates ranging from $1.17 billion to $1.19 billion. Symantec reported sales of $1.21 billion in the same quarter last year, which would suggest a negative year over year growth rate of 2.5%. The company is expected to report its next earnings report on Wednesday, January 30th.

On average, analysts expect that Symantec will report full-year sales of $4.74 billion for the current financial year, with estimates ranging from $4.72 billion to $4.78 billion. For the next financial year, analysts anticipate that the business will post sales of $4.98 billion, with estimates ranging from $4.91 billion to $5.05 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Symantec.

Symantec (NASDAQ:SYMC) last issued its quarterly earnings data on Thursday, November 1st. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.09. Symantec had a net margin of 25.95% and a return on equity of 13.99%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the company earned $0.40 earnings per share. Symantec’s revenue for the quarter was down 7.2% on a year-over-year basis.

Several brokerages have issued reports on SYMC. Zacks Investment Research reaffirmed a “sell” rating on shares of Symantec in a research report on Friday, November 16th. BidaskClub downgraded shares of Symantec from a “buy” rating to a “hold” rating in a research report on Friday, November 23rd. ValuEngine raised shares of Symantec from a “hold” rating to a “buy” rating in a research report on Friday, November 16th. Robert W. Baird increased their price objective on shares of Symantec from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, November 2nd. Finally, Barclays reaffirmed a “hold” rating and issued a $23.00 price objective on shares of Symantec in a research report on Sunday, November 4th. Three analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $23.11.

NASDAQ:SYMC traded down $0.40 during trading hours on Friday, hitting $21.96. The stock had a trading volume of 8,334,356 shares, compared to its average volume of 8,770,662. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.75. Symantec has a 1-year low of $17.49 and a 1-year high of $29.73. The company has a market capitalization of $14.13 billion, a price-to-earnings ratio of 23.12, a price-to-earnings-growth ratio of 2.84 and a beta of 0.96.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Monday, November 19th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Friday, November 16th. Symantec’s dividend payout ratio is presently 31.58%.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Symantec by 1.4% in the third quarter. Vanguard Group Inc. now owns 65,537,473 shares of the technology company’s stock worth $1,394,637,000 after purchasing an additional 902,112 shares during the period. BlackRock Inc. boosted its holdings in Symantec by 0.8% in the third quarter. BlackRock Inc. now owns 40,943,273 shares of the technology company’s stock worth $871,273,000 after purchasing an additional 314,787 shares during the period. Starboard Value LP acquired a new position in Symantec in the third quarter worth $521,398,000. Capital International Investors acquired a new position in Symantec in the third quarter worth $222,769,000. Finally, Morgan Stanley boosted its holdings in Symantec by 154.9% in the second quarter. Morgan Stanley now owns 9,064,682 shares of the technology company’s stock worth $187,185,000 after purchasing an additional 5,508,428 shares during the period. 87.83% of the stock is owned by hedge funds and other institutional investors.

Symantec Company Profile

Symantec Corporation, together with its subsidiaries, provides cybersecurity solutions worldwide. It operates through two segments, Consumer Digital Safety and Enterprise Security. The Consumer Digital Safety segment provides Norton-branded services that provide multi-layer security services across desktop and mobile operating systems, public Wi-Fi connections, and home networks to defend against online threats to individuals, families, and small businesses.

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Earnings History and Estimates for Symantec (NASDAQ:SYMC)

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