Symantec Co. (SYMC) Expected to Post Quarterly Sales of $1.21 Billion
Brokerages expect Symantec Co. (NASDAQ:SYMC) to report sales of $1.21 billion for the current fiscal quarter, Zacks 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 indicates a negative year-over-year growth rate of 0.8%. The business is expected to issue its next earnings results on Thursday, May 9th.
According to Zacks, analysts expect that Symantec will report full year sales of $4.77 billion for the current year, with estimates ranging from $4.73 billion to $4.78 billion. For the next financial year, analysts expect that the company will post 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 research analysts that cover Symantec.
Symantec (NASDAQ:SYMC) last posted its earnings results on Thursday, January 31st. The technology company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. Symantec had a negative net margin of 0.86% and a positive return on equity of 13.24%. During the same period in the previous year, the firm posted $0.49 earnings per share.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. B. Riley Financial Inc. acquired a new position in shares of Symantec during the 3rd quarter worth about $213,000. Mackenzie Financial Corp grew its stake in Symantec by 111.2% during the 3rd quarter. Mackenzie Financial Corp now owns 48,512 shares of the technology company’s stock valued at $1,032,000 after acquiring an additional 25,541 shares in the last quarter. Kentucky Retirement Systems purchased a new stake in Symantec during the 3rd quarter valued at about $1,355,000. Marshall Wace LLP grew its stake in Symantec by 404.8% during the 3rd quarter. Marshall Wace LLP now owns 712,264 shares of the technology company’s stock valued at $15,157,000 after acquiring an additional 571,157 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Symantec by 1,481.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,554,886 shares of the technology company’s stock valued at $33,088,000 after acquiring an additional 1,456,561 shares in the last quarter. Hedge funds and other institutional investors own 87.75% of the company’s stock.
NASDAQ SYMC traded up $0.02 on Friday, reaching $22.68. 87,387 shares of the company’s stock traded hands, compared to its average volume of 7,098,747. The company has a market capitalization of $14.48 billion, a PE ratio of 23.87, a P/E/G ratio of 2.47 and a beta of 1.05. Symantec has a fifty-two week low of $17.42 and a fifty-two week high of $29.20. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.02 and a quick ratio of 1.02.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 13th. Investors of record on Tuesday, February 19th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, February 15th. This represents a $0.30 annualized dividend and a dividend yield of 1.32%. Symantec’s dividend payout ratio (DPR) is presently 31.58%.
Symantec Company Profile
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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