Symantec (SYMC) Scheduled to Post Quarterly Earnings on Thursday

Symantec (NASDAQ:SYMC) is set to announce its Q1 2020 earnings results after the market closes on Thursday, August 8th. Analysts expect the company to announce earnings of $0.21 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Symantec (NASDAQ:SYMC) last announced its quarterly earnings results on Thursday, May 9th. The technology company reported $0.39 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.39. Symantec had a return on equity of 13.05% and a net margin of 0.59%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the company earned $0.46 earnings per share. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, analysts expect Symantec to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Shares of Symantec stock opened at $20.46 on Wednesday. Symantec has a 1 year low of $17.42 and a 1 year high of $26.07. The stock has a 50-day simple moving average of $22.59. The company has a market capitalization of $13.06 billion, a P/E ratio of 17.49, a P/E/G ratio of 2.12 and a beta of 1.33. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.69.

SYMC has been the subject of a number of research reports. Mizuho upgraded Symantec from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $22.00 to $23.00 in a report on Monday, June 17th. Morgan Stanley downgraded Symantec from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $23.00 to $14.00 in a report on Tuesday, June 11th. Wedbush set a $19.00 price objective on Symantec and gave the stock a “hold” rating in a report on Monday, July 15th. BidaskClub downgraded Symantec from a “hold” rating to a “sell” rating in a report on Friday, July 26th. Finally, Jefferies Financial Group decreased their price objective on Symantec from $22.00 to $19.00 and set a “hold” rating for the company in a report on Friday, May 10th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. Symantec has a consensus rating of “Hold” and an average target price of $21.64.

In related news, Director Peter A. Feld purchased 650,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was purchased at an average cost of $19.51 per share, for a total transaction of $12,681,500.00. Following the completion of the purchase, the director now directly owns 22,117 shares in the company, valued at $431,502.67. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.90% of the stock is currently owned by company insiders.

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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Earnings History for Symantec (NASDAQ:SYMC)

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