Brokerages expect Symantec Co. (NASDAQ:SYMC) to report $1.15 billion in sales for the current quarter, Zacks reports. Nine analysts have issued estimates for Symantecs earnings. The highest sales estimate is $1.16 billion and the lowest is $1.14 billion. Symantec posted sales of $1.18 billion in the same quarter last year, which suggests a negative year over year growth rate of 2.5%. The firm is expected to announce its next earnings results on Wednesday, August 1st.
According to Zacks, analysts expect that Symantec will report full year sales of $4.83 billion for the current year, with estimates ranging from $4.78 billion to $4.87 billion. For the next financial year, analysts anticipate that the firm will report sales of $5.07 billion per share, with estimates ranging from $4.82 billion to $5.19 billion. Zacks Investment Researchs sales calculations are an average based on a survey of analysts that that provide coverage for Symantec.
A number of research analysts have commented on the stock. Robert W. Baird reaffirmed a hold rating and issued a $25.00 target price on shares of Symantec in a research report on Friday, May 11th. Barclays cut shares of Symantec from an overweight rating to an equal weight rating in a research report on Friday, May 11th. First Analysis cut shares of Symantec from an overweight rating to an equal weight rating and reduced their price target for the stock from $35.00 to $23.00 in a research report on Friday, May 11th. Piper Jaffray Companies cut shares of Symantec from an overweight rating to a neutral rating in a research report on Thursday, May 10th. Finally, UBS Group cut shares of Symantec from an outperform rating to a market perform rating in a research report on Friday, May 11th. Five analysts have rated the stock with a sell rating, nineteen have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $27.60.
NASDAQ SYMC traded up $0.37 during trading hours on Monday, reaching $21.18. The company had a trading volume of 129,797 shares, compared to its average volume of 8,329,788. Symantec has a 1-year low of $18.85 and a 1-year high of $34.20. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.11 and a quick ratio of 1.15. The stock has a market capitalization of $12.93 billion, a P/E ratio of 21.91, a PEG ratio of 3.17 and a beta of 0.83.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 20th. Investors of record on Friday, June 8th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Thursday, June 7th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.42%. Symantecs payout ratio is 31.58%.
In related news, EVP Scott C. Taylor sold 41,284 shares of the companys stock in a transaction that occurred on Monday, April 16th. The shares were sold at an average price of $27.61, for a total transaction of $1,139,851.24. Following the sale, the executive vice president now directly owns 188,426 shares in the company, valued at $5,202,441.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Point72 Asia Hong Kong Ltd purchased a new position in Symantec in the first quarter valued at approximately $109,000. Optimum Investment Advisors purchased a new position in Symantec in the first quarter valued at approximately $129,000. Dupont Capital Management Corp increased its stake in Symantec by 117.9% in the first quarter. Dupont Capital Management Corp now owns 5,265 shares of the technology companys stock valued at $136,000 after purchasing an additional 2,849 shares during the last quarter. Delpha Capital Management LLC purchased a new position in Symantec in the fourth quarter valued at approximately $162,000. Finally, Intact Investment Management Inc. purchased a new position in Symantec in the first quarter valued at approximately $214,000. Hedge funds and other institutional investors own 94.60% of the companys stock.
This article provided by NewsEdge.