Symantec Corporation (SYMC) Releases Earnings Results, Reports EPS of $0.22 EPS

Symantec Corporation (SYMC) reported quarterly earnings results on Thursday, May-12-2016. The company reported $0.22 EPS for the quarter. Analysts had a consensus estimate of $0.22. The company posted revenue of $873.00 million in the period, compared to analysts expectations of $873.08 million. The company’s revenue was down -2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS.

Many Wall Street Analysts have commented on Symantec Corporation. Shares were Reiterated by Topeka Capital Markets on Apr 28, 2016 to “Hold” and Lowered the Price Target to $ 20 from a previous price target of $23 .Shares were Reiterated by Wunderlich on Apr 28, 2016 to “Hold” and Lowered the Price Target to $ 19 from a previous price target of $25 .Symantec Corporation was Downgraded by Raymond James to ” Mkt Perform” on Apr 28, 2016.

Symantec Corporation opened for trading at $16.69 and hit $16.8 on the upside on Tuesday, eventually ending the session at $16.78, with a gain of 0.84% or 0.14 points. The heightened volatility saw the trading volume jump to 47,03,119 shares. Company has a market cap of $10,944 M.

In a different news, on Mar 3, 2016, Mark S. Garfield (SVP and CAO) sold 6,094 shares at $20.33 per share price. According to the SEC, on Feb 18, 2016, Anita M Sands (director) sold 1,000 shares at $20.00 per share price. On Dec 4, 2015, Brett Shirk (EVP, Veritas Worldwide Sales) sold 6,628 shares at $19.65 per share price, according to the Form-4 filing with the securities and exchange commission.

Symantec Corporation provides security backup and availability solutions. The Company operates in three segments: Consumer Security Enterprise Security and Information Management. The Company’s products and services offer protection of information in any environment from the mobile device to the enterprise data center to cloud-based systems. Consumers receive automatic downloads of the latest virus definitions application bug fixes and patches for its consumer product. The Company’s enterprise security support program offers annual maintenance support contracts including content upgrades and technical support. The Company’s Consumer Security segment offers Norton-branded services which provide multi-layer security and identity protection on desktop and mobile operating systems to defend against online threats to individuals families and small businesses.

Symantec Corporation

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