Symantec Corporation (SYMC) Releases Earnings Results, Beats Expectations By $0.04 EPS

Symantec Corporation (SYMC) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $0.29 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.25. The company posted revenue of $884.00 million in the period, compared to analysts expectations of $877.37 million. The company’s revenue was down -3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS.

Many Wall Street Analysts have commented on Symantec Corporation. Company shares were Reiterated by Jefferies on Aug 2, 2016 to “Hold”, Firm has raised the Price Target to $ 20 from a previous price target of $17 .Company shares were Reiterated by MKM Partners on Aug 2, 2016 to “Neutral”, Firm has raised the Price Target to $ 21 from a previous price target of $18 .Symantec Corporation was Downgraded by Standpoint Research to ” Hold” on Jul 12, 2016.

Symantec Corporation opened for trading at $20.5 and hit $20.74 on the upside on Tusday, eventually ending the session at $20.68, with a gain of 0.63% or 0.13 points. The heightened volatility saw the trading volume jump to 1,07,78,619 shares. Company has a market cap of $12,730 M.

In a different news, on Jul 5, 2016, Suzanne M Vautrinot (director) sold 3,750 shares at $20.39 per share price. According to the SEC, on Jun 15, 2016, Mark S. Garfield (SVP and CAO) sold 11,852 shares at $18.76 per share price. On Feb 18, 2016, Anita M Sands (director) sold 1,000 shares at $20.00 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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