Stock Update: Symantec Corporation (NASDAQ:SYMC) – Symantec Provides Update on Expected Third Quarter Results

[Business Wire] – Symantec Corp. today provided an update on expected results for the third fiscal quarter of 2016. The Company anticipates that it will report GAAP Revenue, Non-GAAP Operating Margin and Non-GAAP diluted EPS for the third fiscal quarter of 2016 that are above the midpoint of the guidance provided in its press release dated November 5, 2015. Read more on this. Symantec Corporation (SYMC) , currently valued at $12.86B, opened this morning at $20.10. Today’s price range has been between $18.84 and $20.14 per share with a trailing 52-week range being $18.84 to $27.32. SYMC shares are currently priced at 15.28x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 12.46x forward p/e ratio. And for passive income investors, the company pays shareholders $0.60 per share annually in dividends, yielding 3.04%. In a review of the consensus earnings estimate this quarter, 26 sell-side analysts are looking at $0.24 per share, which would be $0.29 worse than the year-ago quarter and a $0.27 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $1.34 would be a $0.54 worse when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $904.76 Million. If realized, that would be a 44.83% decrease over the year-ago quarter. Recently, Morgan Stanley upgraded SYMC from Underweight to Equal-Weight (Aug 21, 2015). Previously, Citigroup downgraded SYMC from Buy to Neutral. The average price target for SYMC shares by the analysts covering it is $23.76, which is 18.21% above where the stock opened. See more in (NASDAQ:SYMC) Similar Articles: Market Update: Symantec Corporation (NASDAQ:SYMC) – Symantec Second-Quarter Earnings Top Analysts’ Estimates Stock Update: Symantec Corporation (NASDAQ:SYMC) – Symantec Announces Time Change for Q2 Earnings Call Market Update: Symantec Corporation (NASDAQ:SYMC) – Symantec to Webcast Quarterly Earnings Call