The shares of Symantec Corporation (NASDAQ:SYMC) currently has mean rating of 2.8 while 4 analyst have recommended the shares as ‘BUY’ ,0 recommended as ‘OUTPERFORM’ and 17 recommended as ‘HOLD’.The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for sell
The mean price target for the shares of Symantec Corporation (NASDAQ:SYMC) is at $20.03 while the highest price target suggested by the analysts is $24.00 and low price target is $14.00. The mean price target is calculated keeping in view the consensus of 17 brokerage firms.
The company’s mean estimate for sales for the current quarter ending Jun 16 is 878.69M by 22 analysts. The means estimate of sales for the year ending Mar 17 is 3.53B by 23 analysts.
The average estimate of EPS for the current fiscal quarter for Symantec Corporation (NASDAQ:SYMC) stands at $0.25 while the EPS for the current year is fixed at $1.09 by 24.00 analysts
The next one year’s EPS estimate is set at 1.40 by 25.00 analysts while a year ago the analysts suggested the company’s EPS at $1.09. The analysts also projected the company’s long-term growth at 10.34% for the upcoming five years
In its latest quarter ended on 31 Mar 2016 , Symantec Corporation (NASDAQ:SYMC) reported earnings of $0.22. The posted earnings missed the analyst’s consensus by $-0.01 with the surprise factor of -4.30%. In the matter of earnings surprises, the term ‘Cockroach Effect’ is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.
Symantec Corporation (NASDAQ:SYMC) traded up +2.21% during trading on Friday, hitting $21.28 . The stock had a trading volume of 10.5 M shares. The firm has a 50 day moving average of $17.78 and a 200-day moving average of $18.79. The stock has a market cap of $13.01B and a price-to-earnings ratio of 5.73. On Jun 26, 2015 the shares registered one year high at $24.25 and the one year low was seen on Mar 4, 2016.
On June 12, 2016 Symantec Corporation (NASDAQ:SYMC) announced that they have entered into a definitive agreement under which Symantec will acquire Blue Coat for approximately $4.651 billion in cash. The transaction has been approved by the Boards of Directors of both companies and is expected to close in the third calendar quarter of 2016. Greg Clark, Chief Executive Officer of Blue Coat, will be appointed Chief Executive Officer of Symantec and join the Symantec Board upon closing of the transaction.
Blue Coat is the #1 market share leader and share gainer in Web Security with a widely recognized portfolio of integrated technologies serving as a trusted platform to deliver Cloud Generation Security to more than 15,000 customers worldwide. For Blue Coat’s fiscal year ending April 30, 2016, GAAP revenue was $598 million and non-GAAP revenue was $755 million, with 17% year-over-year growth, supported by new products and new customers. For the same time period, the company had non-GAAP operating margins of 22% and cash flow from operations of $135 million. Also for this time period, GAAP operating margins were -42%.