Symantec says annual report may be delayed due to investigation

Symantec says annual report may be delayed due to investigation

A number of other brokerages have also recently commented on SYMC. The stock of Symantec Corporation (NASDAQ:SYMC) earned "Underperform" rating by Jefferies on Thursday, January 18. The rating was maintained by M Partners with "Neutral" on Friday, February 5.

Among 12 analysts covering Symantec (NASDAQ:SYMC), 3 have Buy rating, 3 Sell and 6 Hold. The company's shares closed yesterday at $29.18. The company has a market capitalization of $17.87 billion, a price-to-earnings ratio of 44.21, a P/E/G ratio of 2.36 and a beta of 0.86. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.13.

Symantec announced that it has started an internal investigation into a former employee. The company added that it will distribute a quarterly cash dividend of Dollars 0.075 per share. Symantec has $40 highest and $14 lowest target.

The Mountain View, California-based company expects revenue for fiscal 2019 in the range of US$4.76bn to US$4.90bn and earnings per share in the range of US$1.50 to US$1.65. During the same period past year, the firm earned $0.28 EPS. The technology company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.07. Shares plunged 13 percent in March on the revelation. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Scott C. Taylor sold 41,284 shares of the firm's stock in a transaction on Monday, April 16th. The shares were sold at an average price of $27.72, for a total value of $110,880.00. The disclosure for this sale can be found here.

The Stock had a 2.79 Consensus Analyst Recommendation 30 Days Ago, whereas 60 days ago and 90 days ago the analyst recommendations were 2.79 and 2.79 respectively. 71,303 are owned by Palisade Cap Mngmt Ltd Liability Company Nj.

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Several research analysts have recently issued reports on the stock.

Symantec Chief Executive Officer Greg Clark and the bulk of his senior management team have been with the 36-year-old company for about two years, joining from Blue Coat Inc, which Symantec acquired in August 2016. It is positive, as 56 investors sold Symantec Corporation shares while 144 reduced holdings. Adjusted revenues for Q1 went 5 percent higher to Dollars 1.234; for the full year, they lifted 19 percent to USD 4.972 billion. Great West Life Assurance Co. Its down 66.67% from 1,200 shares previously. In the last quarter, insiders sold 97,183 shares of company stock worth $2,630,726.

The stock is now showing YTD performance of 3.99 Percent.

Symantec provides cybersecurity solutions worldwide. It operates through the Consumer Digital Safety and Enterprise Security segments.

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