Stock Update: Symantec Corporation (NASDAQ:SYMC) – How Silver Lake Saved Symantec Earnings

[at 24/7 Wall St.] – Symantec reported its fiscal third-quarter financial results after the markets closed on Thursday, as well as a huge investment by Silver Lake. Read more on this. Symantec Corporation (SYMC) , with a current market cap of $13.48B, started the session at $20.74. During today’s session, SYMC traded between $19.18 to $21.07 and has traded between $18.31 and $26.36 over the past year. SYMC shares are currently priced at 14.31x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 6.91x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $0.60 per share annually in dividends, yielding 3.04%. According to a consensus of 27 analysts, the earnings estimate of $0.25 per share would be $0.18 worse than the year-ago quarter and a $0.00 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $1.34, which would be a $0.54 setback when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $901.73 Million. If reported, that would be a 41.82% decrease over the year-ago quarter. In terms of ratings, 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 the stock is $23.38, which is 12.73% above where the stock opened this morning. 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