Symantec shares fall by 20% after internal probe announced

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Symantec shares fall by 20% after internal probe announced

Symantec's revenue for the quarter was up 4.9% compared to the same quarter last year. sell-side analysts anticipate that Symantec will post 0.99 EPS for the current fiscal year.

The stock increased 1.50% or $0.43 during the last trading session, reaching $29.18. This's net activity of $2.63 million.

Symantec's full-year profit outlook of between $1.50 and $1.65 per share also came in below estimates of $1.80. Symantec had 97 analyst reports since August 11, 2015 according to SRatingsIntel. "Buy" rating has 3, "Sell" are 3, while 6 are "Hold". As per Tuesday, August 11, the company rating was maintained by Wunderlich.

Adjusted earnings were 46 cents per share in the fiscal fourth quarter, topping the analyst average estimate of 39 cents. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and six have assigned a buy rating to the stock. The company's past year sales total was 1.18 Million. On Wednesday, January 31 the rating was maintained by Piper Jaffray with "Buy". The rating was maintained by Citigroup with "Neutral" on Monday, January 30. Standpoint Research raised Symantec from a "hold" rating to a "buy" rating in a research report on Friday, April 6th. On Thursday, February 1 Bank of America maintained Symantec Corporation (NASDAQ:SYMC) rating. Barclays Capital has "Overweight" rating and $36 target. Yahoo Finance put the average revenue estimate of 25 analysts at US$1.19bn. Ngam Advisors L P has invested 0% in Symantec Corporation (NASDAQ:SYMC). Symantec Corporation (SYMC) has declined 16.28% since May 11, 2017 and is downtrending.

Symantec shed a third of its value Friday, on pace for the stock's worst day in 17 years. SYMC has 4.94 million shares volume. It has underperformed by 27.83% the S&P500. It operates through two divisions, Consumer Digital Safety and Enterprise Security.The P/E ratio is 18.03.

Symantec provides security, storage, and systems management solutions to help businesses and consumers secure and manage their information. More interesting news about Symantec Corporation (NASDAQ:SYMC) were released by: "Nasdaq.com and their article: "Symantec Corporation Stock Plummets On Weak Y2019 Guidance" published on May 11, 2018 as well as Businesswire.com's news article titled: "EQUITY ALERT: "Rosen Law Firm Announces Investigation of Securities Claims Against Symantec Corporation â€" SYMC" with publication date: "May 10, 2018.

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