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What's in the Cards for Symantec (SYMC) in Q4 Earnings?
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Symantec Corporation is slated to release fourth-quarter fiscal 2018 results on May 10.
Notably, Symantec has a mixed earnings surprise history. In the trailing four quarters, the stock surpassed the Zacks Consensus Estimate twice, matched it once and fell short of the same on one occasion. It delivered an average positive earnings surprise of 3.6%.
Let’s see how things are shaping up prior to this announcement.
Factors to Consider
Symantec’s continuous efforts to strengthen its product suite are likely to benefit its top line, given the surge in demand for cybersecurity-related products. Recently, the company announced that it is enhancing security for Microsoft’s (MSFT - Free Report) Azure and Office 365 products.
Additionally, the company has been gaining from its acquisition initiatives, which are broadening its customer base and enhancing its capabilities in identity protection, a huge concern for almost every sector, be it financials, retail or technology. The buyouts have helped it reduce its dependency on the PC market and strengthen position in the enterprise security market.
However, we remain slightly cautious about the company’s lower-than-expected revenues in the last reported quarter due to a faster-than-expected booking mix shift toward more “ratable revenue recognition.” This might impact financials in the soon-to-be reported quarter.
Our proven model does not conclusively show that Symantec is likely to beat estimates this quarter. A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Symantec carries a Zacks Rank #3 and has an Earnings ESP of 0.00%.
The Zacks Consensus Estimate for third-quarter earnings is pegged at 40 cents per share indicating 42.9% year-over-year increase. Additionally, analysts polled by Zacks project revenues of roughly $1.19 billion, indicating a 7.1% upside from the year-ago quarter.
Stocks to Consider
Here are some companies you may want to consider as our model shows that these have the right combination of elements to beat on earnings:
Analog Devices, Inc. (ADI - Free Report) has an Earnings ESP of +0.20% and a Zacks Rank #2.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
What's in the Cards for Symantec (SYMC) in Q4 Earnings?
Symantec Corporation is slated to release fourth-quarter fiscal 2018 results on May 10.
Notably, Symantec has a mixed earnings surprise history. In the trailing four quarters, the stock surpassed the Zacks Consensus Estimate twice, matched it once and fell short of the same on one occasion. It delivered an average positive earnings surprise of 3.6%.
Let’s see how things are shaping up prior to this announcement.
Factors to Consider
Symantec’s continuous efforts to strengthen its product suite are likely to benefit its top line, given the surge in demand for cybersecurity-related products. Recently, the company announced that it is enhancing security for Microsoft’s (MSFT - Free Report) Azure and Office 365 products.
Additionally, the company has been gaining from its acquisition initiatives, which are broadening its customer base and enhancing its capabilities in identity protection, a huge concern for almost every sector, be it financials, retail or technology. The buyouts have helped it reduce its dependency on the PC market and strengthen position in the enterprise security market.
However, we remain slightly cautious about the company’s lower-than-expected revenues in the last reported quarter due to a faster-than-expected booking mix shift toward more “ratable revenue recognition.” This might impact financials in the soon-to-be reported quarter.
Symantec Corporation Price and EPS Surprise
Symantec Corporation Price and EPS Surprise | Symantec Corporation Quote
What the Zacks Model Unveils
Our proven model does not conclusively show that Symantec is likely to beat estimates this quarter. A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Symantec carries a Zacks Rank #3 and has an Earnings ESP of 0.00%.
The Zacks Consensus Estimate for third-quarter earnings is pegged at 40 cents per share indicating 42.9% year-over-year increase. Additionally, analysts polled by Zacks project revenues of roughly $1.19 billion, indicating a 7.1% upside from the year-ago quarter.
Stocks to Consider
Here are some companies you may want to consider as our model shows that these have the right combination of elements to beat on earnings:
Workday, Inc. (WDAY - Free Report) has an Earnings ESP of +7.68% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Analog Devices, Inc. (ADI - Free Report) has an Earnings ESP of +0.20% and a Zacks Rank #2.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>