Symantec Corp Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Symantec Corp (NASDAQ:SYMC) will unveil its latest earnings on Wednesday, October 26, 2011. Symantec provides security, storage and systems management solutions to help businesses and consumers secure and manage their information.

Symantec Corp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 34 cents per share, a rise of 17.2% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 35 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 34 cents during the last month. For the year, analysts are projecting profit of $1.47 per share, a rise of 15.7% from last year.

Past Earnings Performance: The company has met estimates the last three quarters. Last quarter, the company reported net income of 33 cents per share to fall in step with the mean estimate.

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Wall St. Revenue Expectations: On average, analysts predict $1.66 billion in revenue this quarter, a rise of 12.2% from the year ago quarter. Analysts are forecasting total revenue of $6.8 billion for the year, a rise of 9.9% from last year’s revenue of $6.19 billion.

Analyst Ratings: Analysts are bullish on this stock with 21 analysts rating it as a buy, none rating it as a sell and seven rating it as a hold.

A Look Back: In the first quarter, profit rose 18.6% to $191 million (25 cents a share) from $161 million (20 cents a share) the year earlier, meeting analyst expectations. Revenue rose 15.4% to $1.65 billion from $1.43 billion.

Key Stats:

The increase in profit in the first quarter broke a streak of three consecutive quarters of year-over-year profit decreases. Net income dropped 12% in the fourth quarter of the last fiscal year, 56% in the third quarter of the last fiscal year and 9.3% in the second quarter of the last fiscal year.

Revenue has risen the past four quarters. Revenue rose 9.3% in the fourth quarter of the last fiscal year from the year earlier, climbed 3.6% in the third quarter of the last fiscal year from the year-ago quarter and 18% in the second quarter of the last fiscal year.

Competitors to Watch: Microsoft Corporation (NASDAQ:MSFT), Websense Inc. (NASDAQ:WBSN), Oracle Corporation (NASDAQ:ORCL), CA, Inc. (NASDAQ:CA), VMware, Inc. (NYSE:VMW), Intl. Business Machines Corp. (NYSE:IBM), Hewlett-Packard Company (NYSE:HPQ), Novell, Inc. (NASDAQ:NOVL), Guidance Software, Inc. (NASDAQ:GUID), and Intel Corporation (NASDAQ:INTC).

Stock Price Performance: During September 22, 2011 to October 20, 2011, the stock price had risen $1.89 (11.8%) from $16.05 to $17.94. The stock price saw one of its best stretches over the last year between September 9, 2011 and September 16, 2011 when shares rose for six-straight days, rising 9.3% (+$1.49) over that span. It saw one of its worst periods between July 28, 2011 and August 8, 2011 when shares fell for eight-straight days, falling 17.9% (-$3.49) over that span. Shares are up $1.20 (+7.2%) year to date.

(Source: Xignite Financials)

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