Symantec Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Symantec (NASDAQ:SYMC) will unveil its latest earnings tomorrow, Wednesday, January 23, 2013. Symantec provides security, storage and systems management solutions to help businesses and consumers secure and manage their information.

Symantec Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average analyst estimate is for net income of 33 cents per share, a decline of 8.3% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved down from 37 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 33 cents during the last month. For the year, analysts are projecting profit of $1.47 per share, a rise of 5.8% from last year.

Past Earnings Performance: Last quarter, the company beat estimates by 8 cents, coming in at net income of 41 cents per share against an estimate of profit of. The company also topped expectations in the first quarter.

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A Look Back: In the second quarter, profit rose 6% to $193 million (27 cents a share) from $182 million (24 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 1.1% to $1.7 billion from $1.68 billion.

Here’s how Symantec traded following its last earnings report 3 months ago and leading up to its upcoming earnings report this week:

SYMC

Analyst Ratings: With 14 analysts rating the stock a buy, none rating it a sell and 12 rating the stock a hold, there are indications of a bullish stance by analysts.

Wall St. Revenue Expectations: Analysts predict a rise of 1.2% in revenue from the year-earlier quarter to $1.74 billion.

Key Stats:

On the top line, the company is looking to build on four-straight revenue increases heading into this earnings announcement. Revenue rose 6.9% in the third quarter of the last fiscal year, 0.5% in the fourth quarter of the last fiscal year and 0.9% in the first quarter before increasing again in the second quarter.

Balance Sheet Analysis: The company’s current ratio of assets to liabilities came in at 1.04 last quarter. The current ratio is an indication of a firm’s liquidity and ability to meet creditor demands and generally, for every dollar the company owes in the short term, it has that figure available in assets that can be converted to cash in the short term.

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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)