NEW YORK (TheStreet) -- Symantec (SYMC) was gaining 3.1% to $20.77 Friday after beating analysts' expectations for earnings and revenue in the fiscal fourth quarter and guiding above estimates for the first quarter.
For the fourth quarter Symantec reported earnings of 47 cents a share, beating analysts' estimates of 42 cents a share by 5 cents. Revenue fell -5.7% year-over-year to $1.65 billion, in-line with estimates from analysts' surveyed by Thomson Reuters.
Looking to the fiscal first quarter Symantec expect earnings of 41 cents to 43 cents a share, compared to analysts' estimates of 43 cents a share. The company expects revenue of $1.65 billion to$1.69 billion for the first quarter, while analysts expect revenue of $1.64 billion for the quarter.
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TheStreet Ratings team rates SYMANTEC CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate SYMANTEC CORP (SYMC) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its increase in net income, reasonable valuation levels, growth in earnings per share, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows weak operating cash flow."