Symantec (SYMC) Stock Falls on Earnings Miss

NEW YORK (TheStreet) -- Shares of Symantec (SYMC) were falling 3.5% to $24.99 on heavy trading volume Friday after the software company missed analysts' estimates for earnings in the fiscal fourth quarter.

Symantec reported earnings of 43 cents a share for the fourth quarter, below analysts' estimates of 44 cents a share for the quarter. Revenue fell 6.1% year over year to $1.55 billion for the quarter, compared to analysts' estimates of $1.56 billion.

Looking to the fiscal first quarter, Symantec expects earnings of 41 cents to 44 cents a share and revenue of $1.5 billion to $1.54 billion. Analysts expect the company to report earnings of 45 cents and revenue of $1.62 billion.

Symantec expects to report earnings of $1.80 to $1.90 a share and revenue of $6.21 billion to $6.35 billion for fiscal year 2016. Analysts expect the company to report earnings of $1.90 a share and revenue of $6.38 billion for the fiscal year.

About 4.8 million shares of Symantec were traded by 12:49 p.m. Friday, above the company's average trading volume of about 4.3 million shares a day.

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 some important positives, 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 notable return on equity, reasonable valuation levels, good cash flow from operations, solid stock price performance and expanding profit margins. We feel its strengths outweigh the fact that the company has had sub par growth in net income."

You can view the full analysis from the report here: SYMC Ratings Report

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