Jenna,
I noticed you mentioned SYMC last week, but the earning dates were incorrect. Thought this might be of interest to this thread:
TTD's Spotlight Stock
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Symantec Corp.(SYMC)20 7/8
Maker of computer software such as Norton anti-virus software etc. SYMC
has been basing around 20 for six weeks after rallying nicely from 13 in
late April. The stock got hammered down hard in 1996 due to weak
earnings (see long-term chart). Now, TTD is forecasting an improvement
in earnings. Coupled with the strong accumulation on the tape today, we
expect SYMC to push higher.
Although, SYMC has not made a new high like the leading software stocks,
it has a high Relative Strength ranking indicating it is moving well.
Also insiders were buyers recently, none have been sellers this year.
SYMC's earnings this fiscal year ending March 31 will climb 67% to $1.30
a share from 78 cents last year. For the fiscal first quarter ending
June 30, TTD is forecasting a 275% surge in profits to 30 cents a share
from 8 cents a year ago. Results will come in July 28. SYMC has
surpassed Street estimates the past three quarters. The fiscal second
quarter will be strong. We estimate net will jump 88% to 30 cents a
share from 16 cents last year.
SYMC has many products. However, one area that should do well is
anti-virus. Its main competitor is Mcafee Associates (MCAF) whose stock
is flying. With almost everyone going on-line, having an anti-virus
program is a must - we know about that here at TTD. SYMC's Norton
anti-virus program has gotten good comments from the computer people
we've spoken to.
TTD is calling for SYMC to breakout and drive to 26 to 28 within the
next six months. A stop can be placed at 18 1/2. The stock's beta is
1.92. Long-term, SYMC should do very well, if profit growth remains on
target. It is suitable for aggressive investors. The Fidelity Funds hold
3.4 million shares. Six analysts follow the stock, 2 have a strong buy,
one a moderate buy and 3 are neutral.
end
Copyright Ticker Tape Digest July 21, 1997
Note: Earnings- July 28
Bought Aug 20's
Fred |
