Symantec Corporation (SYMC) Lowered to “Hold” at Standpoint Research

Standpoint Research lowered shares of Symantec Corporation (NASDAQ:SYMC) from a buy rating to a hold rating in a research note issued to investors on Monday morning.

A number of other analysts have also issued reports on SYMC. BidaskClub lowered shares of Symantec Corporation from a buy rating to a hold rating in a research report on Thursday, June 15th. Zacks Investment Research upgraded shares of Symantec Corporation from a strong sell rating to a buy rating and set a $32.00 target price on the stock in a research report on Tuesday, July 11th. Morgan Stanley restated an overweight rating and set a $37.00 target price on shares of Symantec Corporation in a research report on Thursday, July 13th. Stifel Nicolaus restated a hold rating and set a $27.00 target price on shares of Symantec Corporation in a research report on Wednesday, July 19th. Finally, Royal Bank Of Canada restated a hold rating and set a $32.00 target price on shares of Symantec Corporation in a research report on Monday, July 31st. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $31.54.

Symantec Corporation (NASDAQ SYMC) opened at 32.63 on Monday. Symantec Corporation has a 12-month low of $22.76 and a 12-month high of $34.20. The firm’s market capitalization is $20.00 billion. The company has a 50-day moving average price of $31.81 and a 200-day moving average price of $30.50.

Symantec Corporation (NASDAQ:SYMC) last announced its earnings results on Wednesday, August 2nd. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. Symantec Corporation had a negative net margin of 8.68% and a positive return on equity of 10.73%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the business earned $0.29 earnings per share. Symantec Corporation’s revenue was up 38.9% compared to the same quarter last year. On average, analysts predict that Symantec Corporation will post $1.81 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Monday, August 21st were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Thursday, August 17th. Symantec Corporation’s dividend payout ratio (DPR) is presently -49.18%.

In other Symantec Corporation news, CFO Nicholas R. Noviello sold 10,034 shares of the business’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $30.00, for a total transaction of $301,020.00. Following the completion of the transaction, the chief financial officer now directly owns 236,787 shares of the company’s stock, valued at approximately $7,103,610. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Suzanne M. Vautrinot sold 2,500 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $32.81, for a total transaction of $82,025.00. The disclosure for this sale can be found here. Insiders sold a total of 1,689,850 shares of company stock valued at $49,248,699 over the last ninety days. Company insiders own 1.30% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Bessemer Group Inc. boosted its stake in Symantec Corporation by 1.2% during the 2nd quarter. Bessemer Group Inc. now owns 9,311 shares of the technology company’s stock valued at $263,000 after purchasing an additional 106 shares during the period. Wetherby Asset Management Inc. lifted its stake in shares of Symantec Corporation by 2.8% in the 2nd quarter. Wetherby Asset Management Inc. now owns 8,885 shares of the technology company’s stock worth $251,000 after acquiring an additional 246 shares during the period. Municipal Employees Retirement System of Michigan lifted its stake in shares of Symantec Corporation by 1.5% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 20,120 shares of the technology company’s stock worth $617,000 after acquiring an additional 290 shares during the period. Blair William & Co. IL lifted its stake in shares of Symantec Corporation by 2.2% in the 2nd quarter. Blair William & Co. IL now owns 13,309 shares of the technology company’s stock worth $376,000 after acquiring an additional 291 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Symantec Corporation by 7.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,982 shares of the

A number of other analysts have also issued reports on SYMC. BidaskClub lowered shares of Symantec Corporation from a buy rating to a hold rating in a research report on Thursday, June 15th. Zacks Investment Research upgraded shares of Symantec Corporation from a strong sell rating to a buy rating and set a $32.00 target price on the stock in a research report on Tuesday, July 11th. Morgan Stanley restated an overweight rating and set a $37.00 target price on shares of Symantec Corporation in a research report on Thursday, July 13th. Stifel Nicolaus restated a hold rating and set a $27.00 target price on shares of Symantec Corporation in a research report on Wednesday, July 19th. Finally, Royal Bank Of Canada restated a hold rating and set a $32.00 target price on shares of Symantec Corporation in a research report on Monday, July 31st. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $31.54.

Symantec Corporation (NASDAQ SYMC) opened at 32.63 on Monday. Symantec Corporation has a 12-month low of $22.76 and a 12-month high of $34.20. The firm’s market capitalization is $20.00 billion. The company has a 50-day moving average price of $31.81 and a 200-day moving average price of $30.50.

Symantec Corporation (NASDAQ:SYMC) last announced its earnings results on Wednesday, August 2nd. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. Symantec Corporation had a negative net margin of 8.68% and a positive return on equity of 10.73%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the business earned $0.29 earnings per share. Symantec Corporation’s revenue was up 38.9% compared to the same quarter last year. On average, analysts predict that Symantec Corporation will post $1.81 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: This piece of content was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece of content on another site, it was stolen and republished in violation of international copyright and trademark law. The correct version of this piece of content can be accessed at https://ledgergazette.com/2017/10/10/symantec-corporation-symc-lowered-to-hold-at-standpoint-research.html.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Monday, August 21st were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Thursday, August 17th. Symantec Corporation’s dividend payout ratio (DPR) is presently -49.18%.

In other Symantec Corporation news, CFO Nicholas R. Noviello sold 10,034 shares of the business’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $30.00, for a total transaction of $301,020.00. Following the completion of the transaction, the chief financial officer now directly owns 236,787 shares of the company’s stock, valued at approximately $7,103,610. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Suzanne M. Vautrinot sold 2,500 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $32.81, for a total transaction of $82,025.00. The disclosure for this sale can be found here. Insiders sold a total of 1,689,850 shares of company stock valued at $49,248,699 over the last ninety days. Company insiders own 1.30% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Bessemer Group Inc. boosted its stake in Symantec Corporation by 1.2% during the 2nd quarter. Bessemer Group Inc. now owns 9,311 shares of the technology company’s stock valued at $263,000 after purchasing an additional 106 shares during the period. Wetherby Asset Management Inc. lifted its stake in shares of Symantec Corporation by 2.8% in the 2nd quarter. Wetherby Asset Management Inc. now owns 8,885 shares of the technology company’s stock worth $251,000 after acquiring an additional 246 shares during the period. Municipal Employees Retirement System of Michigan lifted its stake in shares of Symantec Corporation by 1.5% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 20,120 shares of the technology company’s stock worth $617,000 after acquiring an additional 290 shares during the period. Blair William & Co. IL lifted its stake in shares of Symantec Corporation by 2.2% in the 2nd quarter. Blair William & Co. IL now owns 13,309 shares of the technology company’s stock worth $376,000 after acquiring an additional 291 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Symantec Corporation by 7.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,982 shares of the technology company’s stock worth $112,000 after acquiring an additional 292 shares during the period. 91.65% of the stock is owned by hedge funds and other institutional investors.

Symantec Corporation Company Profile

Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security.Cloud, Data Center Security and Cloud Workload Protection products.

Analyst Recommendations for Symantec Corporation (NASDAQ:SYMC)

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