Symantec Corporation (NASDAQ:SYMC) has earned an average recommendation of “Hold” from the twenty-seven analysts that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $32.41.
SYMC has been the topic of several recent analyst reports. Zacks Investment Research cut shares of Symantec Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Moffett Nathanson initiated coverage on shares of Symantec Corporation in a research note on Wednesday, September 6th. They issued a “neutral” rating and a $33.00 target price on the stock. Credit Suisse Group initiated coverage on shares of Symantec Corporation in a research note on Tuesday, September 5th. They issued an “outperform” rating and a $36.00 target price on the stock. Barclays PLC reiterated a “buy” rating and issued a $36.00 target price on shares of Symantec Corporation in a research note on Thursday, November 2nd. Finally, Morgan Stanley lowered their target price on shares of Symantec Corporation from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Friday, November 3rd.
Symantec Corporation (NASDAQ SYMC) traded up $0.57 during midday trading on Monday, reaching $28.28. 5,033,342 shares of the company’s stock traded hands, compared to its average volume of 6,801,042. Symantec Corporation has a fifty-two week low of $23.20 and a fifty-two week high of $34.20. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.72. The stock has a market cap of $17,530.00, a PE ratio of 44.60, a PEG ratio of 2.84 and a beta of 1.12.
Symantec Corporation (NASDAQ:SYMC) last posted its earnings results on Wednesday, November 1st. The technology company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.14. Symantec Corporation had a negative net margin of 5.29% and a positive return on equity of 12.33%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the prior year, the company posted $0.30 EPS. The business’s revenue for the quarter was up 25.7% compared to the same quarter last year. analysts forecast that Symantec Corporation will post 1.05 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Monday, November 20th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Friday, November 17th. Symantec Corporation’s dividend payout ratio (DPR) is presently -51.72%.
In other news, SVP Amy L. Cappellanti-Wolf sold 2,163 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $29.85, for a total value of $64,565.55. Following the completion of the sale, the senior vice president now directly owns 115,997 shares of the company’s stock, valued at approximately $3,462,510.45. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Nicholas R. Noviello sold 375,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $29.38, for a total transaction of $11,017,500.00. Following the completion of the sale, the chief financial officer now directly owns 565,319 shares of the company’s stock, valued at $16,609,072.22. The disclosure for this sale can be found here. In the last three months, insiders sold 671,985 shares of company stock worth $20,028,343. Insiders own 1.30% of the company’s stock.
Several large investors have recently bought and sold shares of SYMC. Capital Research Global Investors lifted its position in shares of Symantec Corporation by 1,784.9% in the 2nd quarter. Capital Research Global Investors now owns 14,305,855 shares of the technology company’s stock worth $404,140,000 after purchasing an additional 13,546,895 shares during the period. Janus Henderson Group PLC lifted its position in shares of Symantec Corporation by 10,624.9% in the 2nd quarter. Janus Henderson Group PLC now owns 9,578,167 shares of the technology company’s stock worth $270,583,000 after purchasing an additional 9,488,859 shares during the period. Kensico Capital Management Corp purchased a new stake in shares of Symantec Corporation in the 3rd quarter worth about $225,241,000. CI Global Investments Inc. purchased a new stake in shares of Symantec Corporation in the 2nd quarter worth about $186,563,000. Finally, Renaissance Technologies LLC lifted its position in shares of Symantec Corporation by 405.7% in the 2nd quarter. Renaissance Technologies LLC now owns 4,857,838 shares of the technology company’s stock worth $137,234,000 after purchasing an additional 3,897,200 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.
About Symantec Corporation
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.
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