Symantec Corp. Given New $26.00 Price Target at RBC Capital (SYMC)
Research analysts at RBC Capital dropped their price target on shares of Symantec Corp. (NASDAQ:SYMC) from $30.00 to $26.00 in a report released on Thursday, StockRatingsNetwork reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s price objective would indicate a potential upside of 5.61% from the stock’s previous close.
Shares of Symantec Corp. (NASDAQ:SYMC) opened at 24.62 on Thursday. Symantec Corp. has a one year low of $17.02 and a one year high of $27.10. The stock has a 50-day moving average of $25.9 and a 200-day moving average of $24.24. The company has a market cap of $17.200 billion and a P/E ratio of 22.78.
Symantec Corp. (NASDAQ:SYMC) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.50 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.44 by $0.06. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter last year, the company posted $0.45 earnings per share. Symantec Corp.’s revenue was down 3.6% compared to the same quarter last year. On average, analysts predict that Symantec Corp. will post $1.90 earnings per share for the current fiscal year.
SYMC has been the subject of a number of other recent research reports. Analysts at FBR Capital Markets cut their price target on shares of Symantec Corp. from $26.00 to $22.00 in a research note to investors on Thursday. They now have a “market perform” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Symantec Corp. in a research note to investors on Wednesday, September 18th. They now have a $27.00 price target on the stock. Finally, analysts at Nomura initiated coverage on shares of Symantec Corp. in a research note to investors on Wednesday, September 18th. They set a “neutral” rating and a $29.00 price target on the stock. Eleven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $26.78.
Symantec Corporation is a global provider of security, storage, and systems management solutions that help businesses and consumers secure and manage their information.
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