Symantec Corp. Price Target Cut to $22.00 by Analysts at FBR Capital Markets (SYMC)
Equities researchers at FBR Capital Markets decreased their price target on shares of Symantec Corp. (NASDAQ:SYMC) from $26.00 to $22.00 in a research report issued on Thursday, Analyst Ratings Network reports. The firm currently has a “market perform” rating on the stock. FBR Capital Markets’ price target would suggest a potential downside of 10.64% from the company’s current price.
Several other analysts have also recently commented on the stock. 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. Separately, 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. Finally, analysts at Morgan Stanley downgraded shares of Symantec Corp. from an “overweight” rating to an “equal weight” rating in a research note to investors on Thursday, September 12th. They noted that the move was a valuation call. Eleven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $26.98.
Symantec Corp. (NASDAQ:SYMC) opened at 24.62 on Thursday. Symantec Corp. has a 52 week low of $17.02 and a 52 week high of $27.10. The stock’s 50-day moving average is $25.9 and its 200-day moving average is $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 in the prior year, the company posted $0.45 earnings per share. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. Analysts expect that Symantec Corp. will post $1.90 EPS for the current fiscal year.
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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