Symantec Corp. Price Target Cut to $26.00 by Analysts at Robert W. Baird (SYMC)
Equities researchers at Robert W. Baird reduced their target price on shares of Symantec Corp. (NASDAQ:SYMC) from $30.00 to $26.00 in a research report issued on Thursday, ARN reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 20.99% from the company’s current price.
Symantec Corp. (NASDAQ:SYMC) traded down 12.71% on Thursday, hitting $21.49. The stock had a trading volume of 44,753,692 shares. Symantec Corp. has a one year low of $17.02 and a one year 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 $15.013 billion and a P/E ratio of 22.78.
Symantec Corp. (NASDAQ:SYMC) last announced its earnings results 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 quarterly revenue was down 3.6% on a year-over-year basis.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, December 18th. Investors of record on Monday, November 25th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Thursday, November 21st.
A number of other analysts have also recently weighed in on SYMC. Analysts at JMP Securities cut their price target on shares of Symantec Corp. from $29.00 to $26.00 in a research note to investors on Thursday. They now have a “market outperform” rating on the stock. Separately, analysts at Cowen and Company cut their price target on shares of Symantec Corp. from $28.00 to $25.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Finally, analysts at Barclays cut their price target on shares of Symantec Corp. from $31.00 to $26.00 in a research note to investors on Thursday. They now have an “overweight” rating on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $26.55.
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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