Symantec Corp. PT Lowered to $26.00 (SYMC)
Investment analysts at JMP Securities lowered their target price on shares of Symantec Corp. (NASDAQ:SYMC) from $29.00 to $26.00 in a note issued to investors on Thursday, American Banking News.com reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ price objective suggests a potential upside of 20.99% from the stock’s previous close.
Symantec Corp. (NASDAQ:SYMC) traded down 12.71% on Thursday, hitting $21.49. 44,753,692 shares of the company’s stock traded hands. Symantec Corp. has a 52-week low of $17.02 and a 52-week 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 $15.013 billion and a price-to-earnings 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 quarterly revenue was down 3.6% on a year-over-year basis.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, December 18th. Shareholders of record on Monday, November 25th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Thursday, November 21st.
A number of other analysts have also recently weighed in on SYMC. 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. Separately, 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. Finally, analysts at Standpoint Research upgraded shares of Symantec Corp. from a “hold” rating to a “buy” rating in a research note to investors on Thursday. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus 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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