Symantec Corp. Stock Rating Lowered by Bank of America Corp. (SYMC)
Symantec Corp. (NASDAQ:SYMC) was downgraded by equities researchers at Bank of America Corp. to an “underperform” rating in a research report issued on Thursday, American Banking News.com reports.
A number of other analysts have also recently weighed in on SYMC. Analysts at Nomura reiterated a “hold” rating on shares of Symantec Corp. in a research note to investors on Thursday. They now have a $29.00 price target on the stock. Separately, analysts at RBC Capital cut their price target on shares of Symantec Corp. from $30.00 to $26.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Finally, 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. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $27.05.
Symantec Corp. (NASDAQ:SYMC) traded down 13.12% during mid-day trading on Thursday, hitting $21.39. 16,249,378 shares of the company’s stock traded hands. 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 $14.944 billion and a price-to-earnings ratio of 22.78.
Symantec Corp. (NASDAQ:SYMC) last announced its earnings results on Wednesday, October 23rd. The company reported $0.50 earnings per share for the quarter, beating the analysts’ 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. 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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