Symantec Corp. Upgraded to “Buy” at Standpoint Research (SYMC)
Symantec Corp. (NASDAQ:SYMC) was upgraded by research analysts at Standpoint Research from a “hold” rating to a “buy” rating in a report released on Thursday, Analyst Ratings.Net reports. The analysts noted that the move was a valuation call.
Symantec Corp. (NASDAQ:SYMC) traded down 9.75% during mid-day trading on Thursday, hitting $22.22. The stock had a trading volume of 23,810,632 shares. Symantec Corp. has a 1-year low of $17.02 and a 1-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 $15.523 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 earnings per share (EPS) for the quarter, beating the 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 previous 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.
SYMC has been the subject of a number of other recent research reports. Analysts at Bank of America Corp. downgraded shares of Symantec Corp. to an “underperform” rating in a research note to investors on Thursday. Separately, 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. Finally, 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. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $27.05.
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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