Symantec Short Interest Down 12.7% in April (SYMC)
Shares of Symantec (NASDAQ:SYMC) were the recipient of a significant decline in short interest during the month of April. As of April 30th, there was short interest totalling 10,921,994 shares, a decline of 12.7% from the April 15th total of 12,511,396 shares, AnalystRatingsNetwork.com reports. Currently, 1.6% of the company’s stock are sold short. Based on an average daily trading volume, of 5,620,212 shares, the days-to-cover ratio is currently 1.9 days.
In other Symantec news, Director Michael A/Ca Brown bought 18,500 shares of the stock on the open market in a transaction dated Tuesday, May 13th. The shares were purchased at an average cost of $21.13 per share, with a total value of $390,905.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
SYMC has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Symantec in a research note on Tuesday, May 13th. They now have a $22.00 price target on the stock. Separately, analysts at Goldman Sachs reiterated a “sell” rating on shares of Symantec in a research note on Friday, May 9th. Finally, analysts at RBC Capital raised their price target on shares of Symantec from $23.00 to $25.00 in a research note on Friday, May 9th. They now have an “outperform” rating on the stock. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $24.27.
Symantec (NASDAQ:SYMC) opened at 22.44 on Monday. Symantec has a 52-week low of $17.95 and a 52-week high of $27.10. The stock’s 50-day moving average is $20.54 and its 200-day moving average is $21.68. The company has a market cap of $15.551 billion and a price-to-earnings ratio of 17.43.
Symantec (NASDAQ:SYMC) last released its earnings data on Thursday, May 8th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.05. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, analysts predict that Symantec will post $1.88 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Friday, June 6th.
Symantec Corporation is a security, backup and availability solutions. The Company’s products and services protect people and information in any digital environment from the smallest mobile device, to the enterprise data center, to cloud-based systems.
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