Symantec Downgraded by BMO Capital Markets to “Market Perform” (SYMC)
Symantec (NASDAQ:SYMC) opened at 22.90 on Tuesday. Symantec has a 1-year low of $17.95 and a 1-year high of $27.10. The stock has a 50-day moving average of $21. and a 200-day moving average of $21.47. The company has a market cap of $15.840 billion and a P/E ratio of 17.79.
Symantec (NASDAQ:SYMC) last released its earnings data on Thursday, May 8th. The company reported $0.47 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.44 earnings per share. The company’s quarterly revenue 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.
A number of other firms have also recently commented on SYMC. 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 equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $24.38.
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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