Symantec Receives Average Rating of “Hold” from Brokerages (NASDAQ:SYMC)
Symantec (NASDAQ:SYMC) has earned a consensus rating of “Hold” from the twenty-four brokerages that are covering the stock, American Banking News.com reports. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $24.45.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Symantec in a research note on Thursday, July 3rd. They now have a $24.00 price target on the stock. Separately, analysts at BMO Capital Markets downgraded shares of Symantec from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 1st. They now have a $24.00 price target on the stock, up previously from $22.00.
Symantec (NASDAQ:SYMC) opened at 22.63 on Thursday. 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 $22.10 and its 200-day moving average is $21.46. The company has a market cap of $15.653 billion and a P/E ratio of 17.68.
Symantec (NASDAQ:SYMC) last issued its quarterly 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. Analysts expect that Symantec will post $1.88 EPS for the current fiscal year.
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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