Symantec Given New $27.00 Price Target at JMP Securities (SYMC)
Research analysts at JMP Securities hoisted their price objective on shares of Symantec (NASDAQ:SYMC) from $26.00 to $27.00 in a report released on Thursday. The firm currently has an “outperform” rating on the stock. JMP Securities’ target price indicates a potential upside of 13.78% from the stock’s previous close.
A number of other analysts have also recently weighed in on SYMC. Analysts at Barclays raised their price target on shares of Symantec from $23.00 to $25.00 in a research note on Thursday. They now have an “equal weight” rating on the stock. Separately, analysts at FBR Capital Markets raised their price target on shares of Symantec from $19.00 to $22.00 in a research note on Thursday. They now have a “market perform” rating on the stock. Finally, analysts at Goldman Sachs initiated coverage on shares of Symantec in a research note on Wednesday, July 16th. They set a “neutral” rating and a $23.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $22.95.
Shares of Symantec (NASDAQ:SYMC) traded up 3.20% on Thursday, hitting $24.49. The stock had a trading volume of 3,800,589 shares. Symantec has a one year low of $17.95 and a one year high of $27.10. The stock has a 50-day moving average of $22.98 and a 200-day moving average of $21.53. The company has a market cap of $16.940 billion and a P/E ratio of 18.54.
Symantec (NASDAQ:SYMC) last announced its earnings results on Wednesday, August 6th. The company reported $0.45 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.42 by $0.03. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the company posted $0.44 earnings per share. The company’s quarterly revenue was up 1.5% 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 declared a quarterly dividend, which is scheduled for Wednesday, September 17th. Investors of record on Wednesday, August 27th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Monday, August 25th.
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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