Symantec Price Target Raised to $22.00 at FBR Capital Markets (SYMC)
Research analysts at FBR Capital Markets lifted their price objective on shares of Symantec (NASDAQ:SYMC) from $19.00 to $22.00 in a report released on Thursday. The firm currently has a “market perform” rating on the stock. FBR Capital Markets’ target price indicates a potential downside of 7.29% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, 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. Finally, 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. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company. Symantec presently has a consensus rating of “Hold” and a consensus target price of $22.79.
Symantec (NASDAQ:SYMC) opened at 23.73 on Thursday. 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 $16.414 billion and a P/E ratio of 18.69.
Symantec (NASDAQ:SYMC) last announced its earnings results on Wednesday, August 6th. The company reported $0.45 earnings per share for the quarter, beating the analysts’ 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 announced a quarterly dividend, which is scheduled for Wednesday, September 17th. Investors of record on Wednesday, August 27th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.53%. The ex-dividend date 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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