Symantec Now Covered by Analysts at Piper Jaffray (SYMC)
Analysts at Piper Jaffray initiated coverage on shares of Symantec (NASDAQ:SYMC) in a research report issued to clients and investors on Tuesday. The firm set a “neutral” rating and a $26.00 price target on the stock. Piper Jaffray’s price objective points to a potential upside of 7.04% from the company’s current price.
SYMC has been the subject of a number of other recent research reports. Analysts at JMP Securities raised their price target on shares of Symantec from $26.00 to $27.00 in a research note on Thursday, August 7th. They now have an “outperform” rating on the stock. Separately, analysts at Barclays raised their price target on shares of Symantec from $23.00 to $25.00 in a research note on Thursday, August 7th. They now have an “equal weight” rating on the stock. Finally, 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, August 7th. They now have a “market perform” rating on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company. Symantec currently has an average rating of “Hold” and an average target price of $23.05.
Symantec (NASDAQ:SYMC) traded down 0.70% during mid-day trading on Tuesday, hitting $24.12. 3,865,246 shares of the company’s stock traded hands. Symantec has a 1-year low of $17.95 and a 1-year high of $27.05. The stock has a 50-day moving average of $23.19 and a 200-day moving average of $21.55. The company has a market cap of $16.654 billion and a P/E ratio of 17.34.
Symantec (NASDAQ:SYMC) last released its earnings data 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 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 2.47%. 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.