Symantec Given Hold Rating at Topeka Capital Markets (SYMC)
Symantec (NASDAQ:SYMC)‘s stock had its “hold” rating reiterated by research analysts at Topeka Capital Markets in a report released on Friday. They currently have a $25.50 price objective on the stock, up from their previous price objective of $24.00. Topeka Capital Markets’ price target points to a potential upside of 4.77% from the stock’s previous close.
Shares of Symantec (NASDAQ:SYMC) traded down 1.29% on Friday, hitting $24.025. 2,870,973 shares of the company’s stock traded hands. Symantec has a 1-year low of $17.95 and a 1-year high of $26.57. The stock has a 50-day moving average of $23.3 and a 200-day moving average of $21.58. The company has a market cap of $16.588 billion and a price-to-earnings ratio of 17.37. Symantec also saw some unusual options trading on Tuesday. Stock investors bought 11,006 put options on the stock. This is an increase of 809% compared to the average volume of 1,211 put options.
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 last year, the company posted $0.44 earnings per share. Symantec’s revenue was up 1.5% compared to the same quarter last year. On average, analysts predict that Symantec will post $1.89 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 2.47%. The ex-dividend date of this dividend is Monday, August 25th.
A number of other analysts have also recently weighed in on SYMC. Analysts at Piper Jaffray initiated coverage on shares of Symantec in a research note on Tuesday. They set a “neutral” rating and a $26.00 price target on the stock. Separately, 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. Finally, 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. Two 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 an average rating of “Hold” and an average price target of $23.13.
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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