Symantec Receives Consensus Recommendation of “Hold” from Analysts (NASDAQ:SYMC)
Shares of Symantec (NASDAQ:SYMC) have earned a consensus recommendation of “Hold” from the twenty brokerages that are covering the company, American Banking & Market News reports. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $23.13.
Symantec (NASDAQ:SYMC) opened at 24.19 on Thursday. Symantec has a 1-year low of $17.95 and a 1-year high of $26.40. The stock’s 50-day moving average is $23.60 and its 200-day moving average is $21.66. The company has a market cap of $16.702 billion and a price-to-earnings ratio of 17.34.
Symantec (NASDAQ:SYMC) last posted its quarterly 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. Analysts expect that Symantec will post $1.89 EPS 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 2.48%. The ex-dividend date of this dividend is Monday, August 25th.
A number of analysts have recently weighed in on SYMC shares. Analysts at Topeka Capital Markets reiterated a “hold” rating on shares of Symantec in a research note on Friday, August 15th. They now have a $25.50 price target on the stock, up previously from $24.00. Separately, analysts at Piper Jaffray initiated coverage on shares of Symantec in a research note on Tuesday, August 12th. They set a “neutral” rating and a $26.00 price target on the stock. Finally, 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.
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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