Symantec Coverage Initiated at Stifel Nicolaus (SYMC)
Several other analysts have also recently commented on the stock. 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. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company’s stock. Symantec currently has an average rating of “Hold” and an average price target of $23.13.
Symantec (NASDAQ:SYMC) opened at 24.21 on Thursday. Symantec has a 52-week low of $17.95 and a 52-week high of $26.34. The stock’s 50-day moving average is $23.70 and its 200-day moving average is $21.75. The company has a market cap of $16.716 billion and a P/E ratio of 17.36.
Symantec (NASDAQ:SYMC) last issued its quarterly 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 $1.89 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 2.48%. 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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