Symantec Corp. (SYMC) Now Covered by Analysts at FBN Securities
Research analysts at FBN Securities initiated coverage on shares of Symantec Corp. (NASDAQ:SYMC) in a research note issued to investors on Thursday, The Fly reports. The brokerage set an “outperform” rating on the stock.
Several other analysts have also recently commented on the company. Citigroup Inc. upgraded Symantec Corp. from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $7.50 to $26.50 in a research report on Friday, August 19th. Royal Bank Of Canada boosted their price target on Symantec Corp. from $24.00 to $25.00 and gave the stock an “outperform” rating in a research report on Friday, August 5th. Guggenheim initiated coverage on Symantec Corp. in a research report on Wednesday, September 14th. They set a “buy” rating and a $30.00 price target for the company. Wells Fargo & Co. reiterated a “hold” rating on shares of Symantec Corp. in a research report on Sunday, September 25th. Finally, Zacks Investment Research cut Symantec Corp. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $24.66.
Shares of Symantec Corp. (NASDAQ:SYMC) opened at 24.94 on Thursday. The company has a market capitalization of $15.35 billion, a P/E ratio of 6.50 and a beta of 1.10. Symantec Corp. has a 52-week low of $16.14 and a 52-week high of $25.72. The stock’s 50 day moving average price is $24.77 and its 200 day moving average price is $20.59.
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Symantec Corp. (NASDAQ:SYMC) last announced its earnings results on Thursday, August 4th. The company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.04. The business earned $884 million during the quarter, compared to the consensus estimate of $876.96 million. Symantec Corp. had a return on equity of 13.56% and a net margin of 60.18%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 EPS. On average, equities research analysts forecast that Symantec Corp. will post $1.12 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Shareholders of record on Monday, August 22nd were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Thursday, August 18th. Symantec Corp.’s dividend payout ratio is currently 7.79%.
In other news, SVP Amy L. Cappellanti-Wolf sold 15,474 shares of the firm’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $24.88, for a total transaction of $384,993.12. Following the sale, the senior vice president now owns 112,103 shares of the company’s stock, valued at approximately $2,789,122.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Francis C. Rosch sold 3,336 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $24.88, for a total value of $82,999.68. Following the sale, the executive vice president now directly owns 299,895 shares in the company, valued at approximately $7,461,387.60. The disclosure for this sale can be found here. 0.76% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. Americafirst Capital Management LLC acquired a new stake in shares of Symantec Corp. during the second quarter valued at $109,000. Tower Research Capital LLC TRC raised its stake in shares of Symantec Corp. by 339.8% in the second quarter. Tower Research Capital LLC TRC now owns 5,317 shares of the company’s stock valued at $109,000 after buying an additional 4,108 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in shares of Symantec Corp. by 23.4% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 5,800 shares of the company’s stock valued at $119,000 after buying an additional 1,100 shares during the period. Johnson Financial Group Inc. raised its stake in shares of Symantec Corp. by 10,503.6% in the second quarter. Johnson Financial Group Inc. now owns 5,938 shares of the company’s stock valued at $122,000 after buying an additional 5,882 shares during the period. Finally, Global X Management Co. LLC raised its stake in shares of Symantec Corp. by 89.0% in the second quarter. Global X Management Co. LLC now owns 6,211 shares of the company’s stock valued at $128,000 after buying an additional 2,924 shares during the period. 94.93% of the stock is currently owned by institutional investors and hedge funds.
Symantec Corp. Company Profile
Symantec Corporation provides security and information management solutions. The Company operates its business on a global civilian cyber intelligence threat network and tracks various threats across the Internet from mobile devices, endpoints, and servers across the world. It is developing solutions for cloud, threat protection, information protection and cyber security services.
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