Symantec Corp. (SYMC) Receives New Coverage from Analysts at FBN Securities
Analysts at FBN Securities began coverage on shares of Symantec Corp. (NASDAQ:SYMC) in a research report issued on Thursday, The Fly reports. The brokerage set an “outperform” rating on the stock.
SYMC has been the topic of a number of other research reports. MKM Partners increased their price target on shares of Symantec Corp. from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Tuesday, August 2nd. Evercore ISI upgraded shares of Symantec Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, June 29th. RBC Capital Markets reiterated an “outperform” rating and set a $25.00 price target (up previously from $24.00) on shares of Symantec Corp. in a report on Friday, August 5th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $24.00 price target on shares of Symantec Corp. in a report on Tuesday, July 5th. Finally, Oppenheimer Holdings Inc. upgraded shares of Symantec Corp. from a “market perform” rating to an “outperform” rating and set a $28.00 price target on the stock in a report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. Symantec Corp. 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. Symantec Corp. has a 12-month low of $16.14 and a 12-month high of $25.72. The firm has a market capitalization of $15.35 billion, a P/E ratio of 6.50 and a beta of 1.10. The company has a 50-day moving average price of $24.77 and a 200-day moving average price of $20.59.
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Symantec Corp. (NASDAQ:SYMC) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.04. The business had revenue of $884 million for the quarter, compared to analysts’ expectations of $876.96 million. Symantec Corp. had a net margin of 60.18% and a return on equity of 13.56%. The business’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.40 earnings per share. Equities analysts predict that Symantec Corp. will post $1.12 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Monday, August 22nd were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $0.30 annualized dividend and a yield of 1.20%. Symantec Corp.’s payout ratio is 7.79%.
In other Symantec Corp. news, EVP Francis C. Rosch sold 3,336 shares of Symantec Corp. stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $24.88, for a total value of $82,999.68. Following the completion of the transaction, the executive vice president now directly owns 299,895 shares of the company’s stock, valued at approximately $7,461,387.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Amy L. Cappellanti-Wolf sold 15,474 shares of Symantec Corp. stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $24.88, for a total transaction of $384,993.12. Following the completion of the transaction, the senior vice president now directly owns 112,103 shares of the company’s stock, valued at $2,789,122.64. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Americafirst Capital Management LLC acquired a new position in shares of Symantec Corp. during the second quarter worth approximately $109,000. Tower Research Capital LLC TRC boosted its position 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 worth $109,000 after buying an additional 4,108 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co boosted its position 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 worth $119,000 after buying an additional 1,100 shares during the last quarter. Johnson Financial Group Inc. boosted its position 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 worth $122,000 after buying an additional 5,882 shares during the last quarter. Finally, Global X Management Co. LLC boosted its position 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 worth $128,000 after buying an additional 2,924 shares during the last quarter. 94.93% of the stock is 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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