Symantec Corp. (SYMC) Receives Consensus Rating of “Hold” from Analysts
Symantec Corp. (NASDAQ:SYMC) has received an average rating of “Hold” from the twenty-six research firms that are covering the stock. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $25.19.
A number of analysts recently weighed in on SYMC shares. Goldman Sachs Group Inc. restated a “buy” rating and issued a $26.00 price target on shares of Symantec Corp. in a research note on Monday, August 15th. Citigroup Inc. upgraded Symantec Corp. from a “neutral” rating to a “buy” rating and lifted their price target for the company from $7.50 to $26.50 in a research note on Friday, August 19th. Piper Jaffray Cos. set a $27.00 price target on Symantec Corp. and gave the company a “buy” rating in a research note on Tuesday, August 23rd. BTIG Research reiterated a “buy” rating and set a $28.00 target price on shares of Symantec Corp. in a research report on Thursday, August 25th. Finally, Wunderlich upgraded Symantec Corp. from a “hold” rating to a “buy” rating and boosted their target price for the stock from $23.00 to $30.00 in a research report on Tuesday, September 13th.
Symantec Corp. (NASDAQ:SYMC) traded down 0.17% during trading on Wednesday, hitting $24.18. The stock had a trading volume of 3,152,351 shares. The firm has a market cap of $14.88 billion, a price-to-earnings ratio of 6.31 and a beta of 1.10. Symantec Corp. has a one year low of $16.14 and a one year high of $25.72. The stock’s 50-day moving average is $24.81 and its 200 day moving average is $20.77.
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Symantec Corp. (NASDAQ:SYMC) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.04. Symantec Corp. had a return on equity of 13.56% and a net margin of 60.18%. The firm had revenue of $884 million for the quarter, compared to the consensus estimate of $876.96 million. During the same period in the previous year, the business earned $0.40 earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. Equities analysts anticipate that Symantec Corp. will post $1.12 earnings per share for the current year.
In other news, EVP Francis C. Rosch sold 3,336 shares of the company’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 completion of the sale, the executive vice president now owns 299,895 shares of the company’s stock, valued at $7,461,387.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael David Fey sold 13,214 shares of the company’s stock in a transaction dated Friday, October 14th. The stock was sold at an average price of $24.40, for a total value of $322,421.60. Following the completion of the sale, the insider now directly owns 288,953 shares of the company’s stock, valued at approximately $7,050,453.20. The disclosure for this sale can be found here. 0.76% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Symantec Corp. by 15.2% in the second quarter. Vanguard Group Inc. now owns 55,082,579 shares of the company’s stock valued at $1,131,397,000 after buying an additional 7,251,961 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Symantec Corp. by 16.5% in the second quarter. Franklin Resources Inc. now owns 43,491,263 shares of the company’s stock worth $893,312,000 after buying an additional 6,147,041 shares in the last quarter. Elliott Management Corp increased its position in shares of Symantec Corp. by 130.5% in the first quarter. Elliott Management Corp now owns 11,527,275 shares of the company’s stock worth $211,871,000 after buying an additional 6,527,275 shares in the last quarter. LSV Asset Management increased its position in shares of Symantec Corp. by 6.1% in the second quarter. LSV Asset Management now owns 9,870,223 shares of the company’s stock worth $202,734,000 after buying an additional 566,600 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. increased its position in shares of Symantec Corp. by 9.7% in the second quarter. Beutel Goodman & Co Ltd. now owns 7,988,451 shares of the company’s stock worth $126,130,000 after buying an additional 709,147 shares in the last quarter. 95.15% of the stock is owned by institutional investors.
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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