Symantec Corporation (SYMC) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Symantec Corporation (NASDAQ:SYMC) have earned a consensus recommendation of “Hold” from the twenty-seven brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $31.00.
Several research analysts have recently weighed in on SYMC shares. Morgan Stanley upped their price target on shares of Symantec Corporation from $33.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, March 22nd. OTR Global upgraded shares of Symantec Corporation to a “positive” rating in a report on Friday, April 21st. Wells Fargo & Company reiterated a “market perform” rating on shares of Symantec Corporation in a report on Friday, April 7th. Standpoint Research upgraded shares of Symantec Corporation from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Finally, Barclays PLC upgraded shares of Symantec Corporation from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $34.00 to $38.00 in a report on Tuesday, May 30th.
Shares of Symantec Corporation (SYMC) traded up 0.03% during midday trading on Tuesday, hitting $29.01. 6,512,703 shares of the company’s stock were exchanged. The company has a 50-day moving average of $29.63 and a 200-day moving average of $28.82. Symantec Corporation has a 52 week low of $20.06 and a 52 week high of $33.22. The firm’s market cap is $17.65 billion.
Symantec Corporation (NASDAQ:SYMC) last released its quarterly earnings results on Wednesday, May 10th. The technology company reported $0.28 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.28. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Symantec Corporation had a negative net margin of 2.64% and a positive return on equity of 11.06%. The business’s quarterly revenue was up 34.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.22 earnings per share. Equities research analysts expect that Symantec Corporation will post $1.79 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 21st. Stockholders of record on Wednesday, June 7th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Monday, June 5th. Symantec Corporation’s payout ratio is presently -176.47%.
In related news, Director Anita M. Sands sold 2,000 shares of the firm’s stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $30.22, for a total transaction of $60,440.00. Following the transaction, the director now directly owns 37,231 shares of the company’s stock, valued at $1,125,120.82. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Mark S. Garfield sold 18,069 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $29.39, for a total transaction of $531,047.91. Following the transaction, the chief accounting officer now directly owns 92,754 shares in the company, valued at $2,726,040.06. The disclosure for this sale can be found here. Insiders sold 159,909 shares of company stock worth $4,881,150 over the last three months. Insiders own 0.76% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in SYMC. Advisory Services Network LLC acquired a new position in Symantec Corporation during the first quarter worth approximately $142,000. Johnson Financial Group Inc. raised its position in Symantec Corporation by 8.0% in the first quarter. Johnson Financial Group Inc. now owns 5,271 shares of the technology company’s stock worth $162,000 after buying an additional 390 shares in the last quarter. IFP Advisors Inc raised its position in Symantec Corporation by 0.3% in the first quarter. IFP Advisors Inc now owns 6,283 shares of the technology company’s stock worth $193,000 after buying an additional 19 shares in the last quarter. American Asset Management Inc. acquired a new position in Symantec Corporation during the first quarter worth approximately $207,000. Finally, Yakira Capital Management Inc. acquired a new position in Symantec Corporation during the first quarter worth approximately $217,000. 93.99% of the stock is currently owned by institutional investors and hedge funds.
Symantec Corporation Company Profile
Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security.Cloud, Data Center Security and Cloud Workload Protection products.
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