A number of firms have modified their ratings and price targets on shares of Symantec Corporation (NASDAQ: SYMC) recently:

  • 7/13/2017 – Symantec Corporation had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $37.00 price target on the stock.
  • 7/12/2017 – Symantec Corporation was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 7/11/2017 – Symantec Corporation was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “buy” rating. They now have a $32.00 price target on the stock. According to Zacks, “Estimates have been stable ahead of Symantec’s first-quarter fiscal 2018 results. The prospects of cybersecurity companies look bright as the recent global hackings, like WannaCry and Petya, have started to adversely affect the top- and bottom-line results of various organizations like Mondelez, FedEx and Merck & Co. The silver lining in this entire episode will be the rise in demand for security-related products among companies and governments, in our opinion. We believe that this could bring Symantec back into the limelight. Moreover, the recent deal to acquire Israel-based Fireglass will further strengthen Symantec’s leadership position in Secure Web Gateway and Email protection, both delivered on premises and in the cloud. Nonetheless, smaller companies like Kaspersky are consistently launching comparable products. These, along with competition from the likes of Microsoft, remain headwinds.”
  • 6/29/2017 – Symantec Corporation was upgraded by analysts at Standpoint Research from a “hold” rating to a “buy” rating.
  • 6/15/2017 – Symantec Corporation was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 6/10/2017 – Symantec Corporation had its “hold” rating reaffirmed by analysts at Robert W. Baird.
  • 6/10/2017 – Symantec Corporation was given a new $25.00 price target on by analysts at Evercore ISI. They now have a “hold” rating on the stock.
  • 6/9/2017 – Symantec Corporation had its “buy” rating reaffirmed by analysts at Goldman Sachs Group, Inc. (The). They now have a $36.00 price target on the stock.
  • 6/9/2017 – Symantec Corporation had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings, Inc.. They now have a $33.00 price target on the stock, up previously from $32.00.
  • 6/7/2017 – Symantec Corporation is now covered by analysts at Susquehanna Bancshares Inc. They set a “neutral” rating and a $32.00 price target on the stock.
  • 5/30/2017 – Symantec Corporation was upgraded by analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating. They now have a $38.00 price target on the stock, up previously from $34.00.
  • 5/19/2017 – Symantec Corporation was downgraded by analysts at Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating. They now have a $32.00 price target on the stock, down previously from $34.00. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 5/18/2017 – Symantec Corporation was downgraded by analysts at UBS AG from a “buy” rating to a “neutral” rating. They now have a $33.00 price target on the stock, up previously from $31.00.

Symantec Corporation (NASDAQ:SYMC) traded up 1.46% during trading on Monday, reaching $30.52. 6,484,357 shares of the company’s stock traded hands. Symantec Corporation has a 12 month low of $20.06 and a 12 month high of $33.22. The company has a 50-day moving average of $29.63 and a 200 day moving average of $28.82. The stock’s market capitalization is $18.56 billion.

Symantec Corporation (NASDAQ:SYMC) last issued its quarterly earnings results on Wednesday, May 10th. The technology company reported $0.28 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.28. Symantec Corporation had a negative net margin of 2.64% and a positive return on equity of 11.06%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the company earned $0.22 EPS. Symantec Corporation’s revenue was up 34.7% on a year-over-year basis. On average, equities research analysts expect that Symantec Corporation will post $1.79 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 21st. Shareholders of record on Wednesday, June 7th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Monday, June 5th. Symantec Corporation’s payout ratio is -176.47%.

In other Symantec Corporation news, SVP Amy L. Cappellanti-Wolf sold 3,741 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $29.91, for a total transaction of $111,893.31. Following the sale, the senior vice president now owns 88,774 shares in the company, valued at approximately $2,655,230.34. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Scott C. Taylor sold 13,000 shares of the business’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $32.45, for a total value of $421,850.00. Following the sale, the executive vice president now owns 237,030 shares in the company, valued at approximately $7,691,623.50. The disclosure for this sale can be found here. Insiders sold a total of 171,943 shares of company stock valued at $5,239,930 over the last three months. 0.76% of the stock is owned by corporate insiders.

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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