Symantec Corporation Declares Quarterly Dividend of $0.08 (SYMC)
Symantec Corporation (NASDAQ:SYMC) announced a quarterly dividend on Wednesday, November 1st, RTT News reports. Investors of record on Monday, November 20th will be paid a dividend of 0.075 per share by the technology company on Wednesday, December 13th. This represents a $0.30 dividend on an annualized basis and a yield of 0.92%.
Symantec Corporation (NASDAQ:SYMC) last posted its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.40 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.03). Symantec Corporation had a positive return on equity of 10.73% and a negative net margin of 8.68%. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the prior year, the firm posted $0.30 earnings per share. The firm’s revenue for the quarter was up 25.7% on a year-over-year basis.
In other Symantec Corporation news, CEO Gregory S. Clark sold 186,433 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $30.00, for a total value of $5,592,990.00. Following the transaction, the chief executive officer now owns 1,321,671 shares of the company’s stock, valued at approximately $39,650,130. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael David Fey sold 1,348,831 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $28.84, for a total value of $38,900,286.04. Following the completion of the transaction, the insider now directly owns 1,605,757 shares in the company, valued at approximately $46,310,031.88. The disclosure for this sale can be found here. Insiders sold a total of 1,645,816 shares of company stock worth $47,911,129 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.
A number of research firms recently commented on SYMC. Standpoint Research cut Symantec Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 9th. Zacks Investment Research cut Symantec Corporation from a “hold” rating to a “sell” rating in a report on Monday, October 9th. Cowen and Company cut Symantec Corporation from a “market perform” rating to an “underperform” rating and set a $31.00 price target on the stock. in a report on Monday, October 9th. Piper Jaffray Companies reissued a “buy” rating and issued a $40.00 price target on shares of Symantec Corporation in a report on Tuesday, September 12th. Finally, Morgan Stanley cut Symantec Corporation from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $37.00 to $34.00 in a report on Tuesday, October 10th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $31.67.
About Symantec Corporation
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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