Symantec Corporation’s (SYMC) “Hold” Rating Reaffirmed at Stifel Nicolaus
Symantec Corporation (NASDAQ:SYMC)‘s stock had its “hold” rating reissued by stock analysts at Stifel Nicolaus in a research note issued to investors on Friday. They presently have a $27.00 target price on the technology company’s stock. Stifel Nicolaus’ price target would suggest a potential downside of 9.62% from the stock’s current price.
SYMC has been the topic of a number of other reports. Barclays PLC reaffirmed an “overweight” rating and set a $36.00 target price (down from $38.00) on shares of Symantec Corporation in a research report on Thursday, August 3rd. Robert W. Baird reaffirmed a “hold” rating and set a $32.00 target price on shares of Symantec Corporation in a research report on Friday, September 8th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $32.00 target price on shares of Symantec Corporation in a research report on Monday, July 31st. BidaskClub raised Symantec Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. Finally, Morgan Stanley cut their target price on Symantec Corporation from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Friday. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $31.52.
Shares of Symantec Corporation (SYMC) traded down $2.29 during trading on Friday, hitting $29.88. The stock had a trading volume of 10,366,780 shares, compared to its average volume of 5,533,243. The company has a market capitalization of $18,055.18, a price-to-earnings ratio of 46.63 and a beta of 1.13.
Symantec Corporation (NASDAQ:SYMC) last announced its earnings results on Wednesday, November 1st. The technology company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.14. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. Symantec Corporation had a positive return on equity of 12.33% and a negative net margin of 5.29%. Symantec Corporation’s revenue for the quarter was up 25.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 earnings per share. sell-side analysts predict that Symantec Corporation will post 1.18 EPS for the current fiscal year.
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In related news, SVP Amy L. Cappellanti-Wolf sold 2,163 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $29.85, for a total transaction of $64,565.55. Following the completion of the transaction, the senior vice president now owns 115,997 shares of the company’s stock, valued at approximately $3,462,510.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Amy L. Cappellanti-Wolf sold 927 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $30.00, for a total value of $27,810.00. Following the transaction, the senior vice president now directly owns 112,907 shares of the company’s stock, valued at approximately $3,387,210. The disclosure for this sale can be found here. Insiders have sold a total of 1,645,816 shares of company stock valued at $47,911,129 in the last three months. 1.30% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of SYMC. International Value Advisers lifted its position in shares of Symantec Corporation by 1.0% during the 3rd quarter. International Value Advisers now owns 2,009,261 shares of the technology company’s stock worth $39,100,000 after purchasing an additional 19,220 shares during the last quarter. ING Groep raised its holdings in Symantec Corporation by 0.4% in the 3rd quarter. ING Groep now owns 3,041,322 shares of the technology company’s stock valued at $59,155,000 after acquiring an additional 13,269 shares in the last quarter. Palo Capital acquired a new position in Symantec Corporation in the 3rd quarter valued at approximately $406,000. J. Goldman & Company acquired a new position in Symantec Corporation in the 3rd quarter valued at approximately $2,426,000. Finally, New England Research & Management raised its holdings in Symantec Corporation by 12.8% in the 4th quarter. New England Research & Management now owns 36,150 shares of the technology company’s stock valued at $759,000 after acquiring an additional 4,100 shares in the last quarter. 91.41% of the stock is owned by institutional investors and hedge funds.
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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