Symantec Corporation (SYMC) PT Lowered to $31.00 at Morgan Stanley
Symantec Corporation (NASDAQ:SYMC) had its price target decreased by investment analysts at Morgan Stanley from $34.00 to $31.00 in a report issued on Friday. The brokerage presently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s target price suggests a potential upside of 3.75% from the company’s previous close.
Other analysts have also issued research reports about the stock. Barclays PLC reaffirmed an “overweight” rating and issued a $36.00 price objective (down previously from $38.00) on shares of Symantec Corporation in a research report on Thursday, August 3rd. Zacks Investment Research raised shares of Symantec Corporation from a “strong sell” rating to a “buy” rating and set a $32.00 price objective on the stock in a research report on Tuesday, July 11th. Evercore ISI set a $25.00 target price on shares of Symantec Corporation and gave the stock a “hold” rating in a research note on Thursday, August 3rd. BidaskClub downgraded shares of Symantec Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Finally, Robert W. Baird reiterated a “hold” rating on shares of Symantec Corporation in a research note on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have issued a buy rating to the company’s stock. Symantec Corporation currently has an average rating of “Hold” and an average target price of $31.79.
Shares of Symantec Corporation (NASDAQ SYMC) opened at $29.88 on Friday. The stock has a market capitalization of $18,359.38, a P/E ratio of 47.42, a PEG ratio of 2.25 and a beta of 1.13. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.02 and a current ratio of 1.12.
Symantec Corporation (NASDAQ:SYMC) last announced its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.26 by $0.14. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. Symantec Corporation had a negative net margin of 5.29% and a positive return on equity of 12.33%. The company’s revenue for the quarter was up 25.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 earnings per share. equities analysts predict that Symantec Corporation will post 1.14 earnings per share for the current fiscal year.
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In other Symantec Corporation news, Director Anita M. Sands sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $33.51, for a total value of $67,020.00. Following the completion of the transaction, the director now owns 37,386 shares of the company’s stock, valued at approximately $1,252,804.86. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Suzanne M. Vautrinot sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $32.81, for a total transaction of $82,025.00. The disclosure for this sale can be found here. In the last three months, insiders sold 1,645,816 shares of company stock valued at $47,911,129. Corporate insiders own 1.30% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in SYMC. Thrivent Financial For Lutherans lifted its holdings in shares of Symantec Corporation by 6.5% in the 1st quarter. Thrivent Financial For Lutherans now owns 23,104 shares of the technology company’s stock worth $709,000 after acquiring an additional 1,420 shares during the last quarter. Xact Kapitalforvaltning AB lifted its holdings in shares of Symantec Corporation by 1.8% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 89,936 shares of the technology company’s stock worth $2,541,000 after acquiring an additional 1,586 shares during the last quarter. Charter Trust Co. lifted its holdings in shares of Symantec Corporation by 9.0% in the 2nd quarter. Charter Trust Co. now owns 40,601 shares of the technology company’s stock worth $1,147,000 after acquiring an additional 3,366 shares during the last quarter. Capstone Asset Management Co. lifted its holdings in shares of Symantec Corporation by 2.1% in the 2nd quarter. Capstone Asset Management Co. now owns 51,974 shares of the technology company’s stock worth $1,468,000 after acquiring an additional 1,081 shares during the last quarter. Finally, New England Research & Management Inc. bought a new stake in shares of Symantec Corporation in the 2nd quarter worth approximately $345,000. 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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