Analysts’ Weekly Ratings Updates for Symantec Corporation (SYMC)
Several brokerages have updated their recommendations and price targets on shares of Symantec Corporation (NASDAQ: SYMC) in the last few weeks:
- 11/3/2017 – Symantec Corporation had its price target lowered by analysts at Morgan Stanley from $34.00 to $31.00. They now have an “equal weight” rating on the stock.
- 11/3/2017 – Symantec Corporation had its “hold” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $27.00 price target on the stock.
- 11/2/2017 – Symantec Corporation had its “outperform” rating reaffirmed by analysts at CIBC. They now have a $33.00 price target on the stock, down previously from $35.00.
- 11/2/2017 – Symantec Corporation had its “hold” rating reaffirmed by analysts at Evercore ISI. They now have a $25.00 price target on the stock.
- 11/2/2017 – Symantec Corporation had its price target lowered by analysts at Oppenheimer Holdings, Inc. from $35.00 to $33.00. They now have an “outperform” rating on the stock.
- 11/2/2017 – Symantec Corporation had its “buy” rating reaffirmed by analysts at Barclays PLC. They now have a $36.00 price target on the stock.
- 10/15/2017 – Symantec Corporation was given a new $40.00 price target on by analysts at Piper Jaffray Companies. They now have a “buy” rating on the stock.
- 10/10/2017 – Symantec Corporation was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating. They now have a $34.00 price target on the stock, down previously from $37.00.
- 10/9/2017 – Symantec Corporation was downgraded by analysts at Cowen and Company from a “market perform” rating to an “underperform” rating. They now have a $31.00 price target on the stock.
- 10/9/2017 – Symantec Corporation was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Estimates for internet security provider, Symantec, have been unchanged, of late, ahead of the company’s Q2 earnings release. The company, during its first-quarter earnings release, announced that privately-owned DigiCert Inc. has agreed to buy its Website Security business. However, we consider that although the sale of its certified authority business will avoid conflicts with Alphabet, the high margin of the sold business may hurt Symantec’s near-term profitability. Furthermore, changing customer spending behavior makes us pretty skeptical about Symantec’s near-term performance. Moreover, smaller companies like Kaspersky are consistently launching comparable products. These, along with competition from the likes of Microsoft, remain headwinds. The uncertainty over PC sales adds to its woes. Nonetheless, the stock has outperformed the industry to which it belongs to in the last one year.”
- 10/9/2017 – Symantec Corporation was downgraded by analysts at Standpoint Research from a “buy” rating to a “hold” rating.
- 10/3/2017 – Symantec Corporation was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Estimates for Internet security provider, Symantec have been stable off late. Shares of the company have underperformed the industry over the past six months. The company faces increased competition from bellwethers such as Microsoft and Intel. Other small and medium-sized companies like Kaspersky, Trend Micro and VMware are consistently launching comparable products. Also, fluctuation in demand poses challenges for Symantec. Nonetheless, investment in growth areas such as Enterprise Backup, Storage Management and Security businesses are likely to boost Symantec’s long-term prospects. Additionally, restructuring initiatives and synergies from acquisitions are likely to support the company’s bottom line.”
Symantec Corporation (NASDAQ SYMC) traded up $0.13 during trading on Wednesday, hitting $28.10. The company had a trading volume of 5,308,000 shares, compared to its average volume of 6,816,003. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $17,340.90, a P/E ratio of 44.40, a PEG ratio of 2.82 and a beta of 1.13. Symantec Corporation has a 1-year low of $23.20 and a 1-year high of $34.20.
Symantec Corporation (NASDAQ:SYMC) last posted its earnings results on Wednesday, November 1st. The technology company reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.14. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate 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 was up 25.7% on a year-over-year basis. During the same quarter last year, the company earned $0.30 EPS. sell-side analysts anticipate that Symantec Corporation will post 1.05 EPS for the current year.
In related news, CEO Gregory S. Clark sold 186,433 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $30.00, for a total transaction of $5,592,990.00. Following the completion of the sale, the chief executive officer now directly owns 1,321,671 shares of the company’s stock, valued at approximately $39,650,130. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anita M. Sands sold 2,000 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 37,386 shares of the company’s stock, valued at $1,252,804.86. The disclosure for this sale can be found here. Insiders have sold a total of 671,985 shares of company stock valued at $20,028,343 in the last 90 days. 1.30% 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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