Symantec Corporation (SYMC) Given Consensus Rating of “Hold” by Analysts

Symantec Corporation (NASDAQ:SYMC) has been assigned an average rating of “Hold” from the twenty-eight analysts that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, fifteen have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $31.70.

Several analysts have issued reports on the company. Evercore ISI restated a “hold” rating and issued a $25.00 target price on shares of Symantec in a research note on Friday. Piper Jaffray Companies set a $40.00 target price on Symantec and gave the company a “buy” rating in a research note on Sunday, October 15th. BidaskClub lowered Symantec from a “hold” rating to a “sell” rating in a research note on Tuesday, December 19th. Deutsche Bank began coverage on Symantec in a research note on Tuesday, December 19th. They set a “hold” rating and a $30.00 price objective on the stock. Finally, Jefferies Group lowered Symantec from a “hold” rating to an “underperform” rating and decreased their price objective for the company from $30.00 to $23.00 in a research note on Thursday, January 18th.

In other Symantec news, EVP Francis C. Rosch sold 57,103 shares of the company’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $27.42, for a total value of $1,565,764.26. Following the transaction, the executive vice president now directly owns 325,026 shares in the company, valued at approximately $8,912,212.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Nicholas R. Noviello sold 375,000 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $29.38, for a total value of $11,017,500.00. Following the completion of the transaction, the chief financial officer now owns 565,319 shares in the company, valued at $16,609,072.22. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Thrivent Financial For Lutherans boosted its holdings in shares of Symantec by 2.8% in the 2nd quarter. Thrivent Financial For Lutherans now owns 23,749 shares of the technology company’s stock worth $671,000 after purchasing an additional 645 shares in the last quarter. Mutual of America Capital Management LLC boosted its holdings in shares of Symantec by 2.5% in the 2nd quarter. Mutual of America Capital Management LLC now owns 96,019 shares of the technology company’s stock worth $2,713,000 after purchasing an additional 2,347 shares in the last quarter. FMR LLC boosted its holdings in shares of Symantec by 6.7% in the 2nd quarter. FMR LLC now owns 11,117,521 shares of the technology company’s stock worth $314,069,000 after purchasing an additional 696,910 shares in the last quarter. M&T Bank Corp boosted its holdings in shares of Symantec by 10.0% in the 2nd quarter. M&T Bank Corp now owns 42,847 shares of the technology company’s stock worth $1,210,000 after purchasing an additional 3,882 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Symantec in the 2nd quarter worth about $572,000. Institutional investors and hedge funds own 94.77% of the company’s stock.

Shares of Symantec (SYMC) traded up $0.56 on Friday, hitting $27.71. The company’s stock had a trading volume of 5,608,465 shares, compared to its average volume of 6,568,509. The company has a market capitalization of $16,832.51, a price-to-earnings ratio of -69.27, a PEG ratio of 2.75 and a beta of 1.08. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.12 and a current ratio of 1.12. Symantec has a 52-week low of $25.65 and a 52-week high of $34.20.

Symantec (NASDAQ:SYMC) last issued its earnings results on Wednesday, November 1st. The technology company reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.14. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. Symantec had a positive return on equity of 12.33% and a negative net margin of 5.29%. The business’s revenue was up 25.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 earnings per share. equities analysts forecast that Symantec will post 1.05 EPS for the current year.

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Symantec Company Profile

Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection and cyber security services. 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.

Analyst Recommendations for Symantec (NASDAQ:SYMC)

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