Research Analysts’ Weekly Ratings Updates for Symantec (SYMC)

A number of firms have modified their ratings and price targets on shares of Symantec (NASDAQ: SYMC) recently:

  • 2/6/2018 – Symantec was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Symantec recently reported dismal Q3 top-line performance mainly due a faster-than-expected shift to ratable and subscription-based revenue model. However, management is optimistic about the shift as it promises long-term growth opportunities for the company. We believe that realignment of its sales force has helped it grabbing more deals worth above $1 million in the third quarter. The accelerated adoption of Symantec’s Integrated Cyber Defense Platform and cloud proxy solution is a major tailwind. Nonetheless, we consider that although the sale of its certified authority business will avoid conflicts with Alphabet, the loss of high margin business may hurt Symantec’s near-term profitability. Moreover, increasing competition from existing and newer companies remain headwinds. The uncertainty over PC sales adds to its woes. The stock has underperformed the industry in the last one year.”
  • 2/3/2018 – Symantec was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 2/1/2018 – Symantec had its “buy” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $31.00 price target on the stock.
  • 2/1/2018 – Symantec had its “hold” rating reaffirmed by analysts at Stephens. They now have a $29.00 price target on the stock.
  • 2/1/2018 – Symantec had its price target raised by analysts at Bank of America Corp from $19.00 to $21.00. They now have an “underperform” rating on the stock.
  • 2/1/2018 – Symantec had its price target lowered by analysts at Morgan Stanley from $33.00 to $31.00. They now have an “equal weight” rating on the stock.
  • 2/1/2018 – Symantec had its price target lowered by analysts at Barclays PLC from $36.00 to $34.00. They now have an “overweight” rating on the stock.
  • 2/1/2018 – Symantec had its “sell” rating reaffirmed by analysts at Cowen Inc. They now have a $26.00 price target on the stock.
  • 2/1/2018 – Symantec had its price target lowered by analysts at Stifel Nicolaus from $27.00 to $26.00. They now have a “hold” rating on the stock.
  • 2/1/2018 – Symantec had its “hold” rating reaffirmed by analysts at Robert W. Baird.
  • 2/1/2018 – Symantec had its “hold” rating reaffirmed by analysts at Evercore ISI. They now have a $25.00 price target on the stock.
  • 1/26/2018 – Symantec had its “hold” rating reaffirmed by analysts at Evercore ISI. They now have a $25.00 price target on the stock.
  • 1/22/2018 – Symantec was downgraded by analysts at Credit Suisse Group AG from an “outperform” rating to a “neutral” rating. They now have a $30.00 price target on the stock, down previously from $36.00.
  • 1/20/2018 – Symantec was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “Estimates have remained unchanged, of late, ahead of Symantec’s Q3 earnings release. The company has a mixed record of earnings surprises in recent quarters. We remain cautious about this internet-security provider's performance due to faster-than-expected shift in booking mix, which will have long-term benefits but will impede near-term revenue growth. Additionally, we consider that although the sale of its certified authority business will avoid conflicts with Alphabet, the loss of high-margin business might hurt Symantec’s profitability in the near future. Furthermore, changing customer spending behavior makes us pretty skeptical about its performance. Moreover, heightening competition from existing and new companies remain headwinds. The uncertainty over PC sales adds to its woes. The stock has underperformed the industry over the past year.”
  • 1/18/2018 – Symantec was downgraded by analysts at Jefferies Group LLC from a “hold” rating to an “underperform” rating. They now have a $23.00 price target on the stock, down previously from $30.00.
  • 1/13/2018 – Symantec was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 1/2/2018 – Symantec was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Estimates for internet security provider, Symantec, have been unchanged of late. We believe rise in demand for cybersecurity-related products due to continuously increasing global hacking events, along with acquisitions will drive Symantec’s near-term results. Notably, the stock has outperformed the industry in the last one year. Nonetheless, we consider that although the sale of its certified authority business will avoid conflicts with Alphabet, the loss of high margin business may hurt Symantec’s near-term profitability. Furthermore, changing customer spending behavior makes us pretty skeptical about Symantec’s near-term performance. Moreover, increasing competition from existing and newer companies remain headwinds. The uncertainty over PC sales adds to its woes. Nonetheless, the stock has underperformed the industry in the last one year.”
  • 12/19/2017 – Symantec is now covered by analysts at Deutsche Bank AG. They set a “hold” rating and a $30.00 price target on the stock.
  • 12/19/2017 – Symantec was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.

Shares of Symantec Corporation (SYMC) opened at $25.91 on Monday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.13. The stock has a market cap of $16,104.07, a PE ratio of 16.82, a PEG ratio of 2.97 and a beta of 0.90. Symantec Corporation has a fifty-two week low of $24.94 and a fifty-two week high of $34.20.

Symantec (NASDAQ:SYMC) last issued its earnings results on Wednesday, January 31st. The technology company reported $0.49 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.05. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Symantec had a net margin of 22.24% and a return on equity of 14.26%. Symantec’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 EPS. analysts predict that Symantec Corporation will post 0.99 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Tuesday, February 20th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.16%. Symantec’s payout ratio is 19.48%.

In other news, EVP Francis C. Rosch sold 57,103 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $27.42, for a total value of $1,565,764.26. Following the sale, the executive vice president now directly owns 325,026 shares of the company’s stock, valued at approximately $8,912,212.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently 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 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.

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