Symantec Corp. (SYMC) Hits New 12-Month High at $24.19
Symantec Corp. (NASDAQ:SYMC) reached a new 52-week high during trading on Monday . The stock traded as high as $24.19 and last traded at $24.16, with a volume of 3,616,861 shares traded. The stock had previously closed at $23.72.
Several equities research analysts have recently commented on SYMC shares. Piper Jaffray Cos. set a $27.00 target price on shares of Symantec Corp. and gave the stock a “buy” rating in a research report on Tuesday, August 23rd. BTIG Research restated a “buy” rating and set a $28.00 price target on shares of Symantec Corp. in a report on Thursday, August 25th. Citigroup Inc. upgraded shares of Symantec Corp. from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $7.50 to $26.50 in a report on Friday, August 19th. Wunderlich restated a “hold” rating and set a $19.00 price target on shares of Symantec Corp. in a report on Wednesday, June 15th. Finally, Royal Bank Of Canada restated a “buy” rating on shares of Symantec Corp. in a report on Monday, June 20th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and ten have given a buy rating to the stock. Symantec Corp. has an average rating of “Hold” and a consensus price target of $23.72.
The firm has a 50 day moving average price of $21.84 and a 200-day moving average price of $19.31. The stock has a market cap of $14.76 billion and a price-to-earnings ratio of 6.25.
Symantec Corp. (NASDAQ:SYMC) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The company earned $884 million during the quarter, compared to the consensus estimate of $876.96 million. The business’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 earnings per share. On average, equities research analysts forecast that Symantec Corp. will post $1.12 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 14th. Stockholders of record on Monday, August 22nd will be paid a $0.075 dividend. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.25%.
In related news, CAO Mark S. Garfield sold 11,852 shares of the firm’s stock in a transaction that occurred on Tuesday, June 14th. The shares were sold at an average price of $18.76, for a total value of $222,343.52. Following the transaction, the chief accounting officer now owns 68,489 shares of the company’s stock, valued at $1,284,853.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Suzanne M. Vautrinot sold 3,750 shares of the firm’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $20.39, for a total transaction of $76,462.50. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Symantec Corp. stock. BlackRock Advisors LLC raised its position in Symantec Corp. (NASDAQ:SYMC) by 27.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 734,592 shares of the company’s stock after buying an additional 160,350 shares during the period. BlackRock Advisors LLC owned 0.11% of Symantec Corp. worth $15,427,000 as of its most recent SEC filing.
Symantec Corporation provides security and information management solutions. The Company operates its business on a global civilian cyber intelligence threat network and tracks various threats across the Internet from mobile devices, endpoints, and servers across the world. It is developing solutions for cloud, threat protection, information protection and cyber security services.
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