Symantec Corp. (SYMC) Receives New Coverage from Analysts at FBN Securities
A number of other equities research analysts have also recently commented on SYMC. Raymond James Financial Inc. reaffirmed a market perform rating on shares of Symantec Corp. in a report on Wednesday, June 15th. Nomura reaffirmed a hold rating on shares of Symantec Corp. in a report on Wednesday, June 15th. Wunderlich reaffirmed a hold rating and issued a $19.00 target price on shares of Symantec Corp. in a report on Wednesday, June 15th. Wells Fargo & Co. reaffirmed a market perform rating and issued a $24.00 target price (up from $20.00) on shares of Symantec Corp. in a report on Friday, August 5th. Finally, JMP Securities reaffirmed a buy rating on shares of Symantec Corp. in a report on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of $24.87.
Symantec Corp. (NASDAQ:SYMC) traded down 0.391% during midday trading on Thursday, reaching $24.185. The company had a trading volume of 2,388,148 shares. The stock has a market capitalization of $14.89 billion, a PE ratio of 6.308 and a beta of 1.10. The firm’s 50 day moving average is $24.79 and its 200 day moving average is $20.62. Symantec Corp. has a 1-year low of $16.14 and a 1-year high of $25.72.
Symantec Corp. (NASDAQ:SYMC) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. Symantec Corp. had a net margin of 60.18% and a return on equity of 13.56%. The firm earned $884 million during the quarter, compared to analysts’ expectations of $876.96 million. During the same period in the previous year, the company earned $0.40 earnings per share. Symantec Corp.’s quarterly revenue was down 3.1% compared to the same quarter last year. On average, equities analysts anticipate that Symantec Corp. will post $1.12 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Monday, August 22nd were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Thursday, August 18th. Symantec Corp.’s payout ratio is 7.79%.
In related news, EVP Francis C. Rosch sold 3,336 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $24.88, for a total transaction of $82,999.68. Following the transaction, the executive vice president now owns 299,895 shares of the company’s stock, valued at $7,461,387.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Amy L. Cappellanti-Wolf sold 15,474 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $24.88, for a total transaction of $384,993.12. Following the transaction, the senior vice president now directly owns 112,103 shares in the company, valued at approximately $2,789,122.64. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Americafirst Capital Management LLC bought a new position in Symantec Corp. during the second quarter worth $109,000. Tower Research Capital LLC TRC increased its position in Symantec Corp. by 339.8% in the second quarter. Tower Research Capital LLC TRC now owns 5,317 shares of the company’s stock worth $109,000 after buying an additional 4,108 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co increased its position in Symantec Corp. by 23.4% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 5,800 shares of the company’s stock worth $119,000 after buying an additional 1,100 shares in the last quarter. Johnson Financial Group Inc. increased its position in Symantec Corp. by 10,503.6% in the second quarter. Johnson Financial Group Inc. now owns 5,938 shares of the company’s stock worth $122,000 after buying an additional 5,882 shares in the last quarter. Finally, Global X Management Co. LLC increased its position in Symantec Corp. by 89.0% in the second quarter. Global X Management Co. LLC now owns 6,211 shares of the company’s stock worth $128,000 after buying an additional 2,924 shares in the last quarter. 94.93% of the stock is currently owned by institutional investors and hedge funds.
Symantec Corp. Company Profile
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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