Symantec Corporation (SYMC) Now Covered by Analysts at Barclays PLC
Barclays PLC assumed coverage on shares of Symantec Corporation (NASDAQ:SYMC) in a research note issued to investors on Friday morning. The firm issued an equal weight rating and a $30.00 price objective on the stock.
A number of other brokerages have also commented on SYMC. Morgan Stanley reissued an overweight rating and set a $33.00 price objective on shares of Symantec Corporation in a report on Sunday, February 5th. Instinet reissued a neutral rating and set a $27.00 price objective (up previously from $25.00) on shares of Symantec Corporation in a report on Sunday, February 5th. JMP Securities increased their price objective on Symantec Corporation to $32.00 in a report on Thursday, February 2nd. Zacks Investment Research raised Symantec Corporation from a sell rating to a hold rating and set a $27.00 target price on the stock in a report on Tuesday, January 3rd. Finally, MKM Partners raised their target price on Symantec Corporation from $21.00 to $26.00 and gave the company a neutral rating in a report on Wednesday, November 2nd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Symantec Corporation currently has an average rating of Hold and a consensus target price of $27.81.
Shares of Symantec Corporation (NASDAQ:SYMC) traded down 0.18% during mid-day trading on Friday, hitting $28.47. The stock had a trading volume of 9,734,590 shares. Symantec Corporation has a one year low of $16.14 and a one year high of $29.35. The firm has a market cap of $17.62 billion, a price-to-earnings ratio of 8.58 and a beta of 1.17. The company has a 50-day moving average of $26.81 and a 200 day moving average of $24.85.
Symantec Corporation (NASDAQ:SYMC) last announced its quarterly earnings data on Wednesday, February 1st. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.04. The firm earned $1.09 billion during the quarter, compared to the consensus estimate of $1.08 billion. Symantec Corporation had a return on equity of 12.69% and a net margin of 55.12%. The business’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.26 EPS. On average, equities research analysts forecast that Symantec Corporation will post $1.19 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Monday, February 20th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, February 16th. This represents a $0.30 annualized dividend and a yield of 1.05%. Symantec Corporation’s dividend payout ratio is presently 9.35%.
In other news, EVP Scott C. Taylor sold 8,000 shares of the business’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $26.07, for a total value of $208,560.00. Following the sale, the executive vice president now directly owns 248,577 shares in the company, valued at $6,480,402.39. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Michael David Fey sold 13,215 shares of the business’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $25.87, for a total value of $341,872.05. Following the completion of the sale, the chief operating officer now owns 288,954 shares in the company, valued at $7,475,239.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,929 shares of company stock worth $2,553,971. Corporate insiders own 0.76% of the company’s stock.
Several hedge funds have recently modified their holdings of SYMC. Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Symantec Corporation by 0.4% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 50,848 shares of the company’s stock worth $1,044,000 after buying an additional 183 shares during the period. Minneapolis Portfolio Management Group LLC bought a new stake in Symantec Corporation during the second quarter valued at about $24,234,000. Matterhorn Capital Management LLC raised its stake in Symantec Corporation by 59.2% in the second quarter. Matterhorn Capital Management LLC now owns 329,162 shares of the company’s stock valued at $6,761,000 after buying an additional 122,406 shares during the last quarter. Hanlon Investment Management Inc. raised its stake in Symantec Corporation by 18.2% in the second quarter. Hanlon Investment Management Inc. now owns 256,653 shares of the company’s stock valued at $5,272,000 after buying an additional 39,500 shares during the last quarter. Finally, Bank of The West raised its stake in Symantec Corporation by 20.1% in the second quarter. Bank of The West now owns 54,341 shares of the company’s stock valued at $1,116,000 after buying an additional 9,102 shares during the last quarter. Institutional investors own 93.90% of the company’s stock.
Symantec Corporation Company Profile
Symantec Corporation is a United States-based cybersecurity company. The Company operates its business on a global civilian cyber intelligence threat network and tracks a range of threats across the Internet from various mobile devices, endpoints and servers across the globe. The Company’s segments include Consumer Security and Enterprise Security.
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