Symantec Corp. (SYMC) Sets New 1-Year High at $24.19
Symantec Corp. (NASDAQ:SYMC)’s share price hit a new 52-week high on Monday . The company 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.
A number of equities analysts recently weighed in on SYMC shares. Citigroup Inc. upgraded shares of Symantec Corp. from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $7.50 to $26.50 in a report on Friday, August 19th. Royal Bank Of Canada boosted their price objective on shares of Symantec Corp. from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. Zacks Investment Research lowered shares of Symantec Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 10th. Standpoint Research lowered shares of Symantec Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. Finally, Morgan Stanley restated an “overweight” rating and issued a $27.00 price objective on shares of Symantec Corp. in a report on Monday, August 15th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $23.72.
The stock’s 50 day moving average is $21.66 and its 200 day moving average is $19.23. The firm has a market cap of $14.88 billion and a PE ratio of 6.305.
Symantec Corp. (NASDAQ:SYMC) last issued its earnings results on Thursday, August 4th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.04. During the same period last year, the business earned $0.40 EPS. The business had revenue of $884 million for the quarter, compared to analysts’ expectations of $876.96 million. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, equities analysts anticipate that Symantec Corp. will post $1.12 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 14th. Shareholders of record on Monday, August 22nd will be issued 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 yield of 1.26%.
In other Symantec Corp. news, CAO Mark S. Garfield sold 11,852 shares of Symantec Corp. stock in a transaction 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 completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Suzanne M. Vautrinot sold 3,750 shares of Symantec Corp. stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $19.00, for a total transaction of $71,250.00. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently added to or reduced their stakes in the stock. American International Group Inc. boosted its position in Symantec Corp. by 25.2% in the fourth quarter. American International Group Inc. now owns 16,451,830 shares of the company’s stock worth $345,489,000 after buying an additional 3,315,714 shares during the last quarter. BlackRock Advisors LLC boosted its position in Symantec Corp. by 27.9% in the fourth quarter. BlackRock Advisors LLC now owns 734,592 shares of the company’s stock worth $15,427,000 after buying an additional 160,350 shares during the last quarter. Finally, I.G. Investment Management LTD. boosted its position in Symantec Corp. by 4.0% in the fourth quarter. I.G. Investment Management LTD. now owns 404,210 shares of the company’s stock worth $8,488,000 after buying an additional 15,500 shares during the last quarter.
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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