Robert W. Baird Reaffirms Hold Rating for Symantec Corporation (NASDAQ:SYMC)
Other analysts also recently issued research reports about the stock. Goldman Sachs Group Inc reiterated a buy rating and issued a $36.00 target price on shares of Symantec Corporation in a report on Friday, June 9th. Standpoint Research upgraded shares of Symantec Corporation from a hold rating to a buy rating in a report on Thursday, June 29th. Zacks Investment Research upgraded shares of Symantec Corporation from a strong sell rating to a buy rating and set a $32.00 target price for the company in a report on Tuesday, July 11th. BidaskClub upgraded shares of Symantec Corporation from a hold rating to a buy rating in a report on Wednesday, July 12th. Finally, Stifel Nicolaus reiterated a hold rating and issued a $29.00 target price (up previously from $28.00) on shares of Symantec Corporation in a report on Thursday, May 11th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and fourteen have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $31.00.
Symantec Corporation (NASDAQ:SYMC) opened at 29.17 on Thursday. The company has a 50-day moving average price of $29.53 and a 200 day moving average price of $29.72. Symantec Corporation has a 52 week low of $20.47 and a 52 week high of $33.22. The company’s market cap is $17.76 billion.
Symantec Corporation (NASDAQ:SYMC) last posted its earnings results on Wednesday, August 2nd. The technology company reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.03. Symantec Corporation had a negative net margin of 8.68% and a positive return on equity of 10.73%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the firm earned $0.29 EPS. The firm’s revenue for the quarter was up 38.9% on a year-over-year basis. On average, equities research analysts forecast that Symantec Corporation will post $1.80 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Monday, August 21st will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.03%. Symantec Corporation’s payout ratio is currently -49.18%.
In related news, EVP Scott C. Taylor sold 15,000 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $31.04, for a total value of $465,600.00. Following the completion of the sale, the executive vice president now directly owns 257,591 shares of the company’s stock, valued at $7,995,624.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Suzanne M. Vautrinot sold 2,500 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $28.45, for a total transaction of $71,125.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 188,943 shares of company stock valued at $5,766,330. Insiders own 0.76% of the company’s stock.
A number of large investors have recently made changes to their positions in SYMC. IFP Advisors Inc boosted its stake in shares of Symantec Corporation by 0.3% in the first quarter. IFP Advisors Inc now owns 6,283 shares of the technology company’s stock worth $193,000 after buying an additional 19 shares during the period. Bessemer Group Inc. boosted its stake in shares of Symantec Corporation by 1.2% in the second quarter. Bessemer Group Inc. now owns 9,311 shares of the technology company’s stock worth $263,000 after buying an additional 106 shares during the period. Mason Street Advisors LLC boosted its stake in shares of Symantec Corporation by 0.3% in the first quarter. Mason Street Advisors LLC now owns 85,518 shares of the technology company’s stock worth $2,624,000 after buying an additional 237 shares during the period. Wetherby Asset Management Inc. boosted its stake in shares of Symantec Corporation by 2.8% in the second quarter. Wetherby Asset Management Inc. now owns 8,885 shares of the technology company’s stock worth $251,000 after buying an additional 246 shares during the period. Finally, Greenwood Capital Associates LLC boosted its stake in shares of Symantec Corporation by 1.7% in the first quarter. Greenwood Capital Associates LLC now owns 15,210 shares of the technology company’s stock worth $467,000 after buying an additional 255 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.
Symantec Corporation Company Profile
Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. 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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