Several brokerages have updated their recommendations and price targets on shares of Symantec Corporation (NASDAQ: SYMC) in the last few weeks:

  • 8/9/2017 – Symantec Corporation had its “overweight” rating reaffirmed by analysts at Barclays PLC. They now have a $36.00 price target on the stock, down previously from $38.00.
  • 8/8/2017 – Symantec Corporation was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “Symantec is a world leader in Internet security technology. The prospects of cybersecurity companies look bright as the recent global hackings, like WannaCry and Petya, have started to adversely affect the top- and bottom-line results of various organizations. The silver lining in this entire episode will be the rise in demand for security-related products among companies and governments, in our opinion. We believe that this could bring Symantec back into the limelight. Moreover, investment in growth areas such as Enterprise Backup, Storage Management and Security businesses are likely to boost Symantec’s long-term prospects. Additionally, restructuring initiatives and synergies from acquisitions are likely to support the company’s bottom line. Nonetheless, smaller companies like Kaspersky are consistently launching comparable products. Also, competition from the likes of Microsoft, remain headwinds.”
  • 8/5/2017 – Symantec Corporation was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 8/4/2017 – Symantec Corporation had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings, Inc.. They now have a $35.00 price target on the stock, up previously from $33.00.
  • 8/3/2017 – Symantec Corporation had its “market perform” rating reaffirmed by analysts at Cowen and Company. They now have a $31.00 price target on the stock, down previously from $33.00.
  • 8/3/2017 – Symantec Corporation was given a new $25.00 price target on by analysts at Evercore ISI. They now have a “hold” rating on the stock.
  • 8/3/2017 – Symantec Corporation had its “hold” rating reaffirmed by analysts at Robert W. Baird.
  • 8/3/2017 – Symantec Corporation had its “overweight” rating reaffirmed by analysts at Barclays PLC. They now have a $36.00 price target on the stock, down previously from $38.00.
  • 7/31/2017 – Symantec Corporation had its “hold” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $32.00 price target on the stock.
  • 7/19/2017 – Symantec Corporation had its “hold” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $27.00 price target on the stock.
  • 7/13/2017 – Symantec Corporation had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $37.00 price target on the stock.
  • 7/12/2017 – Symantec Corporation was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 7/11/2017 – Symantec Corporation was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “buy” rating. They now have a $32.00 price target on the stock. According to Zacks, “Estimates have been stable ahead of Symantec’s first-quarter fiscal 2018 results. The prospects of cybersecurity companies look bright as the recent global hackings, like WannaCry and Petya, have started to adversely affect the top- and bottom-line results of various organizations like Mondelez, FedEx and Merck & Co. The silver lining in this entire episode will be the rise in demand for security-related products among companies and governments, in our opinion. We believe that this could bring Symantec back into the limelight. Moreover, the recent deal to acquire Israel-based Fireglass will further strengthen Symantec’s leadership position in Secure Web Gateway and Email protection, both delivered on premises and in the cloud. Nonetheless, smaller companies like Kaspersky are consistently launching comparable products. These, along with competition from the likes of Microsoft, remain headwinds.”
  • 6/29/2017 – Symantec Corporation was upgraded by analysts at Standpoint Research from a “hold” rating to a “buy” rating.
  • 6/15/2017 – Symantec Corporation was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.

Symantec Corporation (SYMC) traded down 2.66% during trading on Thursday, hitting $27.84. 8,540,202 shares of the stock traded hands. The firm’s 50-day moving average is $29.63 and its 200 day moving average is $29.80. Symantec Corporation has a 52 week low of $21.67 and a 52 week high of $33.22. The stock’s market cap is $17.06 billion.

Symantec Corporation (NASDAQ:SYMC) last announced its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Symantec Corporation had a positive return on equity of 10.73% and a negative net margin of 8.68%. The company’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.29 EPS. Equities research analysts forecast that Symantec Corporation will post $1.80 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 21st will be issued a dividend of $0.075 per share. The ex-dividend date is Thursday, August 17th. This represents a $0.30 annualized dividend and a yield of 1.08%. Symantec Corporation’s dividend payout ratio is currently -49.18%.

In other news, CAO Mark S. Garfield sold 18,069 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $29.39, for a total transaction of $531,047.91. Following the completion of the transaction, the chief accounting officer now directly owns 92,754 shares in the company, valued at approximately $2,726,040.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Anita M. Sands sold 2,000 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $30.16, for a total value of $60,320.00. Following the transaction, the director now owns 45,486 shares of the company’s stock, valued at $1,371,857.76. The disclosure for this sale can be found here. Insiders have sold a total of 1,537,774 shares of company stock valued at $44,666,616 over the last three months. Company insiders own 0.76% of the company’s stock.

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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