Symantec Co. (NASDAQ:SYMC) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Symantec Co. (NASDAQ:SYMC) have been assigned an average rating of “Hold” from the seventeen ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $22.73.
SYMC has been the topic of several research analyst reports. Morgan Stanley raised shares of Symantec from an “underweight” rating to an “equal weight” rating and set a $27.00 price target on the stock in a research report on Friday, August 9th. William Blair reaffirmed a “market perform” rating on shares of Symantec in a research report on Friday, August 9th. Evercore ISI set a $22.00 price target on shares of Symantec and gave the stock a “hold” rating in a research report on Friday, August 9th. Mizuho raised shares of Symantec from a “neutral” rating to a “buy” rating and increased their price target for the stock from $22.00 to $23.00 in a research report on Monday, June 17th. Finally, Zacks Investment Research raised shares of Symantec from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th.
In related news, Director Peter A. Feld purchased 1,325,814 shares of Symantec stock in a transaction dated Wednesday, August 14th. The shares were acquired at an average price of $22.95 per share, with a total value of $30,427,431.30. Following the completion of the transaction, the director now owns 24,685 shares of the company’s stock, valued at approximately $566,520.75. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.90% of the company’s stock.
NASDAQ:SYMC traded down $0.31 on Friday, reaching $23.22. The stock had a trading volume of 8,244,892 shares, compared to its average volume of 9,282,590. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.79. The company has a 50-day moving average of $23.10 and a 200 day moving average of $22.27. The stock has a market cap of $14.54 billion, a P/E ratio of 19.85, a price-to-earnings-growth ratio of 2.58 and a beta of 1.33. Symantec has a 12-month low of $17.42 and a 12-month high of $26.07.
Symantec (NASDAQ:SYMC) last posted its quarterly earnings data on Thursday, August 8th. The technology company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.11. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Symantec had a net margin of 2.43% and a return on equity of 14.94%. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.34 EPS. On average, equities analysts predict that Symantec will post 1.33 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Monday, August 26th will be given a dividend of $0.075 per share. The ex-dividend date is Friday, August 23rd. This represents a $0.30 annualized dividend and a dividend yield of 1.29%. Symantec’s payout ratio is 25.64%.
Symantec Corporation provides cybersecurity products, services, and solutions worldwide. The company operates through two segments, Enterprise Security and Consumer Digital Safety. The Enterprise Security segment provides endpoint and information protection products, including endpoint security, advanced threat protection, and information protection solutions and their related support services; and network and Web security products, such as network security, Web security, and cloud security solutions and their related support services.
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