Shares of Symantec Co. (NASDAQ:SYMC) have been assigned an average recommendation of “Hold” from the twenty-four brokerages that are covering the stock. Two equities research analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $28.50.
Several research analysts have recently issued reports on SYMC shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $30.00 price target (up previously from $28.00) on shares of Symantec in a research note on Monday, January 30th. Wunderlich lifted their price target on Symantec from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, February 27th. Instinet reaffirmed a “neutral” rating and set a $27.00 price target (up previously from $25.00) on shares of Symantec in a research note on Sunday, February 5th. Morgan Stanley lifted their price target on Symantec from $33.00 to $37.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 22nd. Finally, Zacks Investment Research raised Symantec from a “sell” rating to a “hold” rating and set a $27.00 price target for the company in a research note on Tuesday, January 3rd.
In other Symantec news, COO Michael David Fey sold 13,215 shares of Symantec stock in a transaction dated Tuesday, January 17th. The stock was 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 approximately $7,475,239.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Suzanne M. Vautrinot sold 2,500 shares of Symantec stock in a transaction dated Friday, January 6th. The shares were sold at an average price of $25.00, for a total value of $62,500.00. The disclosure for this sale can be found here. Insiders sold a total of 99,732 shares of company stock valued at $2,728,370 in the last 90 days. 0.76% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the stock. Kwmg LLC acquired a new stake in Symantec during the third quarter valued at approximately $247,000. Saddle Road Partners LLC boosted its stake in Symantec by 2.8% in the third quarter. Saddle Road Partners LLC now owns 214,567 shares of the company’s stock valued at $5,386,000 after buying an additional 5,748 shares during the period. DG Capital Management Inc. acquired a new stake in Symantec during the third quarter valued at approximately $1,576,000. Parkwood LLC acquired a new stake in Symantec during the third quarter valued at approximately $278,000. Finally, Dowling & Yahnke LLC boosted its stake in Symantec by 5.8% in the third quarter. Dowling & Yahnke LLC now owns 23,248 shares of the company’s stock valued at $584,000 after buying an additional 1,274 shares during the period. Institutional investors own 93.90% of the company’s stock.
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Symantec (NASDAQ:SYMC) opened at 30.68 on Friday. The firm has a 50-day moving average of $29.39 and a 200-day moving average of $26.09. Symantec has a 52-week low of $16.25 and a 52-week high of $31.10. The firm has a market cap of $18.99 billion, a PE ratio of 9.24 and a beta of 1.17.
Symantec (NASDAQ:SYMC) last released its quarterly earnings results 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 business earned $1.09 billion during the quarter, compared to the consensus estimate of $1.08 billion. Symantec had a return on equity of 12.69% and a net margin of 55.12%. The business’s revenue was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.26 EPS. Equities analysts anticipate that Symantec will post $1.19 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Monday, February 20th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Thursday, February 16th. Symantec’s dividend payout ratio (DPR) is 9.35%.
Symantec 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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