Barclays PLC Reaffirms “Buy” Rating for Symantec Corporation (SYMC)

Barclays PLC reissued their buy rating on shares of Symantec Corporation (NASDAQ:SYMC) in a research report released on Thursday morning. The brokerage currently has a $36.00 price objective on the technology company’s stock.

Other equities analysts also recently issued research reports about the stock. BidaskClub raised shares of Symantec Corporation from a hold rating to a buy rating in a research note on Wednesday, July 12th. Zacks Investment Research raised shares of Symantec Corporation from a strong sell rating to a buy rating and set a $32.00 price objective on the stock in a research note on Tuesday, July 11th. Piper Jaffray Companies reaffirmed a buy rating and set a $40.00 price target on shares of Symantec Corporation in a research note on Tuesday, September 12th. Morgan Stanley downgraded shares of Symantec Corporation from an overweight rating to an equal weight rating and cut their price target for the stock from $37.00 to $34.00 in a research note on Tuesday, October 10th. Finally, Evercore ISI set a $25.00 price target on shares of Symantec Corporation and gave the stock a hold rating in a research note on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $31.79.

Shares of Symantec Corporation (NASDAQ:SYMC) traded up $0.50 on Thursday, hitting $29.88. 10,966,443 shares of the company traded hands, compared to its average volume of 5,533,243. The company has a quick ratio of 1.02, a current ratio of 1.12 and a debt-to-equity ratio of 1.72. The firm has a market cap of $18,359.38, a PE ratio of 47.42, a P/E/G ratio of 2.25 and a beta of 1.13.

Symantec Corporation (NASDAQ:SYMC) last announced its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.14. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. Symantec Corporation had a negative net margin of 5.29% and a positive return on equity of 12.33%. The company’s quarterly revenue was up 25.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 earnings per share. analysts forecast that Symantec Corporation will post 1.14 earnings per share for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Monday, November 20th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.00%. The ex-dividend date is Friday, November 17th. Symantec Corporation’s dividend payout ratio is currently -75.00%.

In other news, CEO Gregory S. Clark sold 13,567 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $30.00, for a total value of $407,010.00. Following the transaction, the chief executive officer now directly owns 1,148,805 shares in the company, valued at approximately $34,464,150. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gregory S. Clark sold 186,433 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $30.00, for a total transaction of $5,592,990.00. Following the completion of the transaction, the chief executive officer now owns 1,321,671 shares in the company, valued at $39,650,130. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,645,816 shares of company stock valued at $47,911,129. 1.30% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. lifted its position in shares of Symantec Corporation by 1.2% in the 2nd 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 last quarter. Wetherby Asset Management Inc. lifted its position in shares of Symantec Corporation by 2.8% in the 2nd 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 last quarter. Blair William & Co. IL lifted its position in shares of Symantec Corporation by 2.2% in the 2nd quarter. Blair William & Co. IL now owns 13,309 shares of the technology company’s stock worth $376,000 after buying an additional 291 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Symantec Corporation by 7.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,982 shares of the technology company’s stock valued at $112,000 after purchasing an additional 292 shares during the last quarter. Finally, Johnson Financial Group Inc. lifted its position in Symantec Corporation by 6.2% in the 2nd quarter. Johnson Financial Group Inc. now owns 5,596 shares of the technology company’s stock valued at $158,000 after purchasing an additional 325 shares during the last quarter. Institutional investors own 91.41% of the company’s stock.

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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