Symantec Corporation (NASDAQ:SYMC) had its price target cut by Oppenheimer Holdings, Inc. from $35.00 to $33.00 in a research report released on Thursday, Marketbeat Ratings reports. They currently have an outperform rating on the technology company’s stock.
Other research analysts have also issued research reports about the company. Barclays PLC reaffirmed an overweight rating and set a $36.00 price objective (down previously from $38.00) on shares of Symantec Corporation in a report on Thursday, August 3rd. Robert W. Baird reaffirmed a hold rating and set a $32.00 price objective on shares of Symantec Corporation in a report on Friday, September 8th. Royal Bank Of Canada reaffirmed a hold rating and set a $32.00 price objective on shares of Symantec Corporation in a report on Monday, July 31st. BidaskClub raised Symantec Corporation from a sell rating to a hold rating in a report on Wednesday, August 23rd. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $27.00 price objective on shares of Symantec Corporation in a report on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $31.79.
Symantec Corporation (SYMC) traded down $0.18 during trading hours on Thursday, hitting $29.70. The stock had a trading volume of 698,005 shares, compared to its average volume of 5,896,859. The firm has a market cap of $18,521.96, a price-to-earnings ratio of 47.42, a price-to-earnings-growth ratio of 2.34 and a beta of 1.13. The company has a quick ratio of 1.02, a current ratio of 1.12 and a debt-to-equity ratio of 1.72.
Symantec Corporation (NASDAQ:SYMC) last released its earnings results on Wednesday, November 1st. The technology company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.14. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. Symantec Corporation had a positive return on equity of 12.33% and a negative net margin of 5.29%. The company’s revenue for the quarter was up 25.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 earnings per share. research analysts expect that Symantec Corporation will post 1.14 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Monday, November 20th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Friday, November 17th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.01%. Symantec Corporation’s dividend payout ratio (DPR) is currently -75.00%.
In other Symantec Corporation news, Director Suzanne M. Vautrinot sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $32.81, for a total transaction of $82,025.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott C. Taylor sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $30.00, for a total value of $450,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,645,816 shares of company stock valued at $47,911,129. Insiders own 1.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of SYMC. Thrivent Financial For Lutherans grew its stake in Symantec Corporation by 6.5% during the 1st quarter. Thrivent Financial For Lutherans now owns 23,104 shares of the technology company’s stock valued at $709,000 after purchasing an additional 1,420 shares in the last quarter. Xact Kapitalforvaltning AB grew its stake in Symantec Corporation by 1.8% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 89,936 shares of the technology company’s stock valued at $2,541,000 after purchasing an additional 1,586 shares in the last quarter. Charter Trust Co. grew its position in shares of Symantec Corporation by 9.0% in the 2nd quarter. Charter Trust Co. now owns 40,601 shares of the technology company’s stock worth $1,147,000 after acquiring an additional 3,366 shares in the last quarter. Capstone Asset Management Co. grew its position in shares of Symantec Corporation by 2.1% in the 2nd quarter. Capstone Asset Management Co. now owns 51,974 shares of the technology company’s stock worth $1,468,000 after acquiring an additional 1,081 shares in the last quarter. Finally, New England Research & Management Inc. acquired a new position in shares of Symantec Corporation in the 2nd quarter worth approximately $345,000. Hedge funds and other institutional investors own 91.54% 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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