Symantec Corporation (SYMC) Given Consensus Recommendation of “Hold” by Analysts

Symantec Corporation (NASDAQ:SYMC) has been assigned an average rating of “Hold” from the twenty-seven brokerages that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $32.41.

SYMC has been the subject of several research reports. Stifel Nicolaus restated a “hold” rating and set a $27.00 price objective on shares of Symantec Corporation in a research report on Wednesday, July 19th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $32.00 target price on shares of Symantec Corporation in a report on Monday, July 31st. Robert W. Baird reaffirmed a “hold” rating on shares of Symantec Corporation in a report on Thursday, August 3rd. Evercore ISI set a $25.00 target price on shares of Symantec Corporation and gave the stock a “hold” rating in a report on Thursday, August 3rd. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $36.00 target price (down from $38.00) on shares of Symantec Corporation in a report on Thursday, August 3rd.

In other news, SVP Amy L. Cappellanti-Wolf sold 927 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $30.00, for a total transaction of $27,810.00. Following the completion of the sale, the senior vice president now directly owns 112,907 shares of the company’s stock, valued at $3,387,210. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Gregory S. Clark sold 186,433 shares of the business’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 sale, the chief executive officer now directly owns 1,321,671 shares of the company’s stock, valued at $39,650,130. The disclosure for this sale can be found here. Insiders have sold 671,985 shares of company stock worth $20,028,343 in the last quarter. Company insiders own 1.30% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Capital World Investors increased its position in shares of Symantec Corporation by 3.7% during the second quarter. Capital World Investors now owns 75,819,338 shares of the technology company’s stock worth $2,141,896,000 after acquiring an additional 2,695,567 shares in the last quarter. Vanguard Group Inc. grew its position in Symantec Corporation by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 61,195,217 shares of the technology company’s stock worth $1,728,766,000 after purchasing an additional 757,092 shares in the last quarter. Jackson Square Partners LLC boosted its stake in Symantec Corporation by 5.0% in the second quarter. Jackson Square Partners LLC now owns 20,071,586 shares of the technology company’s stock valued at $567,022,000 after acquiring an additional 964,537 shares during the last quarter. Coatue Management LLC boosted its stake in Symantec Corporation by 4.3% in the second quarter. Coatue Management LLC now owns 17,902,408 shares of the technology company’s stock valued at $505,743,000 after acquiring an additional 743,961 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake in Symantec Corporation by 1,784.9% in the second quarter. Capital Research Global Investors now owns 14,305,855 shares of the technology company’s stock valued at $404,140,000 after acquiring an additional 13,546,895 shares during the last quarter. 90.39% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: This news story was published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this news story on another website, it was illegally copied and republished in violation of U.S. & international copyright & trademark laws. The original version of this news story can be read at https://www.chaffeybreeze.com/2017/11/13/symantec-corporation-symc-given-consensus-recommendation-of-hold-by-analysts.html.

Shares of Symantec Corporation (NASDAQ SYMC) traded down $0.23 during trading hours on Monday, reaching $28.36. 4,592,800 shares of the company traded hands, compared to its average volume of 6,832,668. Symantec Corporation has a twelve month low of $23.20 and a twelve month high of $34.20. The firm has a market cap of $17,582.69, a P/E ratio of 45.02, a P/E/G ratio of 2.86 and a beta of 1.13. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.12 and a quick ratio of 1.12.

Symantec Corporation (NASDAQ:SYMC) last issued its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.14. The firm had revenue of $1.28 billion during 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 business’s revenue for the quarter was up 25.7% compared to the same quarter last year. During the same period last year, the business posted $0.30 earnings per share. equities research analysts anticipate that Symantec Corporation will post 1.05 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Monday, November 20th will be issued a $0.075 dividend. The ex-dividend date is Friday, November 17th. This represents a $0.30 annualized dividend and a yield of 1.06%. Symantec Corporation’s payout ratio is -75.00%.

About Symantec Corporation

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.

Analyst Recommendations for Symantec Corporation (NASDAQ:SYMC)

Receive News & Ratings for Symantec Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Symantec Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply