Symantec Corp. (SYMC) Now Covered by Analysts at FBN Securities
Research analysts at FBN Securities started coverage on shares of Symantec Corp. (NASDAQ:SYMC) in a note issued to investors on Thursday. The brokerage set an “outperform” rating on the stock.
Several other equities analysts have also recently weighed in on the stock. Wells Fargo & Co. reiterated a “hold” rating on shares of Symantec Corp. in a research note on Sunday, September 25th. Barclays PLC increased their price objective on shares of Symantec Corp. from $24.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, September 19th. Guggenheim assumed coverage on shares of Symantec Corp. in a research note on Wednesday, September 14th. They issued a “buy” rating and a $30.00 price objective on the stock. Wunderlich upgraded shares of Symantec Corp. from a “hold” rating to a “buy” rating and raised their target price for the stock from $23.00 to $30.00 in a research note on Tuesday, September 13th. Finally, BTIG Research restated a “buy” rating and set a $28.00 target price on shares of Symantec Corp. in a research note on Thursday, August 25th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $24.66.
Shares of Symantec Corp. (NASDAQ:SYMC) opened at 24.94 on Thursday. Symantec Corp. has a one year low of $16.14 and a one year high of $25.72. The company has a market capitalization of $15.35 billion, a price-to-earnings ratio of 6.50 and a beta of 1.10. The stock has a 50 day moving average of $24.77 and a 200-day moving average of $20.59.
Symantec Corp. (NASDAQ:SYMC) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.04. Symantec Corp. had a net margin of 60.18% and a return on equity of 13.56%. The firm had revenue of $884 million for the quarter, compared to analysts’ expectations of $876.96 million. During the same quarter in the prior year, the business earned $0.40 EPS. The business’s quarterly revenue was down 3.1% on a year-over-year basis. On average, equities analysts expect that Symantec Corp. will post $1.12 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Monday, August 22nd were given a $0.075 dividend. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $0.30 dividend on an annualized basis and a yield of 1.20%. Symantec Corp.’s dividend payout ratio is presently 7.79%.
In other news, EVP Francis C. Rosch sold 3,336 shares of Symantec Corp. stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $24.88, for a total transaction of $82,999.68. Following the completion of the sale, the executive vice president now directly owns 299,895 shares in the company, valued at $7,461,387.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Amy L. Cappellanti-Wolf sold 15,474 shares of Symantec Corp. stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $24.88, for a total value of $384,993.12. Following the sale, the senior vice president now owns 112,103 shares of the company’s stock, valued at $2,789,122.64. The disclosure for this sale can be found here. 0.76% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Charter Trust Co. increased its stake in Symantec Corp. by 0.5% in the second quarter. Charter Trust Co. now owns 17,824 shares of the company’s stock valued at $366,000 after buying an additional 93 shares during the period. Sumitomo Mitsui Asset Management Company LTD increased its stake in Symantec Corp. by 0.4% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 50,848 shares of the company’s stock valued at $1,044,000 after buying an additional 183 shares during the period. Capstone Asset Management Co. increased its stake in Symantec Corp. by 0.4% in the second quarter. Capstone Asset Management Co. now owns 52,031 shares of the company’s stock valued at $1,069,000 after buying an additional 193 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in Symantec Corp. by 1.9% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 22,870 shares of the company’s stock valued at $470,000 after buying an additional 427 shares during the period. Finally, Meeder Asset Management Inc. increased its stake in Symantec Corp. by 1.1% in the first quarter. Meeder Asset Management Inc. now owns 56,818 shares of the company’s stock valued at $1,043,000 after buying an additional 641 shares during the period. Institutional investors and hedge funds own 94.93% of the company’s stock.
Symantec Corp. Company Profile
Symantec Corporation provides security and information management solutions. The Company operates its business on a global civilian cyber intelligence threat network and tracks various threats across the Internet from mobile devices, endpoints, and servers across the world. It is developing solutions for cloud, threat protection, information protection and cyber security services.
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