Symantec Corp. (SYMC) Stock Rating Reaffirmed by JMP Securities
Symantec Corp. (NASDAQ:SYMC)‘s stock had its “buy” rating reissued by equities research analysts at JMP Securities in a research report issued on Tuesday.
SYMC has been the subject of a number of other reports. MKM Partners raised their price target on Symantec Corp. from $21.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, November 2nd. FBN Securities started coverage on Symantec Corp. in a report on Thursday, October 13th. They issued an “outperform” rating and a $29.00 price target for the company. Royal Bank Of Canada raised their price target on Symantec Corp. from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. Zacks Investment Research raised Symantec Corp. from a “hold” rating to a “strong-buy” rating and set a $25.00 price target for the company in a report on Tuesday, August 9th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and issued a $25.00 price target (up from $24.00) on shares of Symantec Corp. in a report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have issued a buy rating to the company. Symantec Corp. presently has a consensus rating of “Hold” and a consensus price target of $25.44.
Symantec Corp. (NASDAQ:SYMC) opened at 24.85 on Tuesday. The company has a market capitalization of $15.49 billion, a P/E ratio of 7.18 and a beta of 1.23. Symantec Corp. has a 1-year low of $16.14 and a 1-year high of $25.72. The firm has a 50-day moving average price of $24.68 and a 200-day moving average price of $22.03.
Symantec Corp. (NASDAQ:SYMC) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.10. Symantec Corp. had a return on equity of 11.62% and a net margin of 60.52%. The business earned $979 million during the quarter, compared to analyst estimates of $978.86 million. During the same period in the prior year, the company earned $0.44 earnings per share. Symantec Corp.’s revenue was up 8.1% compared to the same quarter last year. On average, analysts forecast that Symantec Corp. will post $1.16 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Monday, November 21st will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $0.30 annualized dividend and a yield of 1.21%. Symantec Corp.’s payout ratio is 8.85%.
In other Symantec Corp. news, EVP Francis C. Rosch sold 3,336 shares of Symantec Corp. stock in a transaction that occurred 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 sale, the executive vice president now directly owns 299,895 shares of the company’s stock, valued at approximately $7,461,387.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Scott C. Taylor sold 40,000 shares of Symantec Corp. stock in a transaction that occurred on Tuesday, October 25th. The shares were sold at an average price of $25.00, for a total value of $1,000,000.00. Following the sale, the executive vice president now directly owns 272,577 shares in the company, valued at $6,814,425. The disclosure for this sale can be found here. Company insiders own 0.76% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP raised its position in Symantec Corp. by 22.3% in the second quarter. GSA Capital Partners LLP now owns 170,877 shares of the company’s stock valued at $3,510,000 after buying an additional 31,143 shares during the last quarter. Americafirst Capital Management LLC acquired a new position in Symantec Corp. during the second quarter valued at about $109,000. Capstone Asset Management Co. raised its position 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 last quarter. River & Mercantile Asset Management LLP raised its position in Symantec Corp. by 181.4% in the second quarter. River & Mercantile Asset Management LLP now owns 131,540 shares of the company’s stock valued at $2,701,000 after buying an additional 84,800 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. raised its position in Symantec Corp. by 19.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 4,384,206 shares of the company’s stock valued at $90,051,000 after buying an additional 706,700 shares during the last quarter. 96.69% of the stock is currently owned by institutional investors and hedge funds.
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About Symantec Corp.
Symantec Corporation is a United States-based cybersecurity company. The Company operates its business on a global civilian cyber intelligence threat network and tracks a range of threats across the Internet from various mobile devices, endpoints and servers across the globe. The Company’s segments include Consumer Security and Enterprise Security.
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