Symantec Corp. (SYMC) Given Consensus Recommendation of “Hold” by Analysts
Symantec Corp. (NASDAQ:SYMC) has received an average recommendation of “Hold” from the twenty-six analysts that are presently covering the company. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $25.54.
A number of equities research analysts recently weighed in on the stock. Bank of America Corp. set a $18.00 price target on shares of Symantec Corp. and gave the company a “sell” rating in a research report on Sunday, November 6th. RBC Capital Markets reissued an “outperform” rating and issued a $25.00 price target (up from $24.00) on shares of Symantec Corp. in a research report on Friday, August 5th. MKM Partners boosted their price target on shares of Symantec Corp. from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, August 2nd. Oppenheimer Holdings Inc. raised shares of Symantec Corp. from a “market perform” rating to an “outperform” rating and set a $28.00 price target for the company in a research report on Friday, August 5th. Finally, Zacks Investment Research cut shares of Symantec Corp. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 10th.
In other Symantec Corp. news, SVP Amy L. Cappellanti-Wolf sold 15,474 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Francis C. Rosch sold 3,336 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were 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 approximately $7,461,387.60. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Jackson Square Partners LLC acquired a new stake in shares of Symantec Corp. during the third quarter valued at about $565,123,000. Capital World Investors purchased a new position in shares of Symantec Corp. during the third quarter valued at about $241,211,000. Vanguard Group Inc. increased its position in shares of Symantec Corp. by 15.2% in the second quarter. Vanguard Group Inc. now owns 55,082,579 shares of the company’s stock valued at $1,131,397,000 after buying an additional 7,251,961 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Symantec Corp. by 16.5% in the second quarter. Franklin Resources Inc. now owns 43,491,263 shares of the company’s stock valued at $893,312,000 after buying an additional 6,147,041 shares during the last quarter. Finally, Slate Path Capital LP purchased a new position in shares of Symantec Corp. during the second quarter valued at about $113,073,000. 96.69% of the stock is currently owned by institutional investors.
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Shares of Symantec Corp. (NASDAQ:SYMC) opened at 24.82 on Wednesday. The firm has a market capitalization of $15.47 billion, a PE ratio of 7.17 and a beta of 1.23. The stock’s 50 day moving average price is $24.64 and its 200-day moving average price is $22.09. Symantec Corp. has a 52-week low of $16.14 and a 52-week high of $25.72.
Symantec Corp. (NASDAQ:SYMC) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.10. Symantec Corp. had a net margin of 60.52% and a return on equity of 11.62%. The firm earned $979 million during the quarter, compared to analysts’ expectations of $978.86 million. During the same period in the previous year, the company earned $0.44 earnings per share. Symantec Corp.’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities research analysts anticipate that Symantec Corp. will post $1.16 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 14th. Shareholders of record on Monday, November 21st will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Thursday, November 17th. Symantec Corp.’s dividend payout ratio (DPR) is presently 8.85%.
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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