Robert W. Baird Reiterates Hold Rating for Symantec Corporation (SYMC)
Robert W. Baird restated their hold rating on shares of Symantec Corporation (NASDAQ:SYMC) in a research report report published on Friday morning. Robert W. Baird currently has a $32.00 target price on the technology company’s stock.
SYMC has been the topic of several other research reports. Zacks Investment Research upgraded shares of Symantec Corporation from a strong sell rating to a buy rating and set a $32.00 target price on the stock in a report on Tuesday, July 11th. Morgan Stanley restated an overweight rating and issued a $37.00 target price on shares of Symantec Corporation in a report on Thursday, July 13th. Stifel Nicolaus restated a hold rating and issued a $27.00 target price on shares of Symantec Corporation in a report on Wednesday, July 19th. Barclays PLC upgraded shares of Symantec Corporation from an equal weight rating to an overweight rating and raised their target price for the stock from $34.00 to $38.00 in a report on Tuesday, May 30th. Finally, BidaskClub upgraded shares of Symantec Corporation from a hold rating to a buy rating in a report on Wednesday, July 12th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company. Symantec Corporation currently has a consensus rating of Hold and an average target price of $31.30.
Symantec Corporation (NASDAQ:SYMC) opened at 32.75 on Friday. Symantec Corporation has a 52-week low of $22.76 and a 52-week high of $33.22. The firm’s 50 day moving average is $29.65 and its 200 day moving average is $29.99. The company’s market cap is $20.07 billion.
Symantec Corporation (NASDAQ:SYMC) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. Symantec Corporation had a negative net margin of 8.68% and a positive return on equity of 10.73%. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the prior year, the company posted $0.29 earnings per share. The business’s revenue for the quarter was up 38.9% on a year-over-year basis. Analysts forecast that Symantec Corporation will post $1.81 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Monday, August 21st will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $0.30 annualized dividend and a dividend yield of 0.92%. Symantec Corporation’s payout ratio is -49.18%.
In other news, Director Suzanne M. Vautrinot sold 2,500 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $28.45, for a total transaction of $71,125.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Amy L. Cappellanti-Wolf sold 927 shares of the firm’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $30.00, for a total transaction of $27,810.00. Following the sale, the senior vice president now owns 112,907 shares in the company, valued at $3,387,210. The disclosure for this sale can be found here. Insiders have sold a total of 1,657,621 shares of company stock worth $48,174,811 over the last 90 days. Insiders own 1.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its position in shares of Symantec Corporation by 7.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,982 shares of the technology company’s stock valued at $112,000 after purchasing an additional 292 shares during the period. Sun Life Financial INC raised its position in shares of Symantec Corporation by 44,100.0% during the 2nd quarter. Sun Life Financial INC now owns 4,420 shares of the technology company’s stock valued at $125,000 after purchasing an additional 4,410 shares during the period. Harfst & Associates Inc. bought a new stake in shares of Symantec Corporation during the 2nd quarter valued at $127,000. Johnson Financial Group Inc. raised its position in shares of Symantec Corporation by 6.2% during the 2nd quarter. Johnson Financial Group Inc. now owns 5,596 shares of the technology company’s stock valued at $158,000 after purchasing an additional 325 shares during the period. Finally, American Asset Management Inc. bought a new stake in shares of Symantec Corporation during the 1st quarter valued at $207,000. Hedge funds and other institutional investors own 91.72% 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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