Symantec (NASDAQ: SYMC) recently received a number of ratings updates from brokerages and research firms:

  • 8/21/2018 – Symantec was upgraded by analysts at Susquehanna Bancshares Inc from a “neutral” rating to a “positive” rating. They now have a $23.00 price target on the stock, up previously from $21.00.
  • 8/21/2018 – Symantec was upgraded by analysts at UBS Group AG from a “neutral” rating to a “positive” rating.
  • 8/21/2018 – Symantec was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 8/17/2018 – Symantec had its price target raised by analysts at Deutsche Bank AG from $18.00 to $20.00. They now have a “hold” rating on the stock.
  • 8/6/2018 – Symantec had its price target lowered by analysts at Barclays PLC from $23.00 to $21.00. They now have an “equal weight” rating on the stock.
  • 8/3/2018 – Symantec had its price target lowered by analysts at UBS Group AG from $23.00 to $21.00. They now have a “neutral” rating on the stock.
  • 8/3/2018 – Symantec had its price target lowered by analysts at Stifel Nicolaus from $21.00 to $19.00. They now have a “hold” rating on the stock.
  • 8/3/2018 – Symantec had its “hold” rating reaffirmed by analysts at Evercore ISI. They now have a $22.00 price target on the stock.
  • 8/2/2018 – Symantec was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/30/2018 – Symantec had its price target lowered by analysts at Bank of America Corp from $21.00 to $19.00. They now have an “underperform” rating on the stock.
  • 7/24/2018 – Symantec was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/10/2018 – Symantec was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “Symantec provides a broad range of content security and information backup solutions to individuals and enterprises.  The innovative products and solutions that Symantec offer will help it win customers, thereby increasing its business volume. We believe rise in demand for cybersecurity-related products due to continuously increasing global hacking events, along with acquisitions, are likely to drive Symantec’s near-term results.  Estimates have been stable lately ahead of the company’s Q1 earnings release. Nonetheless, Symantec's margins are anticipated to remain under pressure due to continued shift of the company’s business model to ratable revenues, and increased investment in sales and marketing capacity, which makes us cautious about its near-term performance.  The stock has underperformed the industry on a year-to-date basis.  The company has mixed record of earnings surprises in recent quarters.”
  • 7/6/2018 – Symantec was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.

NASDAQ SYMC opened at $20.11 on Friday. The firm has a market cap of $12.59 billion, a price-to-earnings ratio of 21.17, a P/E/G ratio of 2.85 and a beta of 0.67. The company has a current ratio of 1.16, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85. Symantec Co. has a fifty-two week low of $17.81 and a fifty-two week high of $34.20.

Symantec (NASDAQ:SYMC) last released its quarterly earnings data on Thursday, August 2nd. The technology company reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.01. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.15 billion. Symantec had a return on equity of 14.54% and a net margin of 25.52%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 earnings per share. equities analysts anticipate that Symantec Co. will post 0.9 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 12th. Shareholders of record on Monday, August 20th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Friday, August 17th. Symantec’s dividend payout ratio (DPR) is currently 31.58%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Asia Hong Kong Ltd acquired a new position in Symantec during the first quarter worth $109,000. Optimum Investment Advisors acquired a new position in Symantec during the first quarter worth $129,000. Dupont Capital Management Corp boosted its stake in Symantec by 117.9% during the first quarter. Dupont Capital Management Corp now owns 5,265 shares of the technology company’s stock worth $136,000 after buying an additional 2,849 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in Symantec during the second quarter worth $150,000. Finally, Cerebellum GP LLC boosted its stake in Symantec by 47.9% during the second quarter. Cerebellum GP LLC now owns 8,295 shares of the technology company’s stock worth $171,000 after buying an additional 2,685 shares during the last quarter. 92.26% of the stock is currently owned by institutional investors.

Symantec Corporation, together with its subsidiaries, provides cybersecurity solutions worldwide. It operates through two segments, Consumer Digital Safety and Enterprise Security. The Consumer Digital Safety segment provides Norton-branded services that provide multi-layer security services across desktop and mobile operating systems, public Wi-Fi connections, and home networks to defend against online threats to individuals, families, and small businesses.

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