Symantec Corp. (NASDAQ:SYMC)‘s stock had its “hold” rating reissued by equities research analysts at Wells Fargo & Co. in a report released on Sunday.
Other research analysts have also issued research reports about the company. Evercore ISI upgraded Symantec Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, June 29th. MKM Partners raised their target price on Symantec Corp. from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Tuesday, August 2nd. RBC Capital Markets restated an “outperform” rating and issued a $25.00 target price (up previously from $24.00) on shares of Symantec Corp. in a report on Friday, August 5th. Piper Jaffray Cos. restated an “overweight” rating and issued a $24.00 target price on shares of Symantec Corp. in a report on Tuesday, July 5th. Finally, Oppenheimer Holdings Inc. upgraded Symantec Corp. from a “market perform” rating to an “outperform” rating and set a $28.00 target price on the stock in a report on Friday, August 5th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Symantec Corp. has an average rating of “Hold” and a consensus price target of $24.42.
Symantec Corp. (NASDAQ:SYMC) opened at 25.04 on Friday. The firm has a 50-day moving average price of $23.86 and a 200-day moving average price of $19.96. The firm has a market capitalization of $15.41 billion, a price-to-earnings ratio of 6.53 and a beta of 1.07. Symantec Corp. has a one year low of $16.14 and a one year high of $25.37.
Symantec Corp. (NASDAQ:SYMC) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.04. Symantec Corp. had a return on equity of 13.56% and a net margin of 60.18%. The firm earned $884 million during the quarter, compared to analysts’ expectations of $876.96 million. During the same quarter last year, the firm posted $0.40 earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. Analysts expect that Symantec Corp. will post $1.12 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Investors of record on Monday, August 22nd were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Thursday, August 18th. Symantec Corp.’s payout ratio is 7.79%.
In related news, EVP Francis C. Rosch sold 3,336 shares of the business’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $24.88, for a total transaction of $82,999.68. Following the transaction, the executive vice president now owns 299,895 shares in the company, valued at approximately $7,461,387.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Suzanne M. Vautrinot sold 3,750 shares of the business’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $20.22, for a total value of $75,825.00. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. 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 worth $1,131,397,000 after buying an additional 7,251,961 shares in the last quarter. Elliott Management Corp increased its position in shares of Symantec Corp. by 130.5% in the first quarter. Elliott Management Corp now owns 11,527,275 shares of the company’s stock worth $211,871,000 after buying an additional 6,527,275 shares in 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 worth $893,312,000 after buying an additional 6,147,041 shares in the last quarter. Slate Path Capital LP acquired a new position in shares of Symantec Corp. during the second quarter worth about $113,073,000. Finally, Orbis Allan Gray Ltd acquired a new position in shares of Symantec Corp. during the first quarter worth about $79,811,000. Institutional investors own 94.93% of the company’s stock.
About Symantec Corp.
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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