Barclays PLC Begins Coverage on Symantec Corporation (SYMC)
A number of other brokerages have also recently weighed in on SYMC. MKM Partners upped their price target on Symantec Corporation from $21.00 to $26.00 and gave the company a neutral rating in a research report on Wednesday, November 2nd. FBN Securities initiated coverage on Symantec Corporation in a report on Thursday, October 13th. They set an outperform rating and a $29.00 target price on the stock. Jefferies Group LLC restated a hold rating on shares of Symantec Corporation in a report on Wednesday, December 7th. Morgan Stanley restated an overweight rating and set a $33.00 target price on shares of Symantec Corporation in a report on Sunday, February 5th. Finally, Zacks Investment Research cut Symantec Corporation from a buy rating to a hold rating in a report on Tuesday, November 8th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company’s stock. Symantec Corporation presently has an average rating of Hold and an average price target of $27.81.
Shares of Symantec Corporation (NASDAQ:SYMC) traded down 0.18% during midday trading on Friday, reaching $28.47. 9,734,590 shares of the company’s stock traded hands. The firm has a market capitalization of $17.62 billion, a P/E ratio of 8.58 and a beta of 1.17. Symantec Corporation has a 52-week low of $16.14 and a 52-week high of $29.35. The stock’s 50 day moving average price is $26.81 and its 200 day moving average price is $24.85.
Symantec Corporation (NASDAQ:SYMC) last announced its quarterly earnings results on Wednesday, February 1st. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. Symantec Corporation had a return on equity of 12.69% and a net margin of 55.12%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the business posted $0.26 earnings per share. The business’s revenue was up 19.7% compared to the same quarter last year. On average, equities research analysts anticipate that Symantec Corporation will post $1.19 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Monday, February 20th will be given a dividend of $0.075 per share. The ex-dividend date is Thursday, February 16th. This represents a $0.30 dividend on an annualized basis and a yield of 1.05%. Symantec Corporation’s dividend payout ratio is currently 9.35%.
In related news, Director Suzanne M. Vautrinot sold 2,500 shares of the business’s stock in a transaction on Friday, January 6th. The stock was sold at an average price of $25.00, for a total transaction of $62,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael David Fey sold 13,214 shares of the business’s stock in a transaction on Thursday, December 15th. The stock was sold at an average price of $24.81, for a total value of $327,839.34. Following the sale, the insider now owns 288,953 shares in the company, valued at approximately $7,168,923.93. The disclosure for this sale can be found here. Insiders have sold a total of 100,929 shares of company stock worth $2,553,971 in the last 90 days. 0.76% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans increased its position in shares of Symantec Corporation by 7.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 21,684 shares of the company’s stock valued at $518,000 after buying an additional 1,560 shares during the last quarter. IFM Investors Pty Ltd bought a new position in shares of Symantec Corporation during the fourth quarter valued at approximately $202,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of Symantec Corporation during the fourth quarter valued at approximately $75,665,000. Empire Life Investments Inc. bought a new position in shares of Symantec Corporation during the fourth quarter valued at approximately $10,761,000. Finally, Barings LLC increased its position in shares of Symantec Corporation by 3.2% in the fourth quarter. Barings LLC now owns 147,034 shares of the company’s stock valued at $3,513,000 after buying an additional 4,500 shares during the last quarter. 93.90% of the stock is currently owned by hedge funds and other institutional investors.
Symantec Corporation Company Profile
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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