Symantec Co. (SYMC) to Issue Quarterly Dividend of $0.08 on September 18th
Symantec Co. (NASDAQ:SYMC) declared a quarterly dividend on Thursday, August 8th, NASDAQ reports. Shareholders of record on Monday, August 26th will be paid a dividend of 0.075 per share by the technology company on Wednesday, September 18th. This represents a $0.30 annualized dividend and a yield of 1.26%. The ex-dividend date is Friday, August 23rd.
Symantec has decreased its dividend by an average of 20.6% annually over the last three years. Symantec has a dividend payout ratio of 33.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Symantec to earn $1.42 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 21.1%.
SYMC opened at $23.88 on Wednesday. Symantec has a 1-year low of $17.42 and a 1-year high of $26.07. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $14.75 billion, a price-to-earnings ratio of 20.41, a P/E/G ratio of 2.58 and a beta of 1.33. The business has a 50 day moving average of $23.13 and a 200-day moving average of $22.26.
Several equities research analysts have recently weighed in on the company. Cowen assumed coverage on Symantec in a research report on Thursday, May 23rd. They issued a “market perform” rating and a $22.00 price objective for the company. Evercore ISI set a $22.00 price objective on Symantec and gave the company a “hold” rating in a research report on Friday, August 9th. ValuEngine cut Symantec from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Morgan Stanley raised Symantec from an “underweight” rating to an “equal weight” rating and set a $27.00 price objective for the company in a research report on Friday, August 9th. Finally, Robert W. Baird reissued a “hold” rating and issued a $22.00 price objective on shares of Symantec in a research report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $22.77.
In other news, Director Peter A. Feld bought 1,325,814 shares of Symantec stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average cost of $22.95 per share, with a total value of $30,427,431.30. Following the completion of the transaction, the director now directly owns 24,685 shares in the company, valued at $566,520.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.90% of the stock is owned by company insiders.
Symantec Corporation provides cybersecurity products, services, and solutions worldwide. The company operates through two segments, Enterprise Security and Consumer Digital Safety. The Enterprise Security segment provides endpoint and information protection products, including endpoint security, advanced threat protection, and information protection solutions and their related support services; and network and Web security products, such as network security, Web security, and cloud security solutions and their related support services.
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