Symantec Corporation (SYMC) Price Target Lowered to $33.00 at Oppenheimer Holdings, Inc.
Symantec Corporation (NASDAQ:SYMC) had its target price lowered by Oppenheimer Holdings, Inc. from $35.00 to $33.00 in a report released on Thursday. The firm currently has an outperform rating on the technology company’s stock.
SYMC has been the subject of several other research reports. Zacks Investment Research cut Symantec Corporation from a hold rating to a sell rating in a research report on Tuesday, October 3rd. Moffett Nathanson initiated coverage on Symantec Corporation in a research report on Wednesday, September 6th. They issued a neutral rating and a $33.00 price objective for the company. Credit Suisse Group initiated coverage on Symantec Corporation in a research report on Tuesday, September 5th. They issued an outperform rating and a $36.00 price objective for the company. Royal Bank Of Canada reiterated a hold rating and issued a $32.00 price objective on shares of Symantec Corporation in a research report on Monday, July 31st. Finally, Morgan Stanley reiterated an overweight rating and issued a $37.00 price objective on shares of Symantec Corporation in a research report on Thursday, July 13th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $31.52.
Symantec Corporation (NASDAQ:SYMC) traded down $2.28 during trading hours on Thursday, reaching $29.88. The company’s stock had a trading volume of 10,966,443 shares, compared to its average volume of 5,533,243. The stock has a market cap of $18,055.18, a PE ratio of 46.63, a PEG ratio of 2.22 and a beta of 1.13. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.12 and a quick ratio of 1.02.
Symantec Corporation (NASDAQ:SYMC) last released its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.14. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Symantec Corporation had a positive return on equity of 12.33% and a negative net margin of 5.29%. Symantec Corporation’s revenue was up 25.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.30 earnings per share. equities analysts expect that Symantec Corporation will post 1.18 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Monday, November 20th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Friday, November 17th. Symantec Corporation’s payout ratio is -75.00%.
In other Symantec Corporation news, SVP Amy L. Cappellanti-Wolf sold 2,163 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $29.85, for a total value of $64,565.55. Following the sale, the senior vice president now directly owns 115,997 shares of the company’s stock, valued at approximately $3,462,510.45. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Suzanne M. Vautrinot sold 2,500 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $32.81, for a total value of $82,025.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,645,816 shares of company stock worth $47,911,129. 1.30% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of SYMC. Capital World Investors raised its holdings in shares of Symantec Corporation by 3.7% in the 2nd quarter. Capital World Investors now owns 75,819,338 shares of the technology company’s stock worth $2,141,896,000 after purchasing an additional 2,695,567 shares during the period. Vanguard Group Inc. raised its holdings in shares of Symantec Corporation by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 61,195,217 shares of the technology company’s stock worth $1,728,766,000 after purchasing an additional 757,092 shares during the period. Jackson Square Partners LLC raised its holdings in shares of Symantec Corporation by 5.0% in the 2nd quarter. Jackson Square Partners LLC now owns 20,071,586 shares of the technology company’s stock worth $567,022,000 after purchasing an additional 964,537 shares during the period. Coatue Management LLC raised its holdings in shares of Symantec Corporation by 4.3% during the 2nd quarter. Coatue Management LLC now owns 17,902,408 shares of the technology company’s stock valued at $505,743,000 after buying an additional 743,961 shares during the period. Finally, Capital Research Global Investors raised its holdings in shares of Symantec Corporation by 1,784.9% during the 2nd quarter. Capital Research Global Investors now owns 14,305,855 shares of the technology company’s stock valued at $404,140,000 after buying an additional 13,546,895 shares during the period. 91.41% of the stock is currently owned by hedge funds and other institutional investors.
About Symantec Corporation
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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