Research analysts at Deutsche Bank initiated coverage on shares of Symantec (NASDAQ:SYMC) in a research report issued on Tuesday, December 19th, MarketBeat Ratings reports. The firm set a “hold” rating and a $30.00 price target on the technology company’s stock. Deutsche Bank’s price objective points to a potential upside of 4.09% from the stock’s current price.
A number of other equities research analysts also recently weighed in on the company. Credit Suisse Group started coverage on Symantec in a report on Tuesday, September 5th. They issued an “outperform” rating and a $36.00 price target for the company. Robert W. Baird reiterated a “hold” rating and issued a $32.00 price target on shares of Symantec in a report on Friday, September 8th. Morgan Stanley reduced their price objective on Symantec from $34.00 to $31.00 and set an “equal weight” rating for the company in a research report on Friday, November 3rd. Moffett Nathanson assumed coverage on Symantec in a research report on Wednesday, September 6th. They set a “neutral” rating and a $33.00 price objective for the company. Finally, CIBC restated an “outperform” rating and set a $33.00 price objective (down previously from $35.00) on shares of Symantec in a research report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the company’s stock. Symantec currently has a consensus rating of “Hold” and a consensus target price of $32.29.
Shares of Symantec (NASDAQ:SYMC) traded up $0.05 during trading hours on Tuesday, hitting $28.82. The company had a trading volume of 10,488,351 shares, compared to its average volume of 5,460,000. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.72. Symantec has a 1-year low of $25.64 and a 1-year high of $34.20. The stock has a market cap of $17,870.00, a P/E ratio of -49.69, a P/E/G ratio of 2.91 and a beta of 1.07.
Symantec (NASDAQ:SYMC) last posted its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.14. Symantec had a positive return on equity of 12.33% and a negative net margin of 5.29%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the business earned $0.30 EPS. Symantec’s revenue for the quarter was up 25.7% compared to the same quarter last year. equities research analysts expect that Symantec will post 1.05 EPS for the current year.
In related news, CFO Nicholas R. Noviello sold 375,000 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $29.38, for a total transaction of $11,017,500.00. Following the transaction, the chief financial officer now directly owns 565,319 shares of the company’s stock, valued at $16,609,072.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Francis C. Rosch sold 57,103 shares of the company’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $27.42, for a total value of $1,565,764.26. Following the transaction, the executive vice president now directly owns 325,026 shares in the company, valued at $8,912,212.92. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. New England Research & Management Inc. grew its stake in Symantec by 83.8% in the fourth quarter. New England Research & Management Inc. now owns 28,850 shares of the technology company’s stock valued at $810,000 after purchasing an additional 13,150 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in Symantec by 0.4% in the third quarter. Parametric Portfolio Associates LLC now owns 2,410,450 shares of the technology company’s stock valued at $79,087,000 after purchasing an additional 9,642 shares in the last quarter. Coastline Trust Co grew its stake in Symantec by 109.2% in the third quarter. Coastline Trust Co now owns 22,104 shares of the technology company’s stock valued at $725,000 after purchasing an additional 11,540 shares in the last quarter. Afam Capital Inc. grew its stake in Symantec by 1.8% in the third quarter. Afam Capital Inc. now owns 244,102 shares of the technology company’s stock valued at $8,009,000 after purchasing an additional 4,276 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its stake in Symantec by 2.5% in the third quarter. Neuberger Berman Group LLC now owns 7,499,042 shares of the technology company’s stock valued at $246,044,000 after purchasing an additional 183,766 shares in the last quarter. Hedge funds and other institutional investors own 94.74% of the company’s stock.
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Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection and cyber security services. 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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