BidaskClub downgraded shares of Symantec (NASDAQ:SYMC) from a sell rating to a strong sell rating in a report issued on Saturday, January 13th.
Other research analysts also recently issued research reports about the company. Piper Jaffray Companies set a $40.00 price objective on Symantec and gave the company a buy rating in a research note on Sunday, October 15th. Deutsche Bank assumed coverage on Symantec in a research note on Tuesday, December 19th. They issued a hold rating and a $30.00 price objective for the company. Stifel Nicolaus restated a hold rating and issued a $27.00 price objective on shares of Symantec in a research note on Friday, November 3rd. CIBC restated an outperform rating and issued a $33.00 price objective (down previously from $35.00) on shares of Symantec in a research note on Thursday, November 2nd. Finally, Oppenheimer reduced their price objective on Symantec from $35.00 to $33.00 and set an outperform rating for the company in a research note on Thursday, November 2nd. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have given a buy rating to the company. Symantec currently has an average rating of Hold and an average target price of $30.76.
Shares of Symantec (NASDAQ:SYMC) traded down $0.34 during trading on Friday, reaching $27.02. The company had a trading volume of 8,309,555 shares, compared to its average volume of 7,548,555. Symantec has a 1-year low of $25.65 and a 1-year high of $34.20. The company has a market capitalization of $16,751.91, a P/E ratio of 17.55, a P/E/G ratio of 2.73 and a beta of 0.90. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.15 and a quick ratio of 1.12.
Symantec (NASDAQ:SYMC) last announced its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.27 billion. Symantec had a return on equity of 14.26% and a net margin of 22.24%. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. sell-side analysts anticipate that Symantec will post 0.2 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Shareholders of record on Tuesday, February 20th will be issued a $0.075 dividend. The ex-dividend date is Friday, February 16th. This represents a $0.30 annualized dividend and a dividend yield of 1.11%. Symantec’s payout ratio is currently 19.48%.
In other Symantec news, CFO Nicholas R. Noviello sold 375,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $29.38, for a total value of $11,017,500.00. Following the sale, the chief financial officer now owns 565,319 shares of the company’s stock, valued at approximately $16,609,072.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Francis C. Rosch sold 57,103 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 325,026 shares in the company, valued at approximately $8,912,212.92. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the business. American Century Companies Inc. increased its position in shares of Symantec by 51.1% during the 4th quarter. American Century Companies Inc. now owns 2,424,645 shares of the technology company’s stock valued at $68,036,000 after purchasing an additional 819,773 shares during the last quarter. Sandy Spring Bank increased its position in shares of Symantec by 20.3% during the 4th quarter. Sandy Spring Bank now owns 149,460 shares of the technology company’s stock valued at $4,194,000 after purchasing an additional 25,255 shares during the last quarter. Public Employees Retirement Association of Colorado increased its position in shares of Symantec by 3.4% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 117,213 shares of the technology company’s stock valued at $3,289,000 after purchasing an additional 3,896 shares during the last quarter. CIBC Asset Management Inc increased its position in shares of Symantec by 3.1% during the 4th quarter. CIBC Asset Management Inc now owns 87,143 shares of the technology company’s stock valued at $2,445,000 after purchasing an additional 2,615 shares during the last quarter. Finally, CI Global Investments Inc. increased its position in shares of Symantec by 27.2% during the 4th quarter. CI Global Investments Inc. now owns 12,644,999 shares of the technology company’s stock valued at $354,819,000 after purchasing an additional 2,702,027 shares during the last quarter. 94.86% of the stock is currently owned by hedge funds and other institutional investors.
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Symantec Company Profile
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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