Symantec (NASDAQ:SYMC) had its target price upped by Robert W. Baird from $22.00 to $23.00 in a research report sent to investors on Friday. They currently have a neutral rating on the technology company’s stock.
SYMC has been the subject of several other reports. Barclays lowered their target price on Symantec from $23.00 to $21.00 and set an equal weight rating for the company in a research note on Monday, August 6th. Stifel Nicolaus lowered their target price on Symantec from $21.00 to $19.00 and set a hold rating for the company in a research note on Friday, August 3rd. Wedbush boosted their target price on Symantec from $19.00 to $21.00 and gave the stock a neutral rating in a research note on Friday. BidaskClub raised Symantec from a hold rating to a buy rating in a research note on Friday, July 6th. Finally, UBS Group raised Symantec from a neutral rating to a positive rating in a research note on Tuesday, August 21st. Two analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and three have issued a buy rating to the company. Symantec currently has a consensus rating of Hold and an average price target of $23.11.
SYMC opened at $20.02 on Friday. Symantec has a 12 month low of $17.49 and a 12 month high of $29.87. The firm has a market cap of $12.46 billion, a P/E ratio of 21.07, a P/E/G ratio of 2.75 and a beta of 0.90. The company has a quick ratio of 1.10, a current ratio of 1.00 and a debt-to-equity ratio of 0.75.
Symantec (NASDAQ:SYMC) last released its earnings results on Thursday, November 1st. The technology company reported $0.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.09. Symantec had a return on equity of 13.99% and a net margin of 25.95%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the firm posted $0.40 EPS. Symantec’s revenue for the quarter was down 7.2% on a year-over-year basis. As a group, research analysts forecast that Symantec will post 0.9 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Monday, November 19th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Friday, November 16th. Symantec’s dividend payout ratio (DPR) is 31.58%.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Millennium Management LLC lifted its holdings in shares of Symantec by 154.7% in the 1st quarter. Millennium Management LLC now owns 78,982 shares of the technology company’s stock valued at $2,042,000 after purchasing an additional 47,971 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Symantec by 4.4% in the 1st quarter. Principal Financial Group Inc. now owns 942,951 shares of the technology company’s stock valued at $24,376,000 after purchasing an additional 39,418 shares during the last quarter. Suntrust Banks Inc. lifted its holdings in shares of Symantec by 31.3% in the 1st quarter. Suntrust Banks Inc. now owns 40,439 shares of the technology company’s stock valued at $1,044,000 after purchasing an additional 9,633 shares during the last quarter. Brown Advisory Inc. purchased a new stake in shares of Symantec in the 1st quarter valued at about $3,695,000. Finally, Cerebellum GP LLC lifted its holdings in shares of Symantec by 47.9% in the 2nd quarter. Cerebellum GP LLC now owns 8,295 shares of the technology company’s stock valued at $171,000 after purchasing an additional 2,685 shares during the last quarter. 90.21% of the stock is owned by institutional investors.
Symantec Company Profile
Symantec Corporation, together with its subsidiaries, provides cybersecurity solutions worldwide. It operates through two segments, Consumer Digital Safety and Enterprise Security. The Consumer Digital Safety segment provides Norton-branded services that provide multi-layer security services across desktop and mobile operating systems, public Wi-Fi connections, and home networks to defend against online threats to individuals, families, and small businesses.
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