Traders sold shares of Symantec Co. (NASDAQ:SYMC) on strength during trading on Wednesday. $27.74 million flowed into the stock on the tick-up and $72.40 million flowed out of the stock on the tick-down, for a money net flow of $44.66 million out of the stock. Of all stocks tracked, Symantec had the 33rd highest net out-flow for the day. Symantec traded up $0.27 for the day and closed at $22.81
SYMC has been the topic of several recent analyst reports. Barclays decreased their price target on Symantec from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Monday, August 6th. BidaskClub upgraded Symantec from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. Deutsche Bank lifted their price target on Symantec from $18.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, August 17th. Evercore ISI reiterated a “hold” rating and issued a $22.00 price target on shares of Symantec in a research note on Monday, September 17th. Finally, Stifel Nicolaus decreased their price target on Symantec from $21.00 to $19.00 and set a “hold” rating on the stock in a research note on Friday, August 3rd. Two equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and three have assigned a buy rating to the company. Symantec has an average rating of “Hold” and a consensus price target of $23.11.
The stock has a market capitalization of $12.46 billion, a price-to-earnings ratio of 24.01, a price-to-earnings-growth 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 issued its quarterly earnings data on Thursday, November 1st. The technology company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.09. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.14 billion. Symantec had a return on equity of 13.99% and a net margin of 25.95%. Symantec’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS. Equities analysts forecast that Symantec Co. will post 1 earnings per share for the current year.
The business also recently announced 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 annualized dividend and a yield of 1.32%. The ex-dividend date is Friday, November 16th. Symantec’s payout ratio is presently 31.58%.
A number of institutional investors and hedge funds have recently made changes to their positions in SYMC. Coastline Trust Co lifted its stake in shares of Symantec by 15.4% in the 2nd quarter. Coastline Trust Co now owns 20,279 shares of the technology company’s stock valued at $419,000 after purchasing an additional 2,700 shares during the period. Xact Kapitalforvaltning AB lifted its stake in shares of Symantec by 2.8% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 108,106 shares of the technology company’s stock valued at $2,232,000 after purchasing an additional 2,943 shares during the period. DnB Asset Management AS lifted its stake in shares of Symantec by 4.9% in the 2nd quarter. DnB Asset Management AS now owns 74,533 shares of the technology company’s stock valued at $1,539,000 after purchasing an additional 3,500 shares during the period. Neuburgh Advisers LLC lifted its stake in shares of Symantec by 9.1% in the 2nd quarter. Neuburgh Advisers LLC now owns 49,088 shares of the technology company’s stock valued at $1,014,000 after purchasing an additional 4,112 shares during the period. Finally, IFM Investors Pty Ltd lifted its stake in shares of Symantec by 14.6% in the 3rd quarter. IFM Investors Pty Ltd now owns 32,706 shares of the technology company’s stock valued at $696,000 after purchasing an additional 4,157 shares during the period. 90.21% of the stock is currently owned by hedge funds and other institutional investors.
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Symantec Company Profile (NASDAQ:SYMC)
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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