BidaskClub upgraded shares of Symantec (NASDAQ:SYMC) from a sell rating to a hold rating in a research report released on Thursday, BidAskClub reports.
SYMC has been the topic of several other research reports. Mizuho upgraded Symantec from a neutral rating to a buy rating and boosted their target price for the company from $22.00 to $23.00 in a research note on Monday, June 17th. Wedbush set a $19.00 target price on Symantec and gave the company a hold rating in a research note on Monday, July 15th. William Blair restated a market perform rating on shares of Symantec in a research note on Friday, August 9th. Evercore ISI set a $22.00 target price on Symantec and gave the company a hold rating in a research note on Friday, August 9th. Finally, Argus restated a hold rating on shares of Symantec in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $22.82.
Shares of SYMC traded down $0.14 on Thursday, hitting $23.42. The company’s stock had a trading volume of 2,561,000 shares, compared to its average volume of 6,954,571. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.79. The firm’s fifty day moving average price is $23.68 and its 200-day moving average price is $22.50. Symantec has a fifty-two week low of $17.42 and a fifty-two week high of $26.07. The firm has a market capitalization of $14.52 billion, a price-to-earnings ratio of 20.02, a P/E/G ratio of 3.28 and a beta of 1.29.
Symantec (NASDAQ:SYMC) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.11. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.19 billion. Symantec had a return on equity of 14.94% and a net margin of 2.43%. Symantec’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.34 EPS. As a group, equities analysts predict that Symantec will post 1.33 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Monday, August 26th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend was Friday, August 23rd. Symantec’s dividend payout ratio is currently 25.64%.
In related news, Director Peter A. Feld acquired 1,325,814 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were bought at an average price of $22.95 per share, for a total transaction of $30,427,431.30. Following the purchase, the director now directly owns 24,685 shares in the company, valued at approximately $566,520.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Samir Kapuria sold 9,674 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $23.47, for a total value of $227,048.78. Following the sale, the executive vice president now owns 387,166 shares in the company, valued at approximately $9,086,786.02. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Arcadia Investment Management Corp MI bought a new stake in shares of Symantec during the 2nd quarter worth approximately $39,000. CX Institutional raised its stake in Symantec by 40.0% in the 2nd quarter. CX Institutional now owns 3,937 shares of the technology company’s stock valued at $86,000 after acquiring an additional 1,124 shares during the period. Sanders Morris Harris LLC bought a new stake in Symantec in the 2nd quarter valued at $215,000. Capital Fund Management S.A. raised its stake in Symantec by 39.1% in the 2nd quarter. Capital Fund Management S.A. now owns 1,037,009 shares of the technology company’s stock valued at $22,565,000 after acquiring an additional 291,700 shares during the period. Finally, Bessemer Group Inc. raised its stake in Symantec by 62.7% in the 2nd quarter. Bessemer Group Inc. now owns 36,640 shares of the technology company’s stock valued at $797,000 after acquiring an additional 14,114 shares during the period. Institutional investors own 90.67% of the company’s stock.
Symantec Company Profile
Symantec Corporation provides cybersecurity products, services, and solutions worldwide. The company operates through two segments, Enterprise Security and Consumer Digital Safety. The Enterprise Security segment provides endpoint and information protection products, including endpoint security, advanced threat protection, and information protection solutions and their related support services; and network and Web security products, such as network security, Web security, and cloud security solutions and their related support services.
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