Wedbush started coverage on shares of Symantec (NASDAQ:SYMC) in a research report sent to investors on Friday, October 19th, The Fly reports. The firm issued a neutral rating on the technology company’s stock.
Several other equities research analysts also recently commented on the stock. Evercore ISI restated a hold rating and issued a $22.00 price target on shares of Symantec in a research report on Monday, September 17th. BidaskClub downgraded shares of Symantec from a hold rating to a sell rating in a research report on Thursday, August 2nd. Barclays cut their target price on shares of Symantec from $23.00 to $21.00 and set an equal weight rating for the company in a research report on Monday, August 6th. Susquehanna Bancshares upgraded shares of Symantec from a neutral rating to a positive rating and increased their target price for the stock from $21.00 to $23.00 in a research report on Tuesday, August 21st. Finally, Stifel Nicolaus increased their target price on shares of Symantec from $20.00 to $22.00 and gave the stock a hold rating in a research report on Tuesday, September 25th. 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’s stock. The company has a consensus rating of Hold and an average price target of $23.11.
Shares of NASDAQ:SYMC traded down $0.14 during mid-day trading on Friday, hitting $22.25. The stock had a trading volume of 18,970,121 shares, compared to its average volume of 11,354,641. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.10 and a current ratio of 1.00. The company has a market cap of $14.57 billion, a PE ratio of 23.42, a price-to-earnings-growth ratio of 2.90 and a beta of 0.90. Symantec has a 12-month low of $17.49 and a 12-month high of $29.73.
Symantec (NASDAQ:SYMC) last issued its quarterly earnings results on Thursday, November 1st. The technology company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.09. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.14 billion. Symantec had a net margin of 25.95% and a return on equity of 13.99%. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 EPS. On average, equities analysts predict that Symantec will post 1 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 12th. Investors of record on Monday, November 19th will be paid a $0.075 dividend. The ex-dividend date is Friday, November 16th. This represents a $0.30 dividend on an annualized basis and a yield of 1.35%. Symantec’s payout ratio is presently 31.58%.
A number of large investors have recently bought and sold shares of SYMC. Steward Partners Investment Advisory LLC grew its position in Symantec by 355.7% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 6,129 shares of the technology company’s stock worth $130,000 after purchasing an additional 4,784 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in Symantec in the 2nd quarter worth $150,000. Cerebellum GP LLC grew its position in Symantec by 47.9% in the 2nd quarter. Cerebellum GP LLC now owns 8,295 shares of the technology company’s stock worth $171,000 after purchasing an additional 2,685 shares during the last quarter. Cito Capital Group LLC acquired a new stake in Symantec in the 2nd quarter worth $207,000. Finally, Advisor Partners LLC acquired a new stake in Symantec in the 3rd quarter worth $218,000. Institutional investors and hedge funds own 90.21% of the company’s stock.
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.
Read More: Compound Annual Growth Rate (CAGR)
Receive News & Ratings for Symantec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Symantec and related companies with MarketBeat.com's FREE daily email newsletter.