Symantec Corporation (NASDAQ:SYMC) had its price target cut by Oppenheimer Holdings, Inc. from $35.00 to $33.00 in a report published on Thursday, November 2nd, Marketbeat.com reports. They currently have an outperform rating on the technology company’s stock.
SYMC has been the subject of several other research reports. Barclays PLC reiterated an overweight rating and issued a $36.00 price target (down previously from $38.00) on shares of Symantec Corporation in a research report on Thursday, August 3rd. Robert W. Baird reiterated a hold rating and issued a $32.00 price target on shares of Symantec Corporation in a research report on Friday, September 8th. Royal Bank Of Canada restated a hold rating and set a $32.00 price objective on shares of Symantec Corporation in a research report on Monday, July 31st. BidaskClub upgraded shares of Symantec Corporation from a sell rating to a hold rating in a research report on Wednesday, August 23rd. Finally, Stifel Nicolaus restated a hold rating and set a $27.00 price objective on shares of Symantec Corporation in a research report on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $32.39.
Shares of Symantec Corporation (NASDAQ SYMC) traded down $0.08 during trading on Thursday, hitting $28.11. 5,762,198 shares of the stock traded hands, compared to its average volume of 6,766,045. Symantec Corporation has a fifty-two week low of $23.34 and a fifty-two week high of $34.20. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $17,480.00, a PE ratio of 44.51, a price-to-earnings-growth ratio of 2.83 and a beta of 1.12.
Symantec Corporation (NASDAQ:SYMC) last issued its earnings results on Wednesday, November 1st. The technology company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.14. Symantec Corporation had a negative net margin of 5.29% and a positive return on equity of 12.33%. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the prior year, the business posted $0.30 EPS. The company’s revenue for the quarter was up 25.7% on a year-over-year basis. analysts expect that Symantec Corporation will post 1.05 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Monday, November 20th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, November 17th. Symantec Corporation’s payout ratio is currently -51.72%.
In other Symantec Corporation news, SVP Amy L. Cappellanti-Wolf sold 2,163 shares of Symantec Corporation stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $29.85, for a total value of $64,565.55. Following the completion of the transaction, the senior vice president now owns 115,997 shares of the company’s stock, valued at $3,462,510.45. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Anita M. Sands sold 2,000 shares of Symantec Corporation stock in a transaction on Monday, September 18th. The stock was sold at an average price of $33.51, for a total transaction of $67,020.00. Following the completion of the transaction, the director now directly owns 37,386 shares of the company’s stock, valued at approximately $1,252,804.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 671,985 shares of company stock valued at $20,028,343. 1.30% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Symantec Corporation by 7.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,982 shares of the technology company’s stock valued at $112,000 after acquiring an additional 292 shares during the period. Sun Life Financial INC boosted its holdings in shares of Symantec Corporation by 44,100.0% during the second quarter. Sun Life Financial INC now owns 4,420 shares of the technology company’s stock valued at $125,000 after acquiring an additional 4,410 shares during the period. Harfst & Associates Inc. acquired a new position in shares of Symantec Corporation during the second quarter valued at $127,000. Johnson Financial Group Inc. boosted its holdings in shares of Symantec Corporation by 6.2% during the second quarter. Johnson Financial Group Inc. now owns 5,596 shares of the technology company’s stock valued at $158,000 after acquiring an additional 325 shares during the period. Finally, United Bank Inc. acquired a new position in shares of Symantec Corporation during the third quarter valued at $200,000. 85.64% of the stock is owned by institutional investors.
About Symantec Corporation
Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. 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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