Symantec Corporation (SYMC) Given “Buy” Rating at Barclays PLC

Barclays PLC reaffirmed their buy rating on shares of Symantec Corporation (NASDAQ:SYMC) in a report released on Thursday, November 2nd. The brokerage currently has a $36.00 price target on the technology company’s stock.

A number of other equities analysts also recently commented on the stock. CIBC restated an outperform rating and issued a $33.00 target price (down from $35.00) on shares of Symantec Corporation in a research note on Thursday, November 2nd. Oppenheimer Holdings, Inc. dropped their target price on shares of Symantec Corporation from $35.00 to $33.00 and set an outperform rating on the stock in a research note on Thursday, November 2nd. Piper Jaffray Companies set a $40.00 target price on shares of Symantec Corporation and gave the stock a buy rating in a research note on Sunday, October 15th. Morgan Stanley downgraded shares of Symantec Corporation from an overweight rating to an equal weight rating and dropped their target price for the stock from $37.00 to $34.00 in a research note on Tuesday, October 10th. Finally, Zacks Investment Research downgraded shares of Symantec Corporation from a hold rating to a sell rating in a research note on Monday, October 9th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $32.39.

Symantec Corporation (NASDAQ:SYMC) traded down $0.08 during trading on Thursday, reaching $28.11. 5,762,198 shares of the company were exchanged, compared to its average volume of 6,766,045. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.12 and a quick ratio of 1.12. Symantec Corporation has a 12 month low of $23.34 and a 12 month high of $34.20. The stock has a market cap of $17,480.00, a price-to-earnings ratio of 44.51, a P/E/G ratio of 2.83 and a beta of 1.12.

Symantec Corporation (NASDAQ:SYMC) last posted its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.40 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the prior year, the company posted $0.30 EPS. The firm’s revenue for the quarter was up 25.7% on a year-over-year basis. equities analysts predict that Symantec Corporation will post 1.05 EPS for the current year.

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The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Monday, November 20th will be given a $0.075 dividend. The ex-dividend date is Friday, November 17th. This represents a $0.30 annualized dividend and a dividend yield of 1.07%. Symantec Corporation’s dividend payout ratio (DPR) is -51.72%.

In related news, CEO Gregory S. Clark sold 186,433 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $30.00, for a total transaction of $5,592,990.00. Following the transaction, the chief executive officer now directly owns 1,321,671 shares in the company, valued at $39,650,130. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Amy L. Cappellanti-Wolf sold 2,163 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $29.85, for a total transaction of $64,565.55. Following the transaction, the senior vice president now owns 115,997 shares in the company, valued at $3,462,510.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 671,985 shares of company stock worth $20,028,343. Company insiders own 1.30% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Commerce Bank raised its stake in Symantec Corporation by 352.5% during the second quarter. Commerce Bank now owns 43,888 shares of the technology company’s stock worth $1,240,000 after purchasing an additional 34,189 shares during the period. Delta Lloyd Asset Management N.V. purchased a new position in Symantec Corporation during the second quarter worth about $1,830,000. Numeric Investors LLC raised its stake in Symantec Corporation by 168.5% during the second quarter. Numeric Investors LLC now owns 54,500 shares of the technology company’s stock worth $1,540,000 after purchasing an additional 34,200 shares during the period. Oakbrook Investments LLC raised its stake in shares of Symantec Corporation by 99.7% in the 3rd quarter. Oakbrook Investments LLC now owns 51,180 shares of the technology company’s stock valued at $1,679,000 after acquiring an additional 25,550 shares during the period. Finally, Spirit of America Management Corp NY raised its stake in shares of Symantec Corporation by 9.9% in the 2nd quarter. Spirit of America Management Corp NY now owns 26,200 shares of the technology company’s stock valued at $740,000 after acquiring an additional 2,350 shares during the period. 85.64% of the stock is currently owned by institutional investors.

Symantec Corporation Company Profile

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.

Analyst Recommendations for Symantec Corporation (NASDAQ:SYMC)

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