Symantec Corporation (SYMC) Given “Hold” Rating at Evercore ISI

Evercore ISI reaffirmed their hold rating on shares of Symantec Corporation (NASDAQ:SYMC) in a report released on Thursday, November 2nd. The brokerage currently has a $25.00 price target on the technology company’s stock.

A number of other equities analysts also recently commented on the stock. Barclays PLC restated a buy rating and issued a $36.00 target price on shares of Symantec Corporation in a research note on Thursday, November 2nd. 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. Finally, Morgan Stanley downgraded shares of Symantec Corporation from an overweight rating to an equal weight rating and dropped their price objective for the company from $37.00 to $34.00 in a research note on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have given a buy rating to the stock. The stock has an average rating of Hold and a consensus target price 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.

TRADEMARK VIOLATION NOTICE: “Symantec Corporation (SYMC) Given “Hold” Rating at Evercore ISI” was posted by BBNS and is the sole property of of BBNS. If you are accessing this article on another website, it was stolen and reposted in violation of international copyright & trademark legislation. The legal version of this article can be accessed at https://baseballnewssource.com/markets/symantec-corporation-symc-given-hold-rating-at-evercore-isi/1751623.html.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Monday, November 20th will be given a dividend of $0.075 per share. The ex-dividend date is Friday, November 17th. This represents a $0.30 dividend on an annualized basis and a yield of 1.07%. Symantec Corporation’s payout ratio is presently -51.72%.

In other news, SVP Amy L. Cappellanti-Wolf sold 2,163 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 115,997 shares of the company’s stock, valued at approximately $3,462,510.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Nicholas R. Noviello sold 375,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $29.38, for a total transaction of $11,017,500.00. Following the completion of the sale, the chief financial officer now directly owns 565,319 shares in the company, valued at $16,609,072.22. The disclosure for this sale can be found here. Insiders have sold 671,985 shares of company stock worth $20,028,343 over the last 90 days. 1.30% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Capital World Investors increased its stake in Symantec Corporation by 3.7% during the 2nd quarter. Capital World Investors now owns 75,819,338 shares of the technology company’s stock worth $2,141,896,000 after buying an additional 2,695,567 shares during the period. Vanguard Group Inc. grew its holdings in Symantec Corporation by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 61,195,217 shares of the technology company’s stock worth $1,728,766,000 after acquiring an additional 757,092 shares in the last quarter. Jackson Square Partners LLC grew its holdings in Symantec Corporation by 5.0% during the 2nd quarter. Jackson Square Partners LLC now owns 20,071,586 shares of the technology company’s stock worth $567,022,000 after acquiring an additional 964,537 shares in the last quarter. Coatue Management LLC grew its holdings in Symantec Corporation by 4.3% during the 2nd quarter. Coatue Management LLC now owns 17,902,408 shares of the technology company’s stock worth $505,743,000 after acquiring an additional 743,961 shares in the last quarter. Finally, Capital Research Global Investors grew its holdings in Symantec Corporation by 1,784.9% during the 2nd quarter. Capital Research Global Investors now owns 14,305,855 shares of the technology company’s stock worth $404,140,000 after acquiring an additional 13,546,895 shares in the last quarter. 85.64% of the stock is currently owned by hedge funds and other 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)

Receive News & Ratings for Symantec Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Symantec Corporation and related companies with our FREE daily email newsletter.

 


Latest News

Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
MLB Commissioner: New Rule for Pace-of-Play in 2018
MLB Commissioner: New Rule for Pace-of-Play in 2018
Alex Cobb Could Be Good Fit for Cubs
Alex Cobb Could Be Good Fit for Cubs
Joey Votto Is One of Baseball’s Best Hitters
Joey Votto Is One of Baseball’s Best Hitters
Hunter Pence May Become Part-Time Player
Hunter Pence May Become Part-Time Player
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts


Leave a Reply

 
© 2006-2017 BBNS.