Several other brokerages have also recently weighed in on SYMC. BidaskClub cut shares of Symantec from a hold rating to a sell rating in a report on Saturday, May 4th. Zacks Investment Research cut shares of Symantec from a buy rating to a hold rating in a report on Wednesday, April 3rd. Mizuho began coverage on shares of Symantec in a report on Tuesday, March 26th. They issued a neutral rating and a $25.00 target price on the stock. Goldman Sachs Group raised shares of Symantec from a neutral rating to a buy rating and raised their target price for the company from $23.00 to $28.00 in a report on Monday, April 8th. Finally, Evercore ISI reaffirmed a hold rating and issued a $22.00 target price on shares of Symantec in a report on Monday, February 4th. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $22.67.
Shares of SYMC traded down $2.78 during mid-day trading on Wednesday, hitting $19.39. 30,818,696 shares of the company’s stock were exchanged, compared to its average volume of 4,271,285. The stock has a market capitalization of $14.17 billion, a PE ratio of 16.57, a P/E/G ratio of 1.93 and a beta of 1.09. Symantec has a fifty-two week low of $17.42 and a fifty-two week high of $24.77. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.02 and a current ratio of 1.02.
Symantec (NASDAQ:SYMC) last issued its earnings results on Thursday, May 9th. The technology company reported $0.39 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.39. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Symantec had a net margin of 0.59% and a return on equity of 12.94%. The firm’s revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.46 earnings per share. On average, sell-side analysts predict that Symantec will post 1.46 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Monday, June 10th will be paid a $0.075 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.30 annualized dividend and a yield of 1.55%. Symantec’s dividend payout ratio is currently 25.64%.
In other Symantec news, EVP Samir Kapuria sold 45,455 shares of the stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $23.05, for a total value of $1,047,737.75. Following the transaction, the executive vice president now directly owns 313,931 shares in the company, valued at $7,236,109.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Matthew Charles Brown sold 5,393 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $21.90, for a total transaction of $118,106.70. Following the completion of the transaction, the vice president now owns 58,514 shares in the company, valued at $1,281,456.60. The disclosure for this sale can be found here. Insiders sold 1,116,703 shares of company stock worth $26,033,682 over the last quarter. 1.90% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. American Century Companies Inc. grew its position in shares of Symantec by 4.4% during the fourth quarter. American Century Companies Inc. now owns 10,927 shares of the technology company’s stock worth $206,000 after acquiring an additional 460 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in shares of Symantec by 0.7% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 72,694 shares of the technology company’s stock worth $1,671,000 after acquiring an additional 478 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of Symantec by 1.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 27,166 shares of the technology company’s stock worth $513,000 after acquiring an additional 479 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Symantec by 1.3% during the first quarter. Crossmark Global Holdings Inc. now owns 39,150 shares of the technology company’s stock worth $900,000 after acquiring an additional 500 shares during the last quarter. Finally, Suntrust Banks Inc. grew its position in shares of Symantec by 2.2% during the fourth quarter. Suntrust Banks Inc. now owns 23,250 shares of the technology company’s stock worth $439,000 after acquiring an additional 505 shares during the last quarter. Institutional investors own 89.98% 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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