Oppenheimer Holdings, Inc. restated their outperform rating on shares of Symantec Corporation (NASDAQ:SYMC) in a report published on Friday, June 9th. They currently have a $33.00 target price on the technology company’s stock, up from their previous target price of $32.00.
Several other equities analysts have also weighed in on the company. Barclays PLC began coverage on Symantec Corporation in a research note on Friday, February 10th. They issued an equal weight rating and a $30.00 price target for the company. Wunderlich boosted their price objective on Symantec Corporation from $30.00 to $32.00 and gave the stock a buy rating in a research note on Monday, February 27th. Morgan Stanley boosted their price objective on Symantec Corporation from $33.00 to $37.00 and gave the stock an overweight rating in a research note on Wednesday, March 22nd. Zacks Investment Research upgraded Symantec Corporation from a sell rating to a hold rating in a report on Wednesday, April 5th. Finally, Wells Fargo & Company reissued a market perform rating on shares of Symantec Corporation in a research report on Friday, April 7th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $30.48.
Symantec Corporation (NASDAQ SYMC) traded up 1.41% on Friday, hitting $28.85. The stock had a trading volume of 1,679,192 shares. The firm’s market cap is $17.55 billion. The company has a 50-day moving average price of $30.56 and a 200 day moving average price of $28.54. Symantec Corporation has a 52-week low of $19.79 and a 52-week high of $33.22.
Symantec Corporation (NASDAQ:SYMC) last issued its quarterly earnings results on Wednesday, May 10th. The technology company reported $0.28 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.28. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Symantec Corporation had a positive return on equity of 11.06% and a negative net margin of 2.64%. The firm’s revenue was up 34.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.22 EPS. Equities analysts forecast that Symantec Corporation will post $1.79 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 21st. Shareholders of record on Wednesday, June 7th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Monday, June 5th. Symantec Corporation’s payout ratio is -176.47%.
In related news, EVP Francis C. Rosch sold 47,344 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $30.18, for a total value of $1,428,841.92. Following the sale, the executive vice president now directly owns 193,054 shares in the company, valued at approximately $5,826,369.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Amy L. Cappellanti-Wolf sold 3,741 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $29.91, for a total transaction of $111,893.31. Following the completion of the sale, the senior vice president now owns 88,774 shares in the company, valued at $2,655,230.34. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 159,909 shares of company stock valued at $4,886,750. Company insiders own 0.76% of the company’s stock.
Several large investors have recently added to or reduced their stakes in SYMC. IFP Advisors Inc raised its stake in Symantec Corporation by 0.3% in the first quarter. IFP Advisors Inc now owns 6,283 shares of the technology company’s stock worth $193,000 after buying an additional 19 shares in the last quarter. Mason Street Advisors LLC raised its stake in Symantec Corporation by 0.3% in the first quarter. Mason Street Advisors LLC now owns 85,518 shares of the technology company’s stock worth $2,624,000 after buying an additional 237 shares in the last quarter. Greenwood Capital Associates LLC raised its stake in Symantec Corporation by 1.7% in the first quarter. Greenwood Capital Associates LLC now owns 15,210 shares of the technology company’s stock worth $467,000 after buying an additional 255 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its stake in Symantec Corporation by 1.5% in the first quarter. Municipal Employees Retirement System of Michigan now owns 20,120 shares of the technology company’s stock worth $617,000 after buying an additional 290 shares in the last quarter. Finally, Blair William & Co. IL raised its stake in Symantec Corporation by 2.7% in the first quarter. Blair William & Co. IL now owns 13,018 shares of the technology company’s stock worth $372,000 after buying an additional 345 shares in the last quarter. Institutional investors and hedge funds own 94.11% of the company’s stock.
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.
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