Symantec (SYMC) Upgraded to Hold by BidaskClub

BidaskClub upgraded shares of Symantec (NASDAQ:SYMC) from a sell rating to a hold rating in a research note released on Tuesday morning.

A number of other research analysts have also recently commented on the company. Credit Suisse Group initiated coverage on Symantec in a research note on Tuesday, September 5th. They issued an outperform rating and a $36.00 target price on the stock. Robert W. Baird reissued a hold rating and issued a $32.00 target price on shares of Symantec in a research note on Friday, September 8th. Morgan Stanley reduced their target price on Symantec from $34.00 to $31.00 and set an equal weight rating on the stock in a research note on Friday, November 3rd. Moffett Nathanson initiated coverage on Symantec in a research note on Wednesday, September 6th. They issued a neutral rating and a $33.00 target price on the stock. Finally, CIBC reissued an outperform rating and issued a $33.00 target price (down previously from $35.00) on shares of Symantec in a research note on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $32.39.

Symantec (NASDAQ SYMC) traded down $0.30 on Tuesday, reaching $28.92. The company had a trading volume of 5,834,800 shares, compared to its average volume of 6,726,490. The company has a market capitalization of $18,115.88, a PE ratio of 46.38, a PEG ratio of 2.95 and a beta of 1.08. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.72. Symantec has a 1-year low of $23.77 and a 1-year high of $34.20.

Symantec (NASDAQ:SYMC) last released its earnings results on Wednesday, November 1st. The technology company reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.14. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Symantec had a positive return on equity of 12.33% and a negative net margin of 5.29%. The firm’s revenue was up 25.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 earnings per share. equities research analysts predict that Symantec will post 1.05 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Monday, November 20th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, November 17th. This represents a $0.30 annualized dividend and a yield of 1.04%. Symantec’s payout ratio is -75.00%.

In other news, Director Suzanne M. Vautrinot sold 2,500 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $32.81, for a total transaction of $82,025.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Amy L. Cappellanti-Wolf sold 4,496 shares of the stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $32.88, for a total transaction of $147,828.48. Following the sale, the senior vice president now owns 108,411 shares of the company’s stock, valued at $3,564,553.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 451,721 shares of company stock valued at $13,228,858. Company insiders own 1.30% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Capital World Investors boosted its holdings in shares of Symantec by 3.7% during the second quarter. Capital World Investors now owns 75,819,338 shares of the technology company’s stock worth $2,141,896,000 after purchasing an additional 2,695,567 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Symantec by 1.3% during the second quarter. Vanguard Group Inc. now owns 61,195,217 shares of the technology company’s stock worth $1,728,766,000 after purchasing an additional 757,092 shares during the period. Jackson Square Partners LLC boosted its holdings in shares of Symantec by 5.0% during the second quarter. Jackson Square Partners LLC now owns 20,071,586 shares of the technology company’s stock worth $567,022,000 after purchasing an additional 964,537 shares during the period. Coatue Management LLC boosted its holdings in shares of Symantec by 4.3% during the second quarter. Coatue Management LLC now owns 17,902,408 shares of the technology company’s stock worth $505,743,000 after purchasing an additional 743,961 shares during the period. Finally, Capital Research Global Investors boosted its holdings in shares of Symantec by 1,784.9% during the second quarter. Capital Research Global Investors now owns 14,305,855 shares of the technology company’s stock worth $404,140,000 after purchasing an additional 13,546,895 shares during the period. Institutional investors own 95.02% of the company’s stock.

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About Symantec

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 (NASDAQ:SYMC)

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