Symantec Corp. (NASDAQ:SYMC) was upgraded by equities researchers at Standpoint Research from a “hold” rating to a “buy” rating in a research report issued on Thursday, AnalystRatingsNetwork reports. The analysts noted that the move was a valuation call.
Other equities research analysts have also recently issued reports about the stock. Analysts at Bank of America Corp. downgraded shares of Symantec Corp. to an “underperform” rating in a research note to investors on Thursday. Separately, analysts at Nomura reiterated a “hold” rating on shares of Symantec Corp. in a research note to investors on Thursday. They now have a $29.00 price target on the stock. Finally, analysts at RBC Capital cut their price target on shares of Symantec Corp. from $30.00 to $26.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company. Symantec Corp. presently has an average rating of “Buy” and an average price target of $27.05.
Symantec Corp. (NASDAQ:SYMC) traded down 9.87% on Thursday, hitting $22.19. The stock had a trading volume of 24,045,072 shares. Symantec Corp. has a 1-year low of $17.02 and a 1-year high of $27.10. The stock’s 50-day moving average is $25.9 and its 200-day moving average is $24.24. The company has a market cap of $15.502 billion and a price-to-earnings ratio of 22.78.
Symantec Corp. (NASDAQ:SYMC) last released its earnings data on Wednesday, October 23rd. The company reported $0.50 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.44 by $0.06. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter last year, the company posted $0.45 earnings per share. Symantec Corp.’s revenue was down 3.6% compared to the same quarter last year. Analysts expect that Symantec Corp. will post $1.90 EPS for the current fiscal year.
Symantec Corporation is a global provider of security, storage, and systems management solutions that help businesses and consumers secure and manage their information.
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