Other research analysts have also recently issued research reports about the company. Goldman Sachs Group raised Symantec from a neutral rating to a buy rating and lifted their target price for the company from $23.00 to $28.00 in a research report on Monday, April 8th. Mizuho cut their target price on Symantec from $25.00 to $22.00 and set a neutral rating on the stock in a research report on Friday, May 10th. Zacks Investment Research raised Symantec from a sell rating to a hold rating in a research report on Wednesday. Jefferies Financial Group cut their target price on Symantec from $22.00 to $19.00 and set a hold rating on the stock in a research report on Friday, May 10th. Finally, Wedbush reaffirmed a neutral rating and set a $19.00 target price (down previously from $24.00) on shares of Symantec in a research report on Friday, May 10th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company. Symantec currently has an average rating of Hold and a consensus price target of $22.13.
Symantec stock traded up $0.23 during mid-day trading on Wednesday, reaching $19.72. The stock had a trading volume of 295,648 shares, compared to its average volume of 5,606,233. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.02 and a current ratio of 0.85. Symantec has a fifty-two week low of $17.42 and a fifty-two week high of $24.77. The stock has a market capitalization of $12.53 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 1.79 and a beta of 1.09.
Symantec (NASDAQ:SYMC) last announced its quarterly earnings data on Thursday, May 9th. The technology company reported $0.39 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.39. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Symantec had a return on equity of 13.05% and a net margin of 0.59%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.46 earnings per share. Research analysts forecast that Symantec will post 1.35 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Monday, June 10th will be issued a dividend of $0.075 per share. The ex-dividend date is Friday, June 7th. This represents a $0.30 dividend on an annualized basis and a yield of 1.52%. Symantec’s dividend payout ratio (DPR) is currently 25.64%.
In related news, insider Gregory S. Clark sold 636,209 shares of Symantec stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $23.69, for a total transaction of $15,071,791.21. Following the sale, the insider now directly owns 1,503,837 shares in the company, valued at $35,625,898.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Suzanne M. Vautrinot sold 18,000 shares of Symantec stock in a transaction on Monday, April 8th. The stock was sold at an average price of $24.01, for a total value of $432,180.00. The disclosure for this sale can be found here. Insiders have sold 1,052,927 shares of company stock worth $24,563,645 over the last quarter. 1.90% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Legal & General Group Plc raised its stake in shares of Symantec by 12.8% in the third quarter. Legal & General Group Plc now owns 4,103,725 shares of the technology company’s stock valued at $87,328,000 after buying an additional 464,098 shares during the period. Vanguard Group Inc raised its stake in shares of Symantec by 1.4% in the third quarter. Vanguard Group Inc now owns 65,537,473 shares of the technology company’s stock valued at $1,394,637,000 after buying an additional 902,112 shares during the period. DNB Asset Management AS raised its stake in shares of Symantec by 6.9% in the fourth quarter. DNB Asset Management AS now owns 80,733 shares of the technology company’s stock valued at $1,525,000 after buying an additional 5,200 shares during the period. Fox Run Management L.L.C. bought a new stake in shares of Symantec in the fourth quarter valued at $539,000. Finally, Virtu Financial LLC bought a new stake in shares of Symantec in the fourth quarter valued at $1,138,000. Institutional investors and hedge funds own 89.96% of the company’s stock.
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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