Symantec Corp. Price Target Increased to $30.00 by Analysts at Robert W. Baird (SYMC)

Posted by on Jul 26th, 2013

Research analysts at Robert W. Baird boosted their price target on shares of Symantec Corp. (NASDAQ:SYMC) from $23.00 to $30.00 in a report released on Thursday, AnalystRatingsNetwork reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 12.36% from the stock’s previous close.

Symantec Corp. (NASDAQ:SYMC) traded up 0.07% on Thursday, hitting $26.70. Symantec Corp. has a 52-week low of $15.71 and a 52-week high of $26.89. The stock’s 50-day moving average is currently $23.24. The company has a market cap of $18.600 billion and a price-to-earnings ratio of 24.70.

Symantec Corp. (NASDAQ:SYMC) last announced its earnings results on Tuesday, July 30th. The company reported $0.44 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.36 by $0.08. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the company posted $0.43 earnings per share. Symantec Corp.’s revenue was up 2.5% compared to the same quarter last year. On average, analysts predict that Symantec Corp. will post $1.89 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on SYMC. Analysts at FBR Capital Markets raised their price target on shares of Symantec Corp. from $20.00 to $22.00 in a research note to investors on Thursday, July 25th. They now have a “market perform” rating on the stock. Separately, analysts at Barclays Capital reiterated an “overweight” rating on shares of Symantec Corp. in a research note to investors on Thursday, July 11th. They now have a $27.00 price target on the stock. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Symantec Corp. in a research note to investors on Friday, July 5th.

Ten analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $26.55.

The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 18th. Investors of record on Monday, August 26th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Thursday, August 22nd.

Symantec Corporation is a global provider of security, storage, and systems management solutions that help businesses and consumers secure and manage their information.