Monness Crespi & Hardt assumed coverage on shares of Symantec (NASDAQ:SYMC) in a report issued on Wednesday, Briefing.com Automated Import reports. The firm issued a neutral rating on the technology company’s stock.
Several other analysts have also recently commented on the company. Cowen dropped their price target on Nordstrom from $44.00 to $36.00 and set a market perform rating for the company in a research report on Thursday, May 23rd. Mizuho set a $11.00 price target on Teva Pharmaceutical Industries and gave the stock a hold rating in a research report on Monday, June 17th. Zacks Investment Research cut HEXO from a hold rating to a sell rating in a research report on Wednesday, May 15th. Goldman Sachs Group reiterated a neutral rating and set a $393.00 price target on shares of Boeing in a research report on Monday, April 8th. Finally, Jefferies Financial Group set a €20.00 ($23.26) target price on ThyssenKrupp and gave the company a buy rating in a report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $22.00.
Shares of SYMC opened at $25.57 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.85 and a quick ratio of 0.85. Symantec has a one year low of $17.42 and a one year high of $26.07. The stock has a market capitalization of $15.81 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 2.57 and a beta of 1.31. The stock’s 50 day moving average price is $20.97.
Symantec (NASDAQ:SYMC) last issued its quarterly earnings results on Thursday, May 9th. The technology company reported $0.39 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. Symantec had a return on equity of 13.05% and a net margin of 0.59%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the business earned $0.46 earnings per share. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. Sell-side analysts predict that Symantec will post 1.26 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Monday, June 10th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Friday, June 7th. Symantec’s payout ratio is currently 25.64%.
In related news, Director Peter A. Feld bought 650,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was bought at an average cost of $19.51 per share, for a total transaction of $12,681,500.00. Following the acquisition, the director now directly owns 22,117 shares in the company, valued at $431,502.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Symantec by 2.7% in the 1st quarter. BlackRock Inc. now owns 43,461,601 shares of the technology company’s stock valued at $999,183,000 after purchasing an additional 1,152,103 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Symantec by 9.9% in the 1st quarter. AQR Capital Management LLC now owns 13,861,111 shares of the technology company’s stock valued at $317,281,000 after purchasing an additional 1,249,429 shares during the last quarter. CI Investments Inc. acquired a new position in shares of Symantec in the 4th quarter valued at $192,976,000. FMR LLC lifted its stake in shares of Symantec by 14.8% in the 1st quarter. FMR LLC now owns 10,082,097 shares of the technology company’s stock valued at $231,787,000 after purchasing an additional 1,302,412 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. lifted its stake in shares of Symantec by 1.9% in the 1st quarter. Beutel Goodman & Co Ltd. now owns 5,261,953 shares of the technology company’s stock valued at $90,524,000 after purchasing an additional 98,537 shares during the last quarter. 91.71% of the stock is currently owned by institutional investors and hedge funds.
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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