Symantec Corporation (SYMC) Downgraded by BidaskClub

BidaskClub lowered shares of Symantec Corporation (NASDAQ:SYMC) from a buy rating to a hold rating in a report issued on Thursday morning.

Several other research analysts have also commented on the stock. Evercore ISI set a $25.00 price target on shares of Symantec Corporation and gave the stock a hold rating in a research note on Saturday, June 10th. Robert W. Baird restated a hold rating on shares of Symantec Corporation in a research note on Saturday, June 10th. Oppenheimer Holdings, Inc. restated an outperform rating and set a $33.00 price target (up previously from $32.00) on shares of Symantec Corporation in a research note on Friday, June 9th. Goldman Sachs Group, Inc. (The) restated a buy rating and set a $36.00 price target on shares of Symantec Corporation in a research note on Friday, June 9th. Finally, Susquehanna Bancshares Inc assumed coverage on shares of Symantec Corporation in a research note on Wednesday, June 7th. They set a neutral rating and a $32.00 price target on the stock. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have issued a buy rating to the company. Symantec Corporation presently has an average rating of Hold and an average target price of $30.48.

Analyst Recommendations for Symantec Corporation (NASDAQ:SYMC)

Shares of Symantec Corporation (NASDAQ SYMC) opened at 28.88 on Thursday. Symantec Corporation has a 52-week low of $19.79 and a 52-week high of $33.22. The firm’s market capitalization is $17.57 billion. The stock’s 50 day moving average is $30.48 and its 200-day moving average is $28.63. Symantec Corporation also saw unusually large options trading activity on Monday. Investors bought 29,300 call options on the stock. This represents an increase of approximately 449% compared to the average volume of 5,335 call options.

Symantec Corporation (NASDAQ:SYMC) last announced its quarterly earnings results on Wednesday, May 10th. The technology company reported $0.28 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.28. Symantec Corporation had a negative net margin of 2.64% and a positive return on equity of 11.06%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the prior year, the business posted $0.22 EPS. Symantec Corporation’s quarterly revenue was up 34.7% on a year-over-year basis. On average, equities analysts forecast that Symantec Corporation will post $1.79 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by Ticker Report and is the sole property of of Ticker Report. If you are reading this news story on another site, it was copied illegally and reposted in violation of United States and international trademark and copyright laws. The correct version of this news story can be viewed at https://www.tickerreport.com/banking-finance/2654783/symantec-corporation-symc-downgraded-by-bidaskclub.html.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 21st. Shareholders of record on Wednesday, June 7th will be given a $0.075 dividend. The ex-dividend date of this dividend is Monday, June 5th. This represents a $0.30 annualized dividend and a yield of 1.04%. Symantec Corporation’s dividend payout ratio is -176.47%.

In other Symantec Corporation news, EVP Scott C. Taylor sold 13,000 shares of the firm’s stock in a transaction on Monday, April 17th. The shares were sold at an average price of $30.15, for a total value of $391,950.00. Following the sale, the executive vice president now directly owns 250,030 shares in the company, valued at approximately $7,538,404.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Suzanne M. Vautrinot sold 2,500 shares of the firm’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $30.69, for a total transaction of $76,725.00. The disclosure for this sale can be found here. Insiders sold a total of 159,909 shares of company stock worth $4,886,750 over the last 90 days. Company insiders own 0.76% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the company. Intellectus Partners LLC acquired a new position in Symantec Corporation during the fourth quarter worth approximately $124,000. Advisory Services Network LLC acquired a new position in Symantec Corporation during the first quarter worth approximately $142,000. Bessemer Group Inc. increased its position in Symantec Corporation by 1,277.5% in the fourth quarter. Bessemer Group Inc. now owns 6,612 shares of the technology company’s stock worth $158,000 after buying an additional 6,132 shares during the last quarter. Johnson Financial Group Inc. increased its position in Symantec Corporation by 8.0% in the first quarter. Johnson Financial Group Inc. now owns 5,271 shares of the technology company’s stock worth $162,000 after buying an additional 390 shares during the last quarter. Finally, IFP Advisors Inc increased its position in Symantec Corporation by 0.3% in the first quarter. IFP Advisors Inc now owns 6,283 shares of the technology company’s stock worth $193,000 after buying an additional 19 shares during the last quarter. Institutional investors own 94.11% of the company’s stock.

Symantec Corporation Company Profile

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SYMC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Receive News & Ratings for Symantec Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Symantec Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
President Trump Hurting Tourism in the U.S.
President Trump Hurting Tourism in the U.S.
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.