Symantec Co. (SYMC) Receives $30.76 Consensus PT from Analysts

Shares of Symantec Co. (NASDAQ:SYMC) have earned a consensus recommendation of “Hold” from the twenty-six ratings firms that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $30.76.

SYMC has been the subject of several recent research reports. Bank of America upped their price target on shares of Symantec from $19.00 to $21.00 and gave the company an “underperform” rating in a research report on Thursday, February 1st. BidaskClub cut shares of Symantec from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 13th. Evercore ISI reiterated a “hold” rating and set a $25.00 price objective on shares of Symantec in a research report on Thursday, February 1st. Stephens reiterated a “hold” rating and set a $29.00 price objective on shares of Symantec in a research report on Thursday, February 1st. Finally, Zacks Investment Research cut shares of Symantec from a “hold” rating to a “sell” rating in a research report on Tuesday, April 3rd.

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Shares of NASDAQ SYMC opened at $27.52 on Thursday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.13. Symantec has a 52-week low of $24.93 and a 52-week high of $34.20. The company has a market capitalization of $17,154.47, a price-to-earnings ratio of 41.70, a price-to-earnings-growth ratio of 2.27 and a beta of 0.87.

Symantec (NASDAQ:SYMC) last announced its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.05. Symantec had a net margin of 22.24% and a return on equity of 14.26%. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the prior year, the company posted $0.32 EPS. The company’s revenue was up 13.4% on a year-over-year basis. research analysts expect that Symantec will post 0.99 earnings per share for the current year.

In related news, Director Suzanne M. Vautrinot sold 4,000 shares of the stock in a transaction on Friday, March 9th. The shares were sold at an average price of $27.72, for a total transaction of $110,880.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Francis C. Rosch sold 51,899 shares of the stock in a transaction on Monday, March 5th. The stock was sold at an average price of $26.59, for a total transaction of $1,379,994.41. Following the transaction, the executive vice president now directly owns 213,026 shares in the company, valued at $5,664,361.34. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. boosted its stake in Symantec by 2.3% during the fourth quarter. Franklin Resources Inc. now owns 29,647,490 shares of the technology company’s stock worth $831,913,000 after acquiring an additional 664,845 shares in the last quarter. Orbis Allan Gray Ltd boosted its stake in Symantec by 308.8% during the fourth quarter. Orbis Allan Gray Ltd now owns 29,262,025 shares of the technology company’s stock worth $821,092,000 after acquiring an additional 22,104,563 shares in the last quarter. CI Global Investments Inc. boosted its stake in Symantec by 27.2% during the fourth quarter. CI Global Investments Inc. now owns 12,644,999 shares of the technology company’s stock worth $354,819,000 after acquiring an additional 2,702,027 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Symantec by 2.5% during the third quarter. Neuberger Berman Group LLC now owns 7,499,042 shares of the technology company’s stock worth $246,044,000 after acquiring an additional 183,766 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Symantec by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 6,821,186 shares of the technology company’s stock worth $191,016,000 after acquiring an additional 206,884 shares in the last quarter. 95.39% of the stock is currently owned by institutional investors and hedge funds.

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Symantec Company Profile

Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection and cyber security services. 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.

Analyst Recommendations for Symantec (NASDAQ:SYMC)

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