Symantec Co. (NASDAQ:SYMC) Receives $23.20 Consensus PT from Analysts

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Shares of Symantec Co. (NASDAQ:SYMC) have been assigned an average recommendation of “Hold” from the sixteen ratings firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $23.20.

SYMC has been the subject of a number of recent analyst reports. Wedbush set a $19.00 price target on shares of Symantec and gave the company a “hold” rating in a report on Monday, July 15th. BidaskClub cut shares of Symantec from a “sell” rating to a “strong sell” rating in a report on Saturday, October 26th. Argus restated a “hold” rating on shares of Symantec in a report on Tuesday, August 13th. Evercore ISI set a $22.00 price target on shares of Symantec and gave the company a “hold” rating in a report on Friday, August 9th. Finally, Morgan Stanley upgraded shares of Symantec from an “underweight” rating to an “equal weight” rating and set a $27.00 price target for the company in a report on Friday, August 9th.

In related news, Director Peter A. Feld acquired 1,325,814 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was acquired at an average price of $22.95 per share, with a total value of $30,427,431.30. Following the completion of the transaction, the director now owns 24,685 shares of the company’s stock, valued at $566,520.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Samir Kapuria sold 9,674 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $23.12, for a total transaction of $223,662.88. Following the transaction, the executive vice president now directly owns 348,470 shares of the company’s stock, valued at approximately $8,056,626.40. The disclosure for this sale can be found here. Insiders have sold 29,022 shares of company stock valued at $678,825 in the last ninety days. 1.90% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in SYMC. Arcadia Investment Management Corp MI acquired a new position in Symantec in the second quarter worth about $39,000. CX Institutional raised its position in Symantec by 40.0% in the second quarter. CX Institutional now owns 3,937 shares of the technology company’s stock worth $86,000 after purchasing an additional 1,124 shares in the last quarter. Sanders Morris Harris LLC acquired a new position in Symantec in the second quarter worth about $215,000. Capital Fund Management S.A. raised its position in Symantec by 39.1% in the second quarter. Capital Fund Management S.A. now owns 1,037,009 shares of the technology company’s stock worth $22,565,000 after purchasing an additional 291,700 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in Symantec by 62.7% in the second quarter. Bessemer Group Inc. now owns 36,640 shares of the technology company’s stock worth $797,000 after purchasing an additional 14,114 shares in the last quarter. 90.27% of the stock is owned by institutional investors and hedge funds.

SYMC stock traded up $0.34 during mid-day trading on Friday, reaching $23.75. 8,130,500 shares of the stock traded hands, compared to its average volume of 4,062,447. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.79. Symantec has a 52 week low of $17.42 and a 52 week high of $26.07. The business has a 50-day moving average of $23.39 and a two-hundred day moving average of $22.46. The firm has a market capitalization of $14.47 billion, a PE ratio of 20.30, a P/E/G ratio of 3.77 and a beta of 1.28.

Symantec (NASDAQ:SYMC) last released its quarterly earnings results on Thursday, August 8th. The technology company reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.11. Symantec had a net margin of 2.43% and a return on equity of 14.94%. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the company earned $0.34 earnings per share. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities research analysts anticipate that Symantec will post 1.33 EPS for the current fiscal year.

Symantec Company Profile

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.

Read More: Diluted Earnings Per Share

Analyst Recommendations for Symantec (NASDAQ:SYMC)

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