Symantec Co. (SYMC) Receives Average Rating of “Hold” from Brokerages

Shares of Symantec Co. (NASDAQ:SYMC) have received a consensus recommendation of “Hold” from the twenty-seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $23.06.

A number of research firms have commented on SYMC. ValuEngine raised Symantec from a “hold” rating to a “buy” rating in a report on Friday, November 16th. BidaskClub raised Symantec from a “hold” rating to a “buy” rating in a report on Saturday, November 17th. Zacks Investment Research reissued a “sell” rating on shares of Symantec in a report on Friday, November 16th. Evercore ISI reissued a “hold” rating and issued a $22.00 price target on shares of Symantec in a report on Sunday, November 11th. Finally, Stifel Nicolaus raised their price target on Symantec from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Tuesday, September 25th.

NASDAQ:SYMC traded up $0.18 during trading hours on Friday, reaching $21.70. 1,484,674 shares of the stock were exchanged, compared to its average volume of 12,341,591. The company has a quick ratio of 1.10, a current ratio of 1.00 and a debt-to-equity ratio of 0.75. Symantec has a 52 week low of $17.49 and a 52 week high of $29.73. The company has a market cap of $13.75 billion, a PE ratio of 22.84, a P/E/G ratio of 2.73 and a beta of 0.90.

Symantec (NASDAQ:SYMC) last released its earnings results on Thursday, November 1st. The technology company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.09. Symantec had a return on equity of 13.99% and a net margin of 25.95%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the business posted $0.40 EPS. Symantec’s quarterly revenue was down 7.2% compared to the same quarter last year. As a group, sell-side analysts expect that Symantec will post 1 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Monday, November 19th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.38%. The ex-dividend date is Friday, November 16th. Symantec’s payout ratio is currently 31.58%.

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Symantec by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 65,537,473 shares of the technology company’s stock valued at $1,394,637,000 after acquiring an additional 902,112 shares in the last quarter. BlackRock Inc. raised its stake in Symantec by 0.8% during the 3rd quarter. BlackRock Inc. now owns 40,943,273 shares of the technology company’s stock valued at $871,273,000 after acquiring an additional 314,787 shares in the last quarter. Starboard Value LP bought a new stake in Symantec during the 3rd quarter valued at $521,398,000. Capital International Investors bought a new stake in Symantec during the 3rd quarter valued at $222,769,000. Finally, Morgan Stanley raised its stake in Symantec by 154.9% during the 2nd quarter. Morgan Stanley now owns 9,064,682 shares of the technology company’s stock valued at $187,185,000 after acquiring an additional 5,508,428 shares in the last quarter. 90.66% of the stock is currently owned by hedge funds and other institutional investors.

About Symantec

Symantec Corporation, together with its subsidiaries, provides cybersecurity solutions worldwide. It operates through two segments, Consumer Digital Safety and Enterprise Security. The Consumer Digital Safety segment provides Norton-branded services that provide multi-layer security services across desktop and mobile operating systems, public Wi-Fi connections, and home networks to defend against online threats to individuals, families, and small businesses.

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Analyst Recommendations for Symantec (NASDAQ:SYMC)

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