Monness Crespi & Hardt Initiates Coverage on Symantec (NASDAQ:SYMC)

Monness Crespi & Hardt assumed coverage on shares of Symantec (NASDAQ:SYMC) in a report published on Wednesday morning, Briefing.com Automated Import reports. The firm issued a neutral rating on the technology company’s stock.

SYMC has been the topic of several other research reports. ValuEngine upgraded Vistra Energy from a hold rating to a buy rating in a research note on Wednesday, July 3rd. Cowen cut their target price on Nordstrom from $44.00 to $36.00 and set a market perform rating on the stock in a research note on Thursday, May 23rd. Wedbush reiterated a neutral rating and issued a $28.00 target price (up previously from $26.00) on shares of Symantec in a research note on Thursday, July 4th. Robert W. Baird initiated coverage on ANCHIANO THERAP/S in a research note on Tuesday, May 28th. They issued an outperform rating and a $12.00 target price on the stock. Finally, Morgan Stanley lifted their target price on from GBX 1,430 ($18.69) to GBX 1,560 ($20.38) and gave the company an equal weight rating in a research note on Tuesday, June 11th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of Hold and a consensus price target of $22.00.

Shares of Symantec stock opened at $25.57 on Wednesday. The stock has a market capitalization of $15.81 billion, a price-to-earnings ratio of 22.23, a P/E/G ratio of 2.57 and a beta of 1.31. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.85 and a current ratio of 0.85. Symantec has a 12 month low of $17.42 and a 12 month high of $26.07. The company’s fifty day moving average price is $20.97.

Symantec (NASDAQ:SYMC) last announced its quarterly earnings results on Thursday, May 9th. The technology company reported $0.39 EPS for the quarter, meeting the consensus estimate of $0.39. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.21 billion. Symantec had a return on equity of 13.05% and a net margin of 0.59%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 earnings per share. As a group, research analysts forecast that Symantec will post 1.26 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Monday, June 10th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.17%. Symantec’s payout ratio is 25.64%.

In other Symantec news, Director Peter A. Feld purchased 650,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were acquired at an average price of $19.51 per share, for a total transaction of $12,681,500.00. Following the completion of the purchase, the director now owns 22,117 shares of the company’s stock, valued at $431,502.67. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 1.90% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of SYMC. CI Investments Inc. purchased a new stake in shares of Symantec during the fourth quarter worth about $192,976,000. Norges Bank acquired a new stake in shares of Symantec during the fourth quarter worth about $97,166,000. FMR LLC lifted its holdings in shares of Symantec by 44.1% during the fourth quarter. FMR LLC now owns 8,779,685 shares of the technology company’s stock worth $165,892,000 after purchasing an additional 2,686,107 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Symantec by 9.9% during the first quarter. AQR Capital Management LLC now owns 13,861,111 shares of the technology company’s stock worth $317,281,000 after purchasing an additional 1,249,429 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of Symantec by 2.7% during the first quarter. BlackRock Inc. now owns 43,461,601 shares of the technology company’s stock worth $999,183,000 after purchasing an additional 1,152,103 shares during the period. Institutional investors and hedge funds own 91.71% of the company’s stock.

About Symantec

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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Analyst Recommendations for Symantec (NASDAQ:SYMC)

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