Trade Report: Today, Symantec Corp.’s (SYMC) Buy Rating Reiterate at JMP Securities

Today, Symantec Corp.’s (SYMC) Buy Rating Reiterate at JMP Securities

JMP Securities reissued their buy rating on shares of Symantec Corp. (NASDAQ:SYMC) in a research note published on Tuesday morning.

Other equities research analysts have also recently issued reports about the stock. Bank of America Corp. set a $18.00 price objective on shares of Symantec Corp. and gave the company a sell rating in a research report on Sunday, November 6th. RBC Capital Markets reaffirmed an outperform rating and issued a $25.00 price objective (up from $24.00) on shares of Symantec Corp. in a research report on Friday, August 5th. MKM Partners boosted their price objective on shares of Symantec Corp. from $18.00 to $21.00 and gave the company a neutral rating in a research report on Tuesday, August 2nd. Oppenheimer Holdings Inc. raised shares of Symantec Corp. from a market perform rating to an outperform rating and set a $28.00 price objective on the stock in a research report on Friday, August 5th. Finally, Zacks Investment Research cut shares of Symantec Corp. from a strong-buy rating to a hold rating in a research report on Wednesday, August 10th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $25.44.

Shares of Symantec Corp. (NASDAQ:SYMC) opened at 24.85 on Tuesday. The firm has a market cap of $15.49 billion, a P/E ratio of 7.18 and a beta of 1.23. The stock’s 50 day moving average price is $24.66 and its 200-day moving average price is $22.03. Symantec Corp. has a 12 month low of $16.14 and a 12 month high of $25.72.

Symantec Corp. (NASDAQ:SYMC) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.10. The company had revenue of $979 million for the quarter, compared to analysts’ expectations of $978.86 million. Symantec Corp. had a net margin of 60.52% and a return on equity of 11.62%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the firm posted $0.44 earnings per share. Equities research analysts anticipate that Symantec Corp. will post $1.16 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 14th. Stockholders of record on Monday, November 21st will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, November 17th. Symantec Corp.’s dividend payout ratio (DPR) is presently 8.85%.

In other news, EVP Scott C. Taylor sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 25th. The shares were sold at an average price of $25.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the executive vice president now owns 272,577 shares of the company’s stock, valued at approximately $6,814,425. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Amy L. Cappellanti-Wolf sold 15,474 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $24.88, for a total transaction of $384,993.12. Following the sale, the senior vice president now directly owns 112,103 shares of the company’s stock, valued at approximately $2,789,122.64. The disclosure for this sale can be found here. Insiders own 0.76% of the company’s stock.

Several hedge funds have recently modified their holdings of SYMC. Americafirst Capital Management LLC purchased a new stake in shares of Symantec Corp. during the second quarter worth $109,000. Tower Research Capital LLC TRC increased its position in shares of Symantec Corp. by 339.8% in the second quarter. Tower Research Capital LLC TRC now owns 5,317 shares of the company’s stock valued at $109,000 after buying an additional 4,108 shares during the last quarter. BKS Advisors LLC bought a new position in shares of Symantec Corp. during the third quarter valued at approximately $113,000. Advisor Group Inc. increased its position in shares of Symantec Corp. by 18.3% in the third quarter. Advisor Group Inc. now owns 4,636 shares of the company’s stock valued at $117,000 after buying an additional 717 shares during the last quarter. Finally, FUKOKU MUTUAL LIFE INSURANCE Co increased its position in shares of Symantec Corp. by 23.4% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 5,800 shares of the company’s stock valued at $119,000 after buying an additional 1,100 shares during the last quarter. 96.69% of the stock is owned by institutional investors.

Symantec Corp. Company Profile

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