The Symantec Co. (SYMC) Given “Neutral” Rating at Citigroup Inc

The Symantec Co. (SYMC) Given “Neutral” Rating at Citigroup Inc

A number of other research analysts have also recently issued reports on the company. Morgan Stanley reissued an overweight rating and issued a $33.00 target price on shares of Symantec in a research note on Sunday, February 5th. Zacks Investment Research raised Symantec from a sell rating to a hold rating in a research note on Tuesday, April 18th. Wells Fargo & Co restated a market perform rating on shares of Symantec in a report on Friday, April 7th. OTR Global upgraded Symantec to a positive rating in a report on Friday, April 21st. Finally, JMP Securities boosted their price target on Symantec to $32.00 in a report on Thursday, February 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $30.14.

Citigroup Inc reiterated their neutral rating on shares of Symantec Co. (NASDAQ:SYMC) in a research note issued to investors on Thursday, May 11th. They currently have a $31.00 target price on the technology company’s stock, up from their previous target price of $29.00.

Symantec (NASDAQ:SYMC) opened at 30.08 on Thursday. Symantec has a 52 week low of $17.13 and a 52 week high of $33.22. The firm’s market cap is $18.30 billion. The company has a 50-day moving average of $30.93 and a 200 day moving average of $28.19. Symantec (NASDAQ:SYMC) last posted its earnings results on Wednesday, May 10th. The technology company reported $0.28 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.28. Symantec had a return on equity of 12.69% and a net margin of 55.12%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the previous year, the firm earned $0.22 earnings per share. The company’s revenue was up 34.7% on a year-over-year basis. On average, equities analysts predict that Symantec will post $1.78 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 21st. Shareholders of record on Wednesday, June 7th will be issued a dividend of $0.075 per share. The ex-dividend date is Monday, June 5th. This represents a $0.30 dividend on an annualized basis and a yield of 1.00%. Symantec’s payout ratio is currently 9.35%. In other news, CAO Mark S. Garfield sold 3,002 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $29.25, for a total value of $87,808.50. Following the completion of the sale, the chief accounting officer now directly owns 63,508 shares in the company, valued at approximately $1,857,609. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Suzanne M. Vautrinot sold 2,500 shares of the firm’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $30.69, for a total value of $76,725.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,429 shares of company stock valued at $3,091,230. 0.76% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of SYMC. BlackRock Inc. increased its stake in shares of Symantec by 2,815.1% in the first quarter. BlackRock Inc. now owns 40,975,309 shares of the technology company’s stock valued at $1,257,121,000 after buying an additional 39,569,694 shares in the last quarter. Jackson Square Partners LLC purchased a new stake in shares of Symantec during the third quarter valued at approximately $565,123,000. Lone Pine Capital LLC purchased a new stake in shares of Symantec during the fourth quarter valued at approximately $317,066,000. Capital World Investors purchased a new stake in shares of Symantec during the third quarter valued at approximately $241,211,000. Finally, Dodge & Cox acquired a new position in shares of Symantec during the fourth quarter valued at $180,155,000. Institutional investors own 93.90% of the company’s stock. About Symantec

Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection, cyber security services and Website security. 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SYMC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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