Symantec (SYMC) – Research Analysts’ Weekly Ratings Changes

A number of firms have modified their ratings and price targets on shares of Symantec (NASDAQ: SYMC) recently:

  • 5/16/2018 – Symantec was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “Estimates for Symantec have been revised downward after the company provided a disappointing outlook for Q1 & FY19. Furthermore, margins are anticipated to remain under pressure due to continued shift of the company’s business model to ratable revenues, and increased investment in sales and marketing capacity, which makes us cautious about its near-term performance. Going ahead, the ongoing internal investigations related to the reporting of certain non-GAAP accounting measures, which include executive compensation too, public disclosures including commentary on the company’s historical financial results, certain forward-looking statements, stock-trading plans and retaliate, remain a major concern. The probe may throw light on serious issues which will severely cost the company in near future. The stock has underperformed the industry in a year's time.”
  • 5/16/2018 – Symantec was downgraded by analysts at Goldman Sachs Group Inc from a “buy” rating to a “neutral” rating.
  • 5/15/2018 – Symantec was upgraded by analysts at Jefferies Group LLC from an “underperform” rating to a “hold” rating. They now have a $18.85 price target on the stock, down previously from $34.20.
  • 5/12/2018 – Symantec was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.
  • 5/11/2018 – Symantec had its price target lowered by analysts at Jefferies Group LLC to $20.00. They now have an “underperform” rating on the stock.
  • 5/11/2018 – Symantec was downgraded by analysts at Moffett Nathanson from a “neutral” rating to a “sell” rating. They now have a $20.00 price target on the stock.
  • 5/11/2018 – Symantec had its price target lowered by analysts at Credit Suisse Group from $30.00 to $26.00. They now have a “neutral” rating on the stock.
  • 5/11/2018 – Symantec was downgraded by analysts at BTIG Research from a “buy” rating to a “neutral” rating.
  • 5/11/2018 – Symantec was downgraded by analysts at Macquarie from an “outperform” rating to a “neutral” rating.
  • 5/11/2018 – Symantec had its “market perform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $33.00 price target on the stock.
  • 5/11/2018 – Symantec was downgraded by analysts at UBS from an “outperform” rating to a “market perform” rating.
  • 5/11/2018 – Symantec had its “hold” rating reaffirmed by analysts at Robert W. Baird. They now have a $25.00 price target on the stock. They wrote, “Investigation [ Please refer to Appendix – Certification ] LOWERING PRICE TARGET 1-Year Price Chart J – 1 7 J – 1 7 A – 1 7 S – 1 7 O – 1 7 N – 1 7 D – 1 7 J – 1 8 F – 1 8 M – 1 8 A – 1 8 M – 1 8 3 6 3 4 3 2 3 0 2 8 2 6 2 4 2 5 3 4 $29.18 Market Cap (mil): $19,346 Shares Out (mil): 663.0 Average Daily Vol (mil): 5.32 2.1% Estimates FY 0.29 A 0.33 A 0.33 E Q2 0.30 A 0.40 A 0.38 E Q3 0.32 A 0.49 A 0.43 E Q4 0.28 A 0.46 A 0.44 E Fiscal EPS 1.18 A 1.69 A 1.58 E Previous Est 1.62 A 1.68 E FactSet and Baird Data. Price chart reflects most recent closing price. Jayson Noland, CFA Sr.””
  • 5/11/2018 – Symantec was downgraded by analysts at Barclays PLC from an “overweight” rating to an “equal weight” rating.
  • 5/11/2018 – Symantec was downgraded by analysts at First Analysis from an “overweight” rating to an “equal weight” rating. They now have a $23.00 price target on the stock, down previously from $35.00.
  • 5/10/2018 – Symantec was downgraded by analysts at Piper Jaffray Companies from an “overweight” rating to a “neutral” rating.
  • 5/10/2018 – Symantec was downgraded by analysts at TheStreet from a “b” rating to a “c+” rating.
  • 4/27/2018 – Symantec was downgraded by analysts at JMP Securities from an “outperform” rating to a “market perform” rating.
  • 4/26/2018 – Symantec was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 4/11/2018 – Symantec was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 4/9/2018 – Symantec was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Symantec is one of the world’s leading internet security solution providers. Estimates for the stock have remained stable, of late. We believe rise in demand for cybersecurity-related products due to continuously increasing global hacking events, along with acquisitions, are likely to drive Symantec’s near-term results. Nonetheless, the company’s last few quarter’s revenues have been hurt by faster-than-expected shift to ratable and subscription-based revenue model, which makes us slightly cautious about its near-term growth prospect. Furthermore, we consider that although the sale of its certified authority business will avoid conflicts with Alphabet, the loss of high margin business may hurt its near-term profitability. Moreover, increasing competition from existing and newer companies remain headwinds. The stock has underperformed the industry in the last one year.”
  • 4/6/2018 – Symantec was upgraded by analysts at Standpoint Research from a “hold” rating to a “buy” rating.
  • 4/3/2018 – Symantec was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Symantec is one of the world’s leading internet security solution providers. Estimates for the stock have remained stable, of late. We believe rise in demand for cybersecurity-related products due to continuously increasing global hacking events, along with acquisitions, are likely to drive Symantec’s near-term results. Nonetheless, the company’s last few quarter’s revenues have been hurt by faster-than-expected shift to ratable and subscription-based revenue model, which makes us slightly cautious about its near-term growth prospect. Furthermore, we consider that although the sale of its certified authority business will avoid conflicts with Alphabet, the loss of high margin business may hurt its near-term profitability. Moreover, increasing competition from existing and newer companies remain headwinds. The stock has underperformed the industry in the last one year.”

Symantec opened at $21.05 on Thursday, Marketbeat.com reports. Symantec has a fifty-two week low of $18.85 and a fifty-two week high of $34.20. The company has a quick ratio of 1.15, a current ratio of 1.11 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $13.06 billion, a PE ratio of 22.16, a PEG ratio of 2.96 and a beta of 0.86.

Symantec (NASDAQ:SYMC) last posted its earnings results on Thursday, May 10th. The technology company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.07. Symantec had a return on equity of 16.24% and a net margin of 23.98%. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the business earned $0.28 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. equities research analysts expect that Symantec will post 0.86 EPS for the current year.



The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 20th. Stockholders of record on Friday, June 8th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Thursday, June 7th. Symantec’s payout ratio is currently 31.58%.

In related news, EVP Scott C. Taylor sold 41,284 shares of the business’s stock in a transaction dated Monday, April 16th. The stock was sold at an average price of $27.61, for a total value of $1,139,851.24. Following the transaction, the executive vice president now owns 188,426 shares in the company, valued at approximately $5,202,441.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Suzanne M. Vautrinot sold 4,000 shares of the business’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $27.72, for a total value of $110,880.00. The disclosure for this sale can be found here. Insiders sold a total of 97,183 shares of company stock valued at $2,630,726 over the last three months. Company insiders own 1.30% of the company’s stock.

A number of hedge funds have recently modified their holdings of SYMC. Schwab Charles Investment Management Inc. increased its position in Symantec by 3.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,322,932 shares of the technology company’s stock valued at $65,182,000 after acquiring an additional 71,267 shares during the period. SG Americas Securities LLC increased its position in Symantec by 4.0% in the 4th quarter. SG Americas Securities LLC now owns 109,999 shares of the technology company’s stock valued at $3,087,000 after acquiring an additional 4,201 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its position in Symantec by 183.2% in the 4th quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 53,226 shares of the technology company’s stock valued at $1,525,000 after acquiring an additional 34,431 shares during the period. LMR Partners LLP increased its position in Symantec by 199.2% in the 4th quarter. LMR Partners LLP now owns 42,616 shares of the technology company’s stock valued at $1,196,000 after acquiring an additional 28,373 shares during the period. Finally, Ledyard National Bank increased its position in Symantec by 13.6% in the 4th quarter. Ledyard National Bank now owns 15,870 shares of the technology company’s stock valued at $445,000 after acquiring an additional 1,905 shares during the period. Hedge funds and other institutional investors own 94.49% of the company’s stock.

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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