Traders sold shares of Symantec Co. (NASDAQ:SYMC) on strength during trading hours on Tuesday. $15.26 million flowed into the stock on the tick-up and $45.19 million flowed out of the stock on the tick-down, for a money net flow of $29.93 million out of the stock. Of all equities tracked, Symantec had the 33rd highest net out-flow for the day. Symantec traded up $0.19 for the day and closed at $19.55
SYMC has been the subject of a number of recent analyst reports. Morgan Stanley dropped their price objective on Symantec from $26.00 to $23.00 and set an “equal weight” rating for the company in a report on Monday, June 25th. Jefferies Financial Group dropped their price objective on Symantec to $20.00 and set an “underperform” rating for the company in a report on Friday, May 11th. Goldman Sachs Group downgraded Symantec from a “buy” rating to a “neutral” rating in a report on Wednesday, May 16th. Susquehanna Bancshares upgraded Symantec from a “neutral” rating to a “positive” rating and upped their price objective for the company from $21.00 to $23.00 in a report on Tuesday. Finally, Bank of America dropped their price objective on Symantec from $21.00 to $19.00 and set an “underperform” rating for the company in a report on Monday, July 30th. Four investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $24.55.
The company has a quick ratio of 1.15, a current ratio of 1.16 and a debt-to-equity ratio of 0.85. The company has a market cap of $12.10 billion, a PE ratio of 20.58, a PEG ratio of 2.74 and a beta of 0.67.
Symantec (NASDAQ:SYMC) last posted its earnings results on Thursday, August 2nd. The technology company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.01. Symantec had a return on equity of 14.54% and a net margin of 25.52%. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the firm earned $0.33 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. equities research analysts anticipate that Symantec Co. will post 0.9 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 12th. Shareholders of record on Monday, August 20th will be paid a $0.075 dividend. The ex-dividend date is Friday, August 17th. This represents a $0.30 dividend on an annualized basis and a yield of 1.53%. Symantec’s payout ratio is 31.58%.
A number of large investors have recently bought and sold shares of SYMC. Point72 Asia Hong Kong Ltd acquired a new position in Symantec in the first quarter valued at about $109,000. Optimum Investment Advisors acquired a new position in shares of Symantec during the first quarter worth about $129,000. Dupont Capital Management Corp boosted its position in shares of Symantec by 117.9% during the first quarter. Dupont Capital Management Corp now owns 5,265 shares of the technology company’s stock worth $136,000 after buying an additional 2,849 shares during the period. Piedmont Investment Advisors LLC acquired a new position in shares of Symantec during the second quarter worth about $150,000. Finally, Cerebellum GP LLC boosted its position in shares of Symantec by 47.9% during the second quarter. Cerebellum GP LLC now owns 8,295 shares of the technology company’s stock worth $171,000 after buying an additional 2,685 shares during the period. 93.11% of the stock is owned by hedge funds and other institutional investors.
Symantec Company Profile (NASDAQ:SYMC)
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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