(SYMC) Announces Quarterly Earnings Results

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(SYMC) Announces Quarterly Earnings Results

Shares of Symantec closed the previous trading session at 33.14 up +0.77 2.38% with 8,958,980 shares trading hands. It fall, as 43 investors sold Symantec Corporation shares while 192 reduced holdings. The short ratio in the company's stock is documented at 4.38 and the short float is around of 3.95%. Citigroup Inc started coverage on shares of Symantec in a research report on Monday, January 30th. FMR LLC raised its stake in shares of Symantec by 41.9% in the first quarter. Bessemer Group Inc. boosted its stake in shares of Symantec by 1,277.5% in the fourth quarter. Symantec's quarterly revenue was up 34.7% compared to the same quarter past year. Symantec Corporation (SYMC) has made its way to a 12-month gain of 100.16%.

Symantec (NASDAQ:SYMC) traded down 5.07% on Thursday, hitting $31.46. The stock is expected to report revenue as high as $1.33B and as low as $1.28B per share. Company's distance from 20 day simple moving average is 6.11% and distance from 50-Day simple moving average is 8.27%. The total market capitalization remained at $19.93 billion. The current share price indicates that stock is 1.81% away from its one year high and is moving 106.69% ahead of its 52-week low.

Since November 16, 2016, it had 2 insider buys, and 2 insider sales for $122,483 activity. This is an increase of 861% compared to the average volume of 1,677 call options.

Recently analysts working for various investment brokerages have changed their ratings and price targets on shares of Symantec Corporation (NASDAQ:SYMC). The technology company reported $0.28 earnings per share (EPS) for the quarter, meeting the Zacks' consensus estimate of $0.28. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion.

Earnings per share (EPS) is the portion of a company's profit allocated to each outstanding share of common stock. Equities research analysts anticipate that Symantec Co. will post $1.78 EPS for the current year.

Investors looking to grow long term wealth should devote at least some of their portfolio to companies that pay dividends. This represents a $0.30 dividend on an annualized basis and a dividend yield of 0.95%. The rating was upgraded by UBS to "Buy" on Monday, June 20. Municipal Employees Retirement System of MI raised its stake in shares of Symantec by 1.5% in the first quarter.

COPYRIGHT VIOLATION NOTICE: "Symantec Co". If you are viewing this article on another publication, it was copied illegally and republished in violation of US and worldwide copyright and trademark legislation. The correct version of this story can be accessed at https://www.thecerbatgem.com/2017/05/12/symantec-co-symc-position-boosted-by-retirement-systems-of-alabama-updated.html. Stifel Nicolaus reiterated a "hold" rating and set a $27.00 price target (up previously from $25.00) on shares of Symantec in a research report on Thursday. Analysts have a mean recommendation of 2.50 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range). Finally, OTR Global upgraded Symantec to a "positive" rating in a research report on Friday, April 21st. Morgan Stanley raised their price target on shares of Symantec from $33.00 to $37.00 and gave the company an "overweight" rating in a research note on Wednesday, March 22nd. Buy rating has been given by 1 analysts to the company stock whereas 1 analyst given UNDERPERFORM rating to stock and 6 analysts given HOLD rating. The stock has a consensus rating of "Hold" and an average price target of $29.30. The shares were sold at an average price of $28.51, for a total value of $228,080.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Shares for $341,852 were sold by Fey Michael David on Tuesday, January 17. The stock was sold at an average price of $28.55, for a total transaction of $377,288.25.

A stock rating usually tells investors how well a stock's market value relates to what analysts think is a fair value for the stock, based on an independent evaluation of the company. The disclosure for this sale can be found here. The insider TAYLOR SCOTT C sold 32,000 shares worth $832,560.

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