First Analysis Lowers Symantec to Equal Weight (SYMC)

By admin | 6 years ago

Symantec (NASDAQ: SYMC) was downgraded by First Analysis from an “overweight” rating to an “equal weight” rating in a research note issued on Thursday.

A number of other analysts have also recently weighed in on SYMC. Analysts at Credit Suisse (NYSE: CS) cut their price target on shares of Symantec to $22.00 in a research note to investors on Wednesday, April 25th. They now have an “outperform” rating on the stock. Separately, analysts at Lazard Capital downgraded shares of Symantec from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, April 25th. Finally, analysts at RBC Capital (NYSE: RY) downgraded shares of Symantec from an “outperform” rating to a “sector perform” rating in a research note to investors on Wednesday, April 25th. They now have a $18.00 price target on the stock, down previously from $21.00.

Symantec traded down 2.22% on Thursday, hitting $15.87. Symantec has a 1-year low of $14.94 and a 1-year high of $20.50. The company has a market cap of $11.553 billion and a price-to-earnings ratio of 10.34.

The company last announced its quarterly results on Wednesday, May 2nd. It reported $0.38 earnings per share (EPS) for the previous quarter, meeting the Thomson Reuters consensus estimate of $0.38 EPS. The company’s quarterly revenue was up .5% on a year-over-year basis. Analysts expect that Symantec will post $0.42 EPS next quarter.

Symantec Corporation (Symantec) provides security, storage, and systems management solutions. Symantec conducts the business in three geographic regions: Americas, which consist of the United States, Canada, and Latin America; Europe, the Middle East and Africa, and Asia Pacific Japan.

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