TheStreet Reiterates “Buy” Rating for Symantec (SYMC)

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Symantec (NASDAQ: SYMC)‘s stock had its “buy” rating restated by TheStreet in a research note issued on Friday, ARN reports.

The analysts wrote, “Symantec (SYMC) has been reiterated by TheStreet Ratings as a buy with a ratings score of B. The company’s strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, reasonable valuation levels, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income.”

A number of other analysts have also recently weighed in on SYMC. Analysts at B. Riley reiterated a “buy” rating on shares of Symantec in a research note to investors on Tuesday, May 14th. They now have a $27.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Symantec in a research note to investors on Thursday, May 9th. They now have a $26.00 price target on the stock. Finally, analysts at Robert W. Baird raised their price target on shares of Symantec from $23.00 to $25.00 in a research note to investors on Wednesday, May 8th. They now have a “neutral” rating on the stock.

Twelve investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Symantec has a consensus rating of “Buy” and an average target price of $25.42.

Shares of Symantec (NASDAQ: SYMC) traded down 0.53% during mid-day trading on Friday, hitting $22.37. Symantec has a one year low of $13.06 and a one year high of $24.91. The stock’s 50-day moving average is currently $24.3. The company has a market cap of $15.584 billion and a P/E ratio of 20.82.

Symantec (NASDAQ: SYMC) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.44 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.38 by $0.06. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, analysts predict that Symantec will post $1.89 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Thursday, June 27th. Investors of record on Wednesday, June 19th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Monday, June 17th.

Symantec Corporation is a global provider of security, storage, and systems management solutions that help businesses and consumers secure and manage their information.

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