TheStreet Reiterates Buy Rating for Symantec Corp. (SYMC)
Posted by Nolan Pearson on Jul 5th, 2013 // No Comments
Symantec Corp. (NASDAQ: SYMC)‘s stock had its “buy” rating restated by equities researchers at TheStreet in a research report issued on Friday, AnalystRatings.Net 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 Corp. 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 Corp. 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 Corp. 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.
Eleven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $25.42.
Symantec Corp. (NASDAQ: SYMC) traded up 2.15% on Friday, hitting $22.84. Symantec Corp. has a 52-week low of $13.06 and a 52-week high of $25.26. The stock’s 50-day moving average is currently $22.64. The company has a market cap of $15.911 billion and a price-to-earnings ratio of 20.70.
Symantec Corp. (NASDAQ: SYMC) last released its earnings data on Tuesday, May 7th. The company reported $0.44 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.38 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts expect that Symantec Corp. will post $1.89 EPS for the current fiscal year.
Symantec Corporation is a global provider of security, storage, and systems management solutions that help businesses and consumers secure and manage their information.