Standpoint Research has recently upgraded the stock for Symantec Corporation (NASDAQ:SYMC) from a hold to a buy rating. Analysts from Standpoint said that the upgrade was a valuation call.
The shares of Symantec Corp have climbed up by 0.05% on Thursday’s latest round of trading. The company has had a high of $27.10 and a low of $17.02 in the last one year. The average share price for the last 50 days is around $25.9 and the average for the last 200 days is around $24.24. On Thursday around 9.397,822 shares were traded, the company has a total market cap of $15.06 billion.
Symantec Corporation recently released its earnings results for the third quarter 2013 on the 23rd of October. The company has reported an EPS of $0.5 beating the estimate made by Thomson Reuters by $0.06. in the third quarter the company had a net revenue of $1.64 billion and analysts believe that the company will post earnings of $1.79 per share over the current fiscal year.
The company has also announced a quarterly dividend which will be paid out on the 18th of December for shareholders of record on the 25th of November at $0.15 per share. Several analyst have made comments on the stock for Symantec Corp, nine analysts have said that the stock is a hold, sixteen say that it is a buy and one says it is hold. Analysts at RBC Capital have also cut down on their target price for Symantec’s shares; the price was brought down from $30 to $26 in a research note published to investors. Bank of America analysts said that the stock was expected to underperform while analysts at Nomura have rated the stock as a hold with a target price of $29 on the stock.
