Symantec Corporation (SYMC) is Downgraded by Raymond James to Mkt Perform

Symantec Corporation (SYMC) was Downgraded by Raymond James to ” Mkt Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Raymond James advised their investors in a research report released on Apr 28, 2016.

Many Wall Street Analysts have commented on Symantec Corporation. Symantec Corporation was Upgraded by Piper Jaffray to ” Overweight” on Mar 21, 2016. Symantec Corporation was Initiated by Goldman to “Neutral” on Mar 21, 2016. RBC Capital Mkts Upgraded Symantec Corporation on Mar 11, 2016 to ” Outperform”, Price Target of the shares are set at $23.

On the company’s financial health, Symantec Corporation reported $0.26 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Feb 4, 2016. Analyst had a consensus of $0.24. The company had revenue of $909.00 million for the quarter, compared to analysts expectations of $905.38 million. The company’s revenue was down -6.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.33 EPS.

Symantec Corporation opened for trading at $18.04 and hit $18.16 on the upside on Wednesday, eventually ending the session at $18.11, with a gain of 0.39% or 0.07 points. The heightened volatility saw the trading volume jump to 52,24,628 shares. Company has a market cap of $11,812 M.

In a different news, on Mar 3, 2016, Mark S. Garfield (SVP and CAO) sold 6,094 shares at $20.33 per share price. According to the SEC, on Feb 18, 2016, Anita M Sands (director) sold 1,000 shares at $20.00 per share price. On Dec 4, 2015, Brett Shirk (EVP, Veritas Worldwide Sales) sold 6,628 shares at $19.65 per share price, according to the Form-4 filing with the securities and exchange commission.

Symantec Corporation provides security backup and availability solutions. The Company operates in three segments: Consumer Security Enterprise Security and Information Management. The Company’s products and services offer protection of information in any environment from the mobile device to the enterprise data center to cloud-based systems. Consumers receive automatic downloads of the latest virus definitions application bug fixes and patches for its consumer product. The Company’s enterprise security support program offers annual maintenance support contracts including content upgrades and technical support. The Company’s Consumer Security segment offers Norton-branded services which provide multi-layer security and identity protection on desktop and mobile operating systems to defend against online threats to individuals families and small businesses.

Symantec Corporation

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