Symantec Corporation (SYMC) is Upgraded by Citigroup to Buy

Symantec Corporation (SYMC) was Upgraded by Citigroup to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. Citigroup advised their investors in a research report released on Aug 19, 2016.

Many Wall Street Analysts have commented on Symantec Corporation. Goldman Resumed Symantec Corporation on Aug 15, 2016 to “Buy”, Price Target of the shares are set at $26.Company shares were Reiterated by Wunderlich on Aug 5, 2016 to “Hold”, Firm has raised the Price Target to $ 23 from a previous price target of $19 .Company shares were Reiterated by RBC Capital Mkts on Aug 5, 2016 to “Outperform”, Firm has raised the Price Target to $ 25 from a previous price target of $24 .

On the company’s financial health, Symantec Corporation reported $0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.25. The company had revenue of $884.00 million for the quarter, compared to analysts expectations of $877.37 million. The company’s revenue was down -3.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.40 EPS.

Symantec Corporation closed down -0.06 points or -0.26% at $22.92 with 1,08,93,933 shares getting traded on Wednesday. Post opening the session at $23.06, the shares hit an intraday low of $22.82 and an intraday high of $23.125 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Jul 5, 2016, Suzanne M Vautrinot (director) sold 3,750 shares at $20.39 per share price. According to the SEC, on Jun 15, 2016, Mark S. Garfield (SVP and CAO) sold 11,852 shares at $18.76 per share price. On Feb 18, 2016, Anita M Sands (director) sold 1,000 shares at $20.00 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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