Symantec shares lose one third of value overnight

Fed Meets As Speculation Builds On Possible Rate Cut

The company added that it will distribute a quarterly cash dividend of United States dollars 0.075 per share.

A number of other brokerages have also recently commented on SYMC. The stock increased 1.42% or $0.02 during the last trading session, reaching $1.59. Can lifted its holdings in shares of Symantec by 1.7% in the 1st quarter. Finally, Covington Investment Advisors Inc. bought a new position in shares of Symantec in the 1st quarter valued at about $5,350,000. Millennium Mgmt Ltd Llc accumulated 31,011 shares or 0% of the stock. Institutional investors and hedge funds own 95.28% of the company's stock.

Among 34 analysts covering Symantec (NASDAQ:SYMC), 7 have Buy rating, 3 Sell and 24 Hold. The company has Beta Value of 0.93 and ATR value of 0.64. The firm beat Wall Street estimates when it reported fourth quarter and full-year results Thursday.

Symantec's forecasts for profit per share and revenues lagged Wall Street analyst expectations. Symantec had a return on equity of 14.26% and a net margin of 22.24%.

India not prepared to play Adelaide Day/Night Test under lights
India and Bangladesh are the only two current Test-playing nations to have avoided playing pink-ball cricket at the global level. India and Bangladesh remain the only Test-playing nations not to have played a pink-ball Test.

For the first quarter of fiscal 2019, Symantec is guiding for adjusted revenues at Dollars 1.135-1.165 billion, and adjusted operating margin of 26-28 percent, and adjusted diluted EPS at USD 0.31-0.35. According to Yahoo Finance, the average revenue estimate of 28 analysts for fiscal 2019 is US$4.93bn and the average earnings estimate of 29 analysts is US$1.81 a share. Investors of record on Friday, June 8th will be issued a $0.075 dividend. The stock of Symantec Corporation (NASDAQ:SYMC) has "Buy" rating given on Friday, August 19 by Citigroup.

Currently, the analyst consensus on Symantec Corp is Moderate Buy and the average price target is $27.25, representing a -6.6% downside. Jefferies downgraded the stock to "Underperform" rating in Thursday, January 18 report.

The consensus recommendation, according to Zacks Investment research, is 2.8. More than a dozen analysts have already downgraded the stock to a sell rating, warning that the price could continue to plunge. $1.14M worth of stock was sold by TAYLOR SCOTT C on Monday, April 16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Suzanne M. Vautrinot sold 4,000 shares of the firm's stock in a transaction dated Friday, March 9th. The disclosure for this sale can be found here.

Symantec Corporation, together with its subsidiaries, provides cybersecurity solutions worldwide. It operates through two divisions, Consumer Digital Safety and Enterprise Security. The Consumer Digital Safety segment provides Norton-branded services that provide multi-layer security services across desktop and mobile operating systems, public Wi-Fi connections, and home networks to defend against online threats to individuals, families, and small businesses.

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