Symantec Corporation to Issue Quarterly Dividend of $0.08 (SYMC)

Symantec Corporation (NASDAQ:SYMC) announced a quarterly dividend on Wednesday, January 31st, RTT News reports. Shareholders of record on Tuesday, February 20th will be given a dividend of 0.075 per share by the technology company on Wednesday, March 14th. This represents a $0.30 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Friday, February 16th.

Shares of Symantec (NASDAQ:SYMC) traded up $0.44 during midday trading on Thursday, hitting $27.02. 6,464,200 shares of the stock were exchanged, compared to its average volume of 7,613,695. The firm has a market capitalization of $16,520.50, a PE ratio of 17.55, a P/E/G ratio of 3.04 and a beta of 0.89. Symantec has a 52-week low of $24.94 and a 52-week high of $34.20. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.15 and a quick ratio of 1.15.

Symantec (NASDAQ:SYMC) last released its quarterly earnings results on Wednesday, January 31st. The technology company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.05. Symantec had a net margin of 22.24% and a return on equity of 14.26%. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the company earned $0.32 earnings per share. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. research analysts forecast that Symantec will post 0.99 EPS for the current year.

In other Symantec news, EVP Francis C. Rosch sold 57,103 shares of the stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $27.42, for a total transaction of $1,565,764.26. Following the completion of the sale, the executive vice president now owns 325,026 shares of the company’s stock, valued at approximately $8,912,212.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.30% of the company’s stock.

A number of research analysts have weighed in on the stock. BidaskClub cut shares of Symantec from a “hold” rating to a “sell” rating in a research note on Tuesday, December 19th. Zacks Investment Research raised shares of Symantec from a “sell” rating to a “hold” rating in a research report on Tuesday, January 2nd. Deutsche Bank assumed coverage on shares of Symantec in a research report on Tuesday, December 19th. They issued a “hold” rating and a $30.00 price target on the stock. Morgan Stanley lowered their price target on shares of Symantec from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Friday, November 3rd. Finally, Evercore ISI reaffirmed a “hold” rating and set a $25.00 target price on shares of Symantec in a report on Thursday, November 2nd. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the stock. Symantec currently has an average rating of “Hold” and a consensus target price of $30.92.

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Symantec Company Profile

Symantec Corporation is a United States-based cyber security company. The Company offers products under categories, such as threat protection, information protection and cyber security services. Under threat protection, it offers Advanced Threat Protection, Endpoint Protection, Endpoint Protection Cloud, IT Management Suite, Email Security, Cloud, Data Center Security and Cloud Workload Protection products.

Dividend History for Symantec (NASDAQ:SYMC)

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