• News
  • Money

Symantec shares fall by 20% after internal probe announced

Symantec shares fall by 20% after internal probe announced

On Thursday, February 1 Morgan Stanley maintained the shares of SYMC in report with "Equal-Weight" rating. UBS lowered Symantec from an "outperform" rating to a "market perform" rating in a research note on Friday. Currently, the stock has a 1 Year Price Target of $29.94.

In total 12 analysts cover Symantec (NASDAQ:SYMC). More than a dozen analysts have already downgraded the stock to a sell rating, warning that the price could continue to plunge. Baird reiterated a "hold" rating and issued a $25.00 price target on shares of Symantec in a research note on Friday.

The company, which is valued at $18.19B, last published its earnings results on Wednesday, 01/31/2018 for the quarter that ended in Dec-17.

The High Revenue estimate is predicted as 1.28 Million, while the Low Revenue Estimate prediction stands at 1.18 Million.

On its post-earnings call Symantec canceled its customary question and answer session with analysts.

Notably, the stock has underperformed the industry in a year's time. Keeping tabs on historical price performance, as well as both long-term and short-term trends, can be very useful. More interesting news about Symantec Corporation (NASDAQ:SYMC) were released by: Nasdaq.com and their article: "Symantec Corporation Stock Plummets On Weak Y2019 Guidance" published on May 11, 2018 as well as Streetinsider.com's news article titled: "S&P, Dow edge higher on healthcare gains, tech drags" with publication date: May 11, 2018. Orbis Investment Management (U.S.) Llc owns 433,598 shares or 8.26% of their USA portfolio. Turning to look at the last 6 months, this stock has added 1.74% to its price.

Now let's examine some potential support and resistance levels for this particular stock.

As trading progressed Friday, Symantec's shares had fallen to $19.50 after closing Thursday at $29.18. Moreover, non-GAAP operating margin was above the high end of the company's guided range of 33-34%.

Regular shareholders want to find out how lucrative the capital that they've invested into a business has become. On Wednesday, September 6 the stock rating was initiated by Moffett Nathanson with "Hold". This company's ROA is now 6.40%. Return on Equity (ROE) stands at 27.4% and Return on Investment (ROI) of -0.6 percent. A percentage that's positive means that profits exceed costs - so analysts consider the investment as a net gain.

"The internal probe. could result in a restatement of financials but worse case, there is also the risk of leadership fall-out and/or customer hesitation if there are credibility concerns", Deutsche Bank analysts said. The Weekly and Monthly Volatility stands at 2.16% and 2.14%. The company has Beta Value of 0.93 and ATR value of 0.64. Volatility demonstrates how much the stock will dive or rise if the wider market suffers or surges. Institutional investors and hedge funds own 95.28% of the company's stock. Bp Pcl has invested 0.07% of its capital in Symantec Corporation (NASDAQ:SYMC).

Leave Your Comment

Leave Your Comment

Latest News

Breaking News


Elon Musk Says LA Test Tunnel Nearly Done

Citizens of Los Angeles should soon be able to check out the new tunnel that's being bored by Elon Musk's Boring Company-for free. Musk has said that the demo system rides will be free, with the full service tickets costing less than a bus ticket.

Ramos Misses Penalty As Sevilla Edge Out Ronaldo-less Madrid

"I'm not anxious about him for the Champions League final", Zidane said after his side's draw against Barcelona. As far as Ronaldo and Neymar co-existing, Zidane doesn't see any issue arising.

SpaceX successfully launches rocket one day after failed attempt

That's more than half of the estimated overall $62 million price of the Falcon 9, according to various trade publications. While the Block 5 rocket launch did not carry a crew, a crew-carrying version could launch as early as this year.

Rooney's future uncertain at Everton - Allardyce

Sam Allardyce expects Wayne Rooney to provide clarity on his future when the pair hold a face-to-face meeting on Friday. I don't get involved in anything regarding transfers in or out or negotiations.

World Health Organization ready to deploy Ebola vaccines to DRC

There have been several recorded outbreaks of Ebola since its discovery in the early 1970s - all but one have been small . Centers for Disease Control and Prevention who has responded to most known Ebola outbreaks.

Attorney: Man charged, released after being choked by Warsaw police officer

After that incident, Starbucks plans to shut down its stores for a day later this month to train employees on racial bias. The name of the man in the video and the police officer have not yet been released .

Khloe Kardashian returns to working out after baby

However, it generally seemed to have passed when Khloe attended a Cavs playoff game last weekend in support of her fiancee. Kylie [ Jenner ]'s like, 'I'll do it!' and Kourtney [ Kardashian ] is like, 'I'll do it!' It's a good problem to have"'.

Leave.EU fined £70000 over Brexit spending

Vote Leave, official Brexit campaign, is also being investigated for a possible breach of spending limits. Did the Electoral Commission find any links between Leave.EU and the activities of Cambridge Analytica?

ISRAEL ON EDGE: Protesters Gather at Israel-Gaza Border

Yehiyeh Sinwar said the crowds will be unarmed, peaceful but "like a starving tiger" in pent-up anger and unpredictability. The Israeli and Egyptian governments enacted the blockade in 2007 after Islamic militant organizations overran the region.

Electronic Arts reports FY18 financial results

This continues to be an interesting story, and we look forward to updating it again soon on Electronic Arts Inc . Osborne Partners Capital Mgmt Limited Liability Company holds 0.39% of its capital in Electronic Arts Inc .