Gen Digital (NASDAQ:GEN) Sets New 12-Month High After Dividend Announcement

Shares of Gen Digital Inc. (NASDAQ:GEN) reached a new 52-week high on Thursday following a dividend announcement from the company. The company traded as high as $29.36 and last traded at $29.22, with a volume of 194125 shares traded. The stock had previously closed at $26.91.

The newly announced dividend which will be paid on Wednesday, December 11th. Shareholders of record on Monday, November 18th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $0.50 dividend on an annualized basis and a yield of 1.77%. Gen Digital’s payout ratio is 51.02%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company raised Gen Digital to a “strong-buy” rating in a research report on Thursday, October 24th.

Gen Digital Price Performance

The company’s fifty day moving average price is $26.94 and its two-hundred day moving average price is $25.02. The company has a quick ratio of 0.30, a current ratio of 0.32 and a debt-to-equity ratio of 3.40. The company has a market cap of $17.40 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 1.36 and a beta of 0.80.

Gen Digital (NASDAQ:GEN) last announced its earnings results on Thursday, August 1st. The company reported $0.49 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.49. The firm had revenue of $965.00 million during the quarter, compared to analyst estimates of $960.41 million. Gen Digital had a net margin of 16.08% and a return on equity of 55.47%. On average, equities research analysts forecast that Gen Digital Inc. will post 2.04 EPS for the current fiscal year.

About Gen Digital

Gen Digital Inc engages in the provision of cyber safety solutions for consumers in the United States, Canada, Latin America, Europe, the Middle East, Africa, the Asia Pacific, and Japan. The company offers security and performance products under Norton, Avast, Avira, AVG, and CCleaner brands that provide real-time protection and maintenance for PCs, Macs, and mobile devices against malware, viruses, adware, and other online threats.