Gen Digital Inc. (NASDAQ:GEN) Receives $27.50 Consensus PT from Analysts

Gen Digital Inc. (NASDAQ:GEN) has been assigned an average rating of “Buy” from the five research firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $30.00.

Several equities research analysts have issued reports on GEN shares. Royal Bank Of Canada boosted their price objective on shares of Gen Digital from $28.00 to $30.00 and gave the stock a “sector perform” rating in a research note on Wednesday, May 7th. Wall Street Zen raised Gen Digital from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 27th. Morgan Stanley reduced their price target on shares of Gen Digital from $27.00 to $25.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Finally, Evercore ISI started coverage on Gen Digital in a report on Tuesday. They set an “outperform” rating and a $35.00 price target on the stock.

Gen Digital Stock Performance

NASDAQ:GEN opened at $30.48 on Tuesday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 3.51. The firm has a 50-day moving average price of $28.42 and a two-hundred day moving average price of $27.41. The company has a market capitalization of $18.90 billion, a P/E ratio of 29.31, a price-to-earnings-growth ratio of 1.11 and a beta of 1.01. Gen Digital has a twelve month low of $22.74 and a twelve month high of $31.72.

Gen Digital (NASDAQ:GEN) last released its earnings results on Tuesday, May 6th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.01. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $999.48 million. Gen Digital had a return on equity of 59.38% and a net margin of 16.34%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 earnings per share. As a group, research analysts expect that Gen Digital will post 2.05 earnings per share for the current fiscal year.

Gen Digital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.64%. Gen Digital’s dividend payout ratio is currently 48.08%.

Insider Activity at Gen Digital

In other news, Director Nora Denzel sold 31,646 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $28.76, for a total value of $910,138.96. Following the completion of the sale, the director directly owned 34,860 shares of the company’s stock, valued at $1,002,573.60. This represents a 47.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Nuveen LLC bought a new position in shares of Gen Digital in the first quarter valued at approximately $299,562,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Gen Digital by 43.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,270,615 shares of the company’s stock valued at $325,662,000 after buying an additional 3,724,211 shares during the last quarter. Boston Partners increased its holdings in shares of Gen Digital by 37.3% in the first quarter. Boston Partners now owns 13,358,167 shares of the company’s stock valued at $354,456,000 after purchasing an additional 3,631,052 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Gen Digital during the 1st quarter worth approximately $71,287,000. Finally, Vanguard Group Inc. lifted its stake in Gen Digital by 3.7% in the first quarter. Vanguard Group Inc. now owns 69,690,768 shares of the company’s stock valued at $1,849,593,000 after buying an additional 2,513,464 shares during the period. 81.38% of the stock is owned by institutional investors and hedge funds.

Gen Digital Company Profile

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.