Gen Digital Inc. (NASDAQ:GEN) Receives $27.50 Consensus Price Target from Brokerages

Shares of Gen Digital Inc. (NASDAQ:GEN) have received a consensus rating of “Buy” from the five brokerages that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $30.00.

A number of research firms have commented on GEN. Wall Street Zen downgraded shares of Gen Digital from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Evercore ISI began coverage on shares of Gen Digital in a research report on Tuesday, July 1st. They set an “outperform” rating and a $35.00 target price on the stock. Morgan Stanley cut their target price on shares of Gen Digital from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Finally, Royal Bank Of Canada raised their target price on shares of Gen Digital from $28.00 to $30.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 7th.

Gen Digital Trading Up 2.2%

GEN stock opened at $30.48 on Tuesday. The company has a market capitalization of $18.90 billion, a PE ratio of 29.31, a P/E/G ratio of 1.14 and a beta of 1.01. Gen Digital has a 12 month low of $22.74 and a 12 month high of $31.72. The firm’s 50-day moving average is $28.53 and its 200 day moving average is $27.42. The company has a debt-to-equity ratio of 3.51, a current ratio of 0.51 and a quick ratio of 0.51.

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

Gen Digital Dividend Announcement

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 $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Monday, May 19th. Gen Digital’s dividend payout ratio is currently 48.08%.

Insider Buying and Selling at Gen Digital

In other news, Director Nora Denzel sold 31,646 shares of the firm’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $28.76, for a total value of $910,138.96. Following the sale, the director directly owned 34,860 shares in the company, valued at approximately $1,002,573.60. This trade represents a 47.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 12.20% of the company’s stock.

Institutional Trading of Gen Digital

Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in Gen Digital by 98.8% in the 4th quarter. Wellington Management Group LLP now owns 114,699 shares of the company’s stock worth $3,140,000 after purchasing an additional 56,993 shares in the last quarter. Cornerstone Wealth Group LLC acquired a new stake in Gen Digital in the 1st quarter worth approximately $377,000. Exchange Traded Concepts LLC boosted its stake in Gen Digital by 52.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 11,146 shares of the company’s stock worth $296,000 after purchasing an additional 3,830 shares in the last quarter. Merit Financial Group LLC acquired a new stake in Gen Digital in the 1st quarter worth approximately $273,000. Finally, Kendall Capital Management boosted its stake in Gen Digital by 20.0% in the 1st quarter. Kendall Capital Management now owns 60,640 shares of the company’s stock worth $1,609,000 after purchasing an additional 10,105 shares in the last quarter. 81.38% of the stock is currently owned by institutional investors.

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.