NortonLifeLock (NASDAQ:NLOK) Releases FY 2022 Earnings Guidance

NortonLifeLock (NASDAQ:NLOK) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.700-$1.700 for the period, compared to the Thomson Reuters consensus estimate of $1.710. The company issued revenue guidance of -.NortonLifeLock also updated its Q3 2022 guidance to $0.420-$0.440 EPS.

NASDAQ:NLOK traded up $0.45 on Thursday, reaching $25.20. 3,317,523 shares of the company’s stock were exchanged, compared to its average volume of 4,940,379. The firm has a market cap of $14.66 billion, a price-to-earnings ratio of 16.80 and a beta of 0.72. NortonLifeLock has a 52 week low of $17.98 and a 52 week high of $28.92. The stock has a fifty day simple moving average of $25.44 and a 200-day simple moving average of $26.17.

NortonLifeLock (NASDAQ:NLOK) last issued its earnings results on Thursday, November 4th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. The firm had revenue of $692.00 million during the quarter, compared to analyst estimates of $695.27 million. NortonLifeLock had a net margin of 32.95% and a negative return on equity of 216.09%. The company’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the business earned $0.33 earnings per share. On average, equities analysts predict that NortonLifeLock will post 1.7 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 15th. Shareholders of record on Monday, November 22nd will be given a dividend of $0.125 per share. The ex-dividend date is Friday, November 19th. This represents a $0.50 dividend on an annualized basis and a yield of 1.98%. NortonLifeLock’s dividend payout ratio is presently 33.33%.

A number of brokerages have recently issued reports on NLOK. Royal Bank of Canada increased their price target on shares of NortonLifeLock from $26.00 to $27.00 and gave the stock a sector perform rating in a report on Friday, November 5th. Mizuho reissued a buy rating and issued a $26.00 price target on shares of NortonLifeLock in a report on Friday, November 5th. Finally, HSBC downgraded shares of NortonLifeLock from a buy rating to a hold rating in a report on Wednesday, August 11th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NortonLifeLock presently has a consensus rating of Buy and a consensus target price of $27.83.

An institutional investor recently raised its position in NortonLifeLock stock. Morgan Stanley boosted its stake in NortonLifeLock Inc. (NASDAQ:NLOK) by 11.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,980,066 shares of the company’s stock after purchasing an additional 199,389 shares during the quarter. Morgan Stanley owned about 0.34% of NortonLifeLock worth $53,897,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 90.96% of the stock is currently owned by institutional investors.

NortonLifeLock Company Profile

NortonLifeLock, Inc engages in the provision of security, storage, and systems management solutions. The firm focuses on providing consumer cyber safety with its business solutions. The company was founded by Gary Hendrix in April 1982 and is headquartered in Tempe, AZ.

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