Gen Digital (NASDAQ:GEN) Price Target Raised to $30.00

Gen Digital (NASDAQ:GEN) had its price objective lifted by Royal Bank of Canada from $28.00 to $30.00 in a research report sent to investors on Wednesday, MarketBeat reports. They currently have a sector perform rating on the stock.

Separately, Morgan Stanley cut their price objective on Gen Digital from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $27.50.

Gen Digital Stock Up 1.8 %

Shares of GEN opened at $28.91 on Wednesday. Gen Digital has a 12 month low of $22.09 and a 12 month high of $31.72. The stock has a market cap of $17.82 billion, a price-to-earnings ratio of 28.34, a P/E/G ratio of 1.19 and a beta of 1.00. The company has a 50-day moving average price of $26.07 and a two-hundred day moving average price of $27.57. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 3.29.

Gen Digital (NASDAQ:GEN) last posted 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. Gen Digital had a net margin of 16.32% and a return on equity of 58.83%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $999.48 million. During the same quarter in the prior year, the firm earned $0.53 EPS. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. Equities analysts predict that Gen Digital will post 2.05 EPS for the current fiscal year.

Gen Digital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Investors of record on Monday, May 19th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Monday, May 19th. Gen Digital’s dividend payout ratio (DPR) is presently 49.02%.

Institutional Investors Weigh In On Gen Digital

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ontario Teachers Pension Plan Board boosted its holdings in Gen Digital by 4.9% in the first quarter. Ontario Teachers Pension Plan Board now owns 54,568 shares of the company’s stock valued at $1,448,000 after acquiring an additional 2,571 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new stake in shares of Gen Digital during the 1st quarter worth approximately $233,000. Charles Schwab Investment Management Inc. grew its position in shares of Gen Digital by 1.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,370,678 shares of the company’s stock worth $89,458,000 after buying an additional 32,870 shares during the period. ASR Vermogensbeheer N.V. acquired a new position in Gen Digital in the first quarter valued at approximately $2,847,000. Finally, Vanguard Group Inc. boosted 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 acquiring an additional 2,513,464 shares during the last quarter. 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.