Gen Digital Inc. to Issue Quarterly Dividend of $0.13 (NASDAQ:GEN)

Gen Digital Inc. (NASDAQ:GEN) declared a quarterly dividend on Thursday, May 7th. Shareholders of record on Monday, May 18th will be paid a dividend of 0.125 per share on Wednesday, June 10th. This represents a c) annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, May 18th.

Gen Digital has decreased its dividend by an average of 0.5%per year over the last three years. Gen Digital has a dividend payout ratio of 17.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Gen Digital to earn $2.66 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 18.8%.

Gen Digital Stock Performance

Shares of GEN stock traded up $2.06 during midday trading on Friday, hitting $22.25. The company had a trading volume of 8,848,212 shares, compared to its average volume of 6,731,183. The company’s 50 day simple moving average is $20.15 and its 200 day simple moving average is $23.90. Gen Digital has a 52-week low of $17.78 and a 52-week high of $32.22. The stock has a market cap of $13.47 billion, a price-to-earnings ratio of 22.94 and a beta of 1.10. The company has a debt-to-equity ratio of 3.50, a current ratio of 0.47 and a quick ratio of 0.47.

Gen Digital (NASDAQ:GEN) last announced its earnings results on Thursday, February 5th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.01. Gen Digital had a return on equity of 56.76% and a net margin of 12.76%.The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the business posted $0.56 EPS. The company’s revenue was up 25.8% on a year-over-year basis. Research analysts anticipate that Gen Digital will post 2.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Gen Digital in a research note on Thursday, January 22nd. Wall Street Zen lowered shares of Gen Digital from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Barclays raised their target price on shares of Gen Digital from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday. Wells Fargo & Company began coverage on Gen Digital in a research note on Tuesday, March 3rd. They issued an “equal weight” rating and a $22.00 price target on the stock. Finally, Zacks Research raised Gen Digital from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 18th. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Gen Digital has an average rating of “Hold” and an average price target of $31.29.

Gen Digital Company Profile

Gen Digital (NASDAQ: GEN) is a global cybersecurity company specializing in consumer- and small-business-focused security, privacy, and identity protection solutions. The company offers a suite of products designed to safeguard devices, networks, and personal information against malware, ransomware, phishing attacks and other digital threats. With a focus on user-friendly interfaces and cross-platform compatibility, Gen Digital develops antivirus software, VPN services, parental controls, password management tools, and comprehensive identity-theft monitoring services.

Gen Digital traces its origins to the consumer software division of Symantec Corporation, which was spun off in late 2019 under the NortonLifeLock name.