In the last trading session, 5.76 million shares of the Gen Digital Inc. (NASDAQ:GEN) were traded, and its beta was 0.81. Most recently the company’s share price was $16.96, and it changed around -$0.1 or -0.59% from the last close, which brings the market valuation of the company to $10.79B. GEN currently trades at a discount to its 52-week high of $26.83, offering almost -58.2% off that amount. The share price’s 52-week low was $15.45, which indicates that the current value has risen by an impressive 8.9% since then. We note from Gen Digital Inc.’s average daily trading volume that its 10-day average is 6.25 million shares, with the 3-month average coming to 4.81 million.
Gen Digital Inc. (NASDAQ:GEN) trade information
Instantly GEN has showed a red trend with a performance of -0.59% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 17.19 on Tuesday, 05/23/23 increased the stock’s daily price by 1.34%. The company’s shares are currently down -20.86% year-to-date, but still up 9.70% over the last five days. On the other hand, Gen Digital Inc. (NASDAQ:GEN) is -3.31% up in the 30-day period. We can see from the shorts that 13.99 million shares have been sold at a short interest cover period of 3.98 day(s).
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Gen Digital Inc. (GEN) estimates and forecasts
Gen Digital Inc. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -25.02 percent over the past six months and at a 7.18% annual growth rate that is well below the industry average of 17.90%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 2.20% in revenue this quarter, and will report an increase of 6.70% in the next quarter. The year-over-year growth rate is expected to be 15.50%, up from the previous year.
Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $945.37 million in revenue for the current quarter. 3 analysts expect Gen Digital Inc. to make $961.17 million in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $708 million and $700 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 33.50%. Forecasts for the next quarter put sales growth at 37.30%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 41.70%. Gen Digital Inc. earnings are expected to increase by 21.90% in 2023, but the outlook is positive 13.90% per year for the next five years.
Gen Digital Inc.’s next quarterly earnings report is expected to be released on May 11. The annual dividend yield of the stock is 2.95 percent and its annual dividend per share was 0.50. It is important to note, however, that the 2.95% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
Gen Digital Inc. (NASDAQ:GEN)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 8.67% of Gen Digital Inc. shares, and 86.10% of them are in the hands of institutional investors. The stock currently has a share float of 94.27%. Gen Digital Inc. stock is held by 893 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2023, it held 10.63% of the shares, which is about 67.93 million shares worth $1.17 billion.
Blackrock Inc., with 9.66% or 61.73 million shares worth $1.06 billion as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund were the top two Mutual Funds as of Dec 30, 2022. The former held 16.82 million shares worth $360.54 million, making up 2.63% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 13.4 million shares worth around $287.19 million, which represents about 2.10% of the total shares outstanding.