In the latest trading session, 3.01 million Gen Digital Inc (NASDAQ:GEN) shares changed hands as the company’s beta touched 0.87. With the company’s most recent per share price at $21.09 changing hands around $0.3 or 1.45% at last look, the market valuation stands at $13.51B. GEN’s current price is a discount, trading about -13.42% off its 52-week high of $23.92. The share price had its 52-week low at $15.45, which suggests the last value was 26.74% up since then. When we look at Gen Digital Inc’s average trading volume, we note the 10-day average is 5.64 million shares, with the 3-month average coming to 3.69 million.
Analysts gave the Gen Digital Inc (GEN) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.75. If we narrow down to specifics, the data shows that 0 out of 8 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 2 recommended GEN as a Hold, 4 felt it is a Buy and 0 rated the stock as Underweight. Gen Digital Inc’s EPS for the current quarter is expected to be $General Motors Company.
Gen Digital Inc (NASDAQ:GEN) trade information
Instantly GEN is in green as seen in intraday trades today. With action 7.39%, the performance over the past five days has been green. The jump to weekly highs of 21.76 on Monday, 11/20/23 added 1.45% to the stock’s daily price. The company’s shares are showing year-to-date downside of -1.58%, with the 5-day performance at 7.39% in the green. However, in the 30-day time frame, Gen Digital Inc (NASDAQ:GEN) is 24.95% up. Looking at the short shares, we see there were 11.82 million shares sold at short interest cover period of 3.9 days.
The consensus price target for the stock as assigned by Wall Street analysts is $25.40, meaning bulls need an upside of 16.97% from its recent market value. According to analyst projections, GEN’s forecast low is $22.00 with $27.00 as the target high. To hit the forecast high, the stock’s price needs a -28.02% plunge from its current level, while the stock would need to soar -4.31% for it to hit the projected low.
Gen Digital Inc (GEN) estimates and forecasts
Data shows that the Gen Digital Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 24.36% over the past 6 months, a 9.39% in annual growth rate that is considerably lower than the industry average of 12.20%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 4.88%. The 2023 estimates are for Gen Digital Inc earnings to increase by 8.95%, but the outlook for the next 5-year period is at 12.55% per year.
Gen Digital Inc is expected to release its next quarterly earnings report between January 31 and February 05. The 2.42% annual yield figure for the share gives it an annual dividend of 0.51. It is important to note, however, that the 2.42% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Gen Digital Inc (NASDAQ:GEN)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 8.86% of Gen Digital Inc shares while 85.93% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 94.28%. There are 85.93% institutions holding the Gen Digital Inc stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 10.70% of the shares, roughly 68.43 million GEN shares worth $1.27 billion.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 9.81% or 62.71 million shares worth $1.16 billion as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 16.93 million shares estimated at $314.07 million under it, the former controlled 2.65% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 2.12% of the shares, roughly 13.55 million shares worth around $251.3 million.