Gen Digital Inc. (NASDAQ: GEN) stock fell -0.71% on Wednesday to $16.84 against a previous-day closing price of $16.96. With 4.6 million shares changed hands, the volume of the stock remained lighter than its average volume of 4.86 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $16.99 whereas the lowest price it dropped to was $16.69. The 52-week range on GEN shows that it touched its highest point at $26.83 and its lowest point at $15.45 during that stretch. It currently has a 1-year price target of $23.82. With its current market cap of 10.71 billion, GEN has annualized dividend of $0.50 while the current yield stands at 2.97%. Beta for the stock currently stands at 0.81.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GEN was up-trending over the past week, with a rise of 4.99%, but this was down by -3.00% over a month. Three-month performance dropped to -18.21% while six-month performance fell -26.94%. The stock lost -31.68% in the past year, while it has lost -21.42% so far this year. A look at the trailing 12-month EPS for GEN yields 2.12 with Next year EPS estimates of 2.41. For the next quarter, that number is 0.46. This implies an EPS growth rate of 21.90% for this year and 20.11% for next year. EPS is expected to grow by 13.90% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 41.70%.
Float and Shares Shorts:
At present, 647.00 million GEN shares are outstanding with a float of 610.17 million shares on hand for trading. On Apr 27, 2023, short shares totaled 13.99 million, which was 2.19% higher than short shares on Mar 30, 2023. In addition to Mr. Vincent Pilette as the firm’s CEO & Director, Ms. Natalie Marie Derse serves as its EVP, CFO & Principal Accounting Officer.
Through their ownership of 86.10% of GEN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 51.66% of GEN, in contrast to 33.30% held by mutual funds. Shares owned by individuals account for 12.15%. As the largest shareholder in GEN with 10.26% of the stake, The Vanguard Group, Inc. holds 65,549,867 shares worth 65,549,867. A second-largest stockholder of GEN, BlackRock Fund Advisors, holds 44,050,251 shares, controlling over 6.89% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in GEN, holding 29,469,773 shares or 4.61% stake. With a 2.65% stake in GEN, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 16,906,910 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 2.09% of GEN stock, is the second-largest Mutual Fund holder. It holds 13,350,955 shares valued at 235.91 million. Vanguard Mid Cap Index Fund holds 1.98% of the stake in GEN, owning 12,683,046 shares worth 224.11 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, GEN reported revenue of $707.00M and operating income of $263.00M. The EBITDA in the recently reported quarter was $291.00M and diluted EPS was $0.33.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GEN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With GEN analysts setting a high price target of $27.00 and a low target of $21.00, the average target price over the next 12 months is $23.25. Based on these targets, GEN could surge 60.33% to reach the target high and rise by 24.7% to reach the target low. Reaching the average price target will result in a growth of 38.06% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded GEN stock several times over the past three months with 0 Buys and 3 Sells. In these transactions, 0 shares were bought while 74,241 shares were sold. The number of buy transactions has increased to 31 while that of sell transactions has risen to 9 over the past year. The total number of shares bought during that period was 3,283,435 while 425,839 shares were sold.