Gen Digital (NASDAQ:GEN) Shares Gap Down Following Weak Earnings

Gen Digital Inc. (NASDAQ:GEN) shares gapped down prior to trading on Friday following a weaker than expected earnings announcement. The stock had previously closed at $27.89, but opened at $26.61. Gen Digital shares last traded at $26.93, with a volume of 664,158 shares trading hands.

The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). Gen Digital had a net margin of 16.08% and a return on equity of 55.47%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GEN. UBS Group upgraded shares of Gen Digital to a “strong-buy” rating in a report on Wednesday, December 4th. Wells Fargo & Company upgraded shares of Gen Digital to a “strong-buy” rating in a research note on Thursday, October 24th.

Gen Digital Stock Performance

The stock has a market capitalization of $16.58 billion, a P/E ratio of 27.46, a P/E/G ratio of 1.29 and a beta of 0.82. The stock has a 50 day simple moving average of $28.57 and a two-hundred day simple moving average of $27.41. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 3.40.

About Gen Digital

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.