Gen Digital (NASDAQ:GEN) Shares Gap Down on Disappointing Earnings

Shares of Gen Digital Inc. (NASDAQ:GEN) gapped down before the market opened 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 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%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GEN shares. UBS Group upgraded 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 report on Thursday, October 24th.

Gen Digital Stock Down 3.5 %

The company has a debt-to-equity ratio of 3.40, a quick ratio of 0.32 and a current ratio of 0.32. The company’s fifty day moving average price is $28.50 and its 200-day moving average price is $27.42. The stock has a market cap of $16.58 billion, a P/E ratio of 27.46, a price-to-earnings-growth ratio of 1.29 and a beta of 0.82.

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.