NortonLifeLock Inc. (NASDAQ:NLOK) Receives Average Rating of “Buy” from Analysts

Shares of NortonLifeLock Inc. (NASDAQ:NLOKGet Rating) have received a consensus recommendation of “Buy” from the eight research firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $28.60.

A number of equities analysts have commented on the stock. Morgan Stanley cut shares of NortonLifeLock from an “overweight” rating to an “equal weight” rating and set a $28.00 price objective for the company. in a research note on Tuesday, March 29th. TheStreet raised shares of NortonLifeLock from a “c+” rating to a “b-” rating in a research note on Friday, February 18th. Finally, raised shares of NortonLifeLock from a “hold” rating to a “buy” rating in a research note on Thursday, March 24th.

NLOK opened at $24.70 on Monday. The stock has a market capitalization of $14.37 billion, a price-to-earnings ratio of 17.52 and a beta of 0.65. The company has a fifty day moving average of $26.98 and a 200 day moving average of $26.43. NortonLifeLock has a fifty-two week low of $20.88 and a fifty-two week high of $30.92.

NortonLifeLock (NASDAQ:NLOKGet Rating) last posted its earnings results on Thursday, May 5th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.01. The company had revenue of $716.00 million during the quarter, compared to analysts’ expectations of $709.62 million. NortonLifeLock had a net margin of 29.90% and a negative return on equity of 371.09%. NortonLifeLock’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the company posted $0.38 earnings per share. On average, analysts anticipate that NortonLifeLock will post 1.76 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 22nd. Investors of record on Wednesday, June 8th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Tuesday, June 7th. This represents a $0.50 annualized dividend and a yield of 2.02%. NortonLifeLock’s dividend payout ratio (DPR) is currently 35.46%.

In related news, CFO Natalie Marie Derse sold 966 shares of the stock in a transaction that occurred on Wednesday, February 16th. The stock was sold at an average price of $28.94, for a total value of $27,956.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.20% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Trust Co. of Vermont bought a new stake in NortonLifeLock during the 4th quarter valued at $28,000. Larson Financial Group LLC boosted its position in shares of NortonLifeLock by 86.0% in the 4th quarter. Larson Financial Group LLC now owns 1,198 shares of the company’s stock worth $31,000 after purchasing an additional 554 shares in the last quarter. Steward Financial Group LLC acquired a new stake in shares of NortonLifeLock in the 1st quarter worth $31,000. UMB Bank N A MO purchased a new position in NortonLifeLock in the 4th quarter worth $45,000. Finally, Desjardins Global Asset Management Inc. purchased a new position in NortonLifeLock in the 4th quarter worth $48,000. 94.59% of the stock is currently owned by institutional investors and hedge funds.

About NortonLifeLock (Get Rating)

NortonLifeLock Inc provides cyber safety solutions for consumers worldwide. The company offers Norton 360, an integrated platform provides extensive cyber safety coverage and a subscription service providing protection for PCs, Macs, and mobile devices against malware, viruses, adware, ransomware, and other online threats on various platforms; and LifeLock identity theft protection solution that offers monitoring, alerts, and restoration services to its customers.

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Analyst Recommendations for NortonLifeLock (NASDAQ:NLOK)

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