NortonLifeLock (NASDAQ:NLOK) Releases Q1 2023 Earnings Guidance

NortonLifeLock (NASDAQ:NLOKGet Rating) issued an update on its first quarter 2023 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.42-$0.44 for the period, compared to the consensus estimate of $0.46. The company issued revenue guidance of $705.00 million-$715.00 million, compared to the consensus revenue estimate of $728.47 million.

NLOK traded up $0.16 during midday trading on Monday, hitting $24.11. 263,930 shares of the company traded hands, compared to its average volume of 5,444,668. The company has a market capitalization of $14.03 billion, a price-to-earnings ratio of 17.21 and a beta of 0.65. NortonLifeLock has a 52-week low of $23.47 and a 52-week high of $30.92. The business has a 50 day simple moving average of $26.48 and a two-hundred day simple moving average of $26.36.

NortonLifeLock (NASDAQ:NLOKGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.01. The firm had revenue of $716.00 million for the quarter, compared to the consensus estimate of $709.62 million. NortonLifeLock had a net margin of 29.90% and a negative return on equity of 444.77%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the firm posted $0.38 earnings per share. Equities analysts expect that NortonLifeLock will post 1.76 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 22nd. Stockholders of record on Wednesday, June 8th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Tuesday, June 7th. NortonLifeLock’s dividend payout ratio is currently 35.46%.

Several research firms recently issued reports on NLOK. Robert W. Baird cut their price objective on shares of NortonLifeLock from $31.00 to $28.00 in a research report on Monday, May 9th. TheStreet upgraded shares of NortonLifeLock from a c+ rating to a b- rating in a research report on Friday, February 18th. 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 report on Tuesday, March 29th. Finally, StockNews.com cut shares of NortonLifeLock from a buy rating to a hold rating in a research report on Monday, May 9th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NortonLifeLock has an average rating of Hold and a consensus price target of $28.20.

In other NortonLifeLock news, CFO Natalie Marie Derse sold 966 shares of NortonLifeLock stock in a transaction dated Wednesday, February 16th. The shares were sold at an average price of $28.94, for a total transaction of $27,956.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.20% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of NLOK. Morgan Stanley boosted its stake in shares of NortonLifeLock by 11.2% in the second quarter. Morgan Stanley now owns 1,980,066 shares of the company’s stock valued at $53,897,000 after purchasing an additional 199,389 shares during the period. GAM Holding AG lifted its stake in NortonLifeLock by 1,559.6% in the fourth quarter. GAM Holding AG now owns 796,053 shares of the company’s stock worth $20,447,000 after acquiring an additional 748,086 shares during the last quarter. LPL Financial LLC lifted its stake in NortonLifeLock by 39.0% in the fourth quarter. LPL Financial LLC now owns 93,175 shares of the company’s stock worth $2,421,000 after acquiring an additional 26,135 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in NortonLifeLock by 262.8% in the fourth quarter. Advisors Asset Management Inc. now owns 14,813 shares of the company’s stock worth $385,000 after acquiring an additional 10,730 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY lifted its stake in NortonLifeLock by 9.1% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 72,638 shares of the company’s stock worth $1,887,000 after acquiring an additional 6,069 shares during the last quarter. 94.59% of the stock is owned by institutional investors and hedge funds.

NortonLifeLock Company Profile (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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