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FY2023 Earnings Estimate for NortonLifeLock Inc. Issued By Zacks Research (NASDAQ:NLOK)

Defense World · Oct 1, 2022 02:01

NortonLifeLock Inc. (NASDAQ:NLOK – Get Rating) – Analysts at Zacks Research raised their FY2023 earnings per share estimates for shares of NortonLifeLock in a research note issued on Wednesday, September 28th. Zacks Research analyst A. Bhagat now anticipates that the company will earn $1.70 per share for the year, up from their previous estimate of $1.69. The consensus estimate for NortonLifeLock's current full-year earnings is $1.69 per share. Zacks Research also issued estimates for NortonLifeLock's Q1 2025 earnings at $0.46 EPS and FY2025 earnings at $1.88 EPS.

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NortonLifeLock (NASDAQ:NLOK – Get Rating) last announced its earnings results on Thursday, August 4th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.02. NortonLifeLock had a negative return on equity of 565.66% and a net margin of 30.35%. The firm had revenue of $708.00 million during the quarter, compared to analyst estimates of $711.32 million.

Several other research firms also recently weighed in on NLOK. TheStreet downgraded NortonLifeLock from a "b-" rating to a "c+" rating in a research note on Tuesday, July 5th. StockNews.com downgraded NortonLifeLock from a "buy" rating to a "hold" rating in a research note on Tuesday. Finally, Barclays cut their price target on NortonLifeLock to $28.00 in a research note on Tuesday, August 9th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $27.40.

NortonLifeLock Stock Down 1.1 %

NortonLifeLock stock opened at $20.14 on Friday. The company has a market capitalization of $11.51 billion, a P/E ratio of 14.08 and a beta of 0.71. The stock's 50 day moving average is $23.01 and its 200 day moving average is $24.15. NortonLifeLock has a twelve month low of $20.12 and a twelve month high of $30.92.

NortonLifeLock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 14th. Shareholders of record on Monday, August 22nd were paid a dividend of $0.125 per share. The ex-dividend date was Friday, August 19th. This represents a $0.50 annualized dividend and a yield of 2.48%. NortonLifeLock's dividend payout ratio is 34.97%.

Insider Buying and Selling at NortonLifeLock

In other NortonLifeLock news, President Ondrej Vlcek bought 456,475 shares of the business's stock in a transaction on Thursday, September 15th. The shares were acquired at an average cost of $21.91 per share, for a total transaction of $10,001,367.25. Following the purchase, the president now owns 3,453,198 shares in the company, valued at approximately $75,659,568.18. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 3.30% of the company's stock.

Hedge Funds Weigh In On NortonLifeLock

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wealthfront Advisers LLC lifted its holdings in shares of NortonLifeLock by 0.3% during the 1st quarter. Wealthfront Advisers LLC now owns 140,080 shares of the company's stock valued at $3,715,000 after buying an additional 428 shares during the period. Allworth Financial LP lifted its holdings in shares of NortonLifeLock by 28.8% during the 1st quarter. Allworth Financial LP now owns 1,944 shares of the company's stock valued at $52,000 after buying an additional 435 shares during the period. Sentry Investment Management LLC lifted its holdings in shares of NortonLifeLock by 10.4% during the 1st quarter. Sentry Investment Management LLC now owns 4,662 shares of the company's stock valued at $124,000 after buying an additional 438 shares during the period. Deseret Mutual Benefit Administrators lifted its holdings in shares of NortonLifeLock by 2.4% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 18,412 shares of the company's stock valued at $404,000 after buying an additional 440 shares during the period. Finally, Arizona State Retirement System raised its holdings in NortonLifeLock by 0.3% in the 2nd quarter. Arizona State Retirement System now owns 162,393 shares of the company's stock worth $3,566,000 after purchasing an additional 452 shares during the period. 94.86% of the stock is owned by institutional investors.

NortonLifeLock Company Profile

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NortonLifeLock Inc provides cyber safety solutions for consumers in the United States, Canada, Latin America, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It 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 Norton and LifeLock identity theft protection solution that offers monitoring, alerts, and restoration services to its customers.