NortonLifeLock (NASDAQ:NLOK) Issues Q1 2022 Earnings Guidance

NortonLifeLock (NASDAQ:NLOK) updated its first quarter 2022 earnings guidance on Tuesday. The company provided EPS guidance of $0.400-0.420 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.390. The company issued revenue guidance of $680 million-690 million, compared to the consensus revenue estimate of $659.06 million.

Several equities research analysts have issued reports on the company. Morgan Stanley lifted their price objective on NortonLifeLock from $26.00 to $28.00 and gave the stock an overweight rating in a report on Wednesday, May 12th. Bank of America upgraded NortonLifeLock from an underperform rating to a buy rating and set a $30.00 price target for the company in a report on Wednesday, May 12th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $26.14.

Shares of NASDAQ NLOK traded down $0.10 during trading on Friday, reaching $28.57. The stock had a trading volume of 77,016 shares, compared to its average volume of 5,688,705. NortonLifeLock has a one year low of $17.98 and a one year high of $28.92. The firm has a market capitalization of $16.57 billion, a PE ratio of 30.68, a PEG ratio of 2.51 and a beta of 0.68. The stock has a 50 day simple moving average of $24.23.

NortonLifeLock (NASDAQ:NLOK) last released its quarterly earnings data on Monday, May 10th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.02. NortonLifeLock had a negative return on equity of 161.81% and a net margin of 21.72%. The business had revenue of $672.00 million during the quarter, compared to analyst estimates of $659.06 million. During the same quarter in the previous year, the firm posted $0.26 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, research analysts forecast that NortonLifeLock will post 1.62 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 23rd. Investors of record on Wednesday, June 9th will be given a dividend of $0.125 per share. The ex-dividend date is Tuesday, June 8th. This represents a $0.50 dividend on an annualized basis and a yield of 1.75%. NortonLifeLock’s dividend payout ratio is currently 37.59%.

In related news, Director Peter A. Feld sold 416,877 shares of the business’s stock in a transaction that occurred on Tuesday, May 18th. The stock was sold at an average price of $26.48, for a total transaction of $11,038,902.96. Following the completion of the transaction, the director now owns 52,226 shares in the company, valued at approximately $1,382,944.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.25% of the company’s stock.

About NortonLifeLock

NortonLifeLock Inc provides cyber safety solutions for consumers worldwide. The company offers Norton security solutions as 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.

Read More: What Are Treasury Bonds?

Receive News & Ratings for NortonLifeLock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NortonLifeLock and related companies with MarketBeat.com's FREE daily email newsletter.