NortonLifeLock (NLOK) got here out with quarterly earnings of $0.36 per share, beating the Zacks Co
NortonLifeLock (NLOK) got here out with quarterly earnings of $0.36 per share, beating the Zacks Consensus Estimate of $0.33 per share. This compares to earnings of $0.18 per share a 12 months in the past. These figures are adjusted for non-recurring gadgets.
This quarterly report represents an earnings shock of 9.09%. 1 / 4 in the past, it was anticipated that this safety software program maker would put up earnings of $0.21 per share when it truly produced earnings of $0.31, delivering a shock of 47.62%.
During the last 4 quarters, the corporate has surpassed consensus EPS estimates 4 instances.
NortonLifeLock, which belongs to the Zacks Safety and Security Companies trade, posted revenues of $642 million for the quarter ended September 2020, surpassing the Zacks Consensus Estimate by 3.36%. This compares to year-ago revenues of $608 million. The corporate has topped consensus income estimates 4 instances over the past 4 quarters.
The sustainability of the inventory’s instant value motion primarily based on the recently-released numbers and future earnings expectations will largely depend upon administration’s commentary on the earnings name.
NortonLifeLock shares have misplaced about 13.9% for the reason that starting of the 12 months versus the S&P 500’s acquire of 6.6%.
What’s Subsequent for NortonLifeLock?
Whereas NortonLifeLock has underperformed the market to date this 12 months, the query that involves traders’ minds is: what’s subsequent for the inventory?
There are not any simple solutions to this key query, however one dependable measure that may assist traders handle that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but in addition how these expectations have modified currently.
Empirical analysis reveals a powerful correlation between near-term inventory actions and developments in earnings estimate revisions. Traders can monitor such revisions by themselves or depend on a tried-and-tested ranking software just like the Zacks Rank, which has a powerful monitor report of harnessing the ability of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions pattern for NortonLifeLock was combined. Whereas the magnitude and course of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out consistent with the market within the close to future. You possibly can see the whole listing of as we speak’s Zacks #1 Rank (Sturdy Purchase) shares right here.
Will probably be attention-grabbing to see how estimates for the approaching quarters and present fiscal 12 months change within the days forward. The present consensus EPS estimate is $0.35 on $622.93 million in revenues for the approaching quarter and $1.33 on $2.49 billion in revenues for the present fiscal 12 months.
Traders ought to be aware of the truth that the outlook for the trade can have a fabric affect on the efficiency of the inventory as effectively. By way of the Zacks Business Rank, Safety and Security Companies is presently within the backside 19% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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NortonLifeLock Inc. (NLOK): Free Inventory Evaluation Report
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The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.