No, it is well established by Armenian historians and Western scholars, that Armenians did indeed suffer and die in large numbers indirectly or directly by massacres or relocations.
However, genocide means there was intent by the government or intent by the groups responsible for massacres to eradicate a certain group, as defined by the United Nations. Yet no proof has been uncovered of intent for over 93 years.
Do not confuse "Genocide" with "Massacre". Western historians do not deny the Armenian Massacres, they simply believe that the label of genocide is too extreme and unfounded to be applied in this specific case of ethnic conflict.
Some propagandists today have been working hard to equate the Holocaust to the Armenian Genocide thesis. They use words like "historical revisionist" or "denialist" to describe people who do not accept the accusation of the genocide. When confronted, they argue that the Armenian Genocide label is well established by an overwhelming majority of historians, but this is simply not true.