FY2017 EPS Estimates for Netflix Inc. Reduced by Analyst (NFLX)
Netflix Inc. (NASDAQ:NFLX) – Equities researchers at SunTrust Banks cut their FY2017 earnings estimates for Netflix in a report released on Wednesday. SunTrust Banks analyst R. Peck now expects that the firm will earn $0.90 per share for the year, down from their previous forecast of $1.00. SunTrust Banks has a “Neutral” rating and a $100.00 price objective on the stock.
Other analysts have also recently issued research reports about the company. Royal Bank Of Canada reiterated an “outperform” rating and set a $140.00 target price on shares of Netflix in a report on Tuesday, June 28th. Jefferies Group reiterated an “underperform” rating and set a $76.00 target price (down previously from $80.00) on shares of Netflix in a report on Sunday, July 17th. Wedbush reiterated an “underperform” rating and set a $50.00 target price (up previously from $45.00) on shares of Netflix in a report on Sunday, July 17th. BTIG Research reiterated a “buy” rating and set a $130.00 target price (down previously from $150.00) on shares of Netflix in a report on Sunday, July 17th. Finally, Vetr cut Netflix from a “strong-buy” rating to a “buy” rating and set a $100.98 target price for the company. in a report on Tuesday, August 2nd. Seven equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $110.97.
Netflix (NASDAQ:NFLX) traded up 0.08% during mid-day trading on Friday, reaching $105.15. 6,468,263 shares of the company’s stock were exchanged. The company has a market capitalization of $45.08 billion, a P/E ratio of 328.59 and a beta of 1.14. The company’s 50 day moving average price is $97.95 and its 200-day moving average price is $96.30. Netflix has a 52 week low of $79.95 and a 52 week high of $133.27.
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Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Monday, July 18th. The Internet television network reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.07. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The company had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter last year, the company earned $0.06 earnings per share. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis.
In related news, Director Richard N. Barton sold 1,400 shares of the stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $95.63, for a total value of $133,882.00. Following the completion of the sale, the director now directly owns 15,562 shares of the company’s stock, valued at approximately $1,488,194.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard N. Barton sold 700 shares of the stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $96.19, for a total value of $67,333.00. Following the completion of the sale, the director now directly owns 15,562 shares of the company’s stock, valued at $1,496,908.78. The disclosure for this sale can be found here. 4.90% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in NFLX. Cornerstone Advisors Inc. increased its stake in shares of Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock valued at $102,000 after buying an additional 228 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in Netflix during the second quarter worth $124,000. Quadrant Capital Group LLC increased its stake in Netflix by 15.1% in the second quarter. Quadrant Capital Group LLC now owns 1,475 shares of the Internet television network’s stock worth $126,000 after buying an additional 194 shares during the period. Coconut Grove Bank increased its stake in Netflix by 1.7% in the second quarter. Coconut Grove Bank now owns 1,526 shares of the Internet television network’s stock worth $140,000 after buying an additional 26 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in Netflix by 15.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,690 shares of the Internet television network’s stock worth $155,000 after buying an additional 224 shares during the period. 78.43% of the stock is owned by hedge funds and other institutional investors.
Netflix Company Profile
Netflix, Inc (Netflix) is a provider of Internet television network. The Company’s members can watch original series, documentaries and feature films in Internet-connected screen. The Company has three operating segments: Domestic streaming, International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content.
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