Netflix Inc. (NFLX) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS
Netflix Inc. (NASDAQ:NFLX) posted its quarterly earnings data on Monday. The Internet television network reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. Netflix had a net margin of 1.85% and a return on equity of 5.59%. During the same quarter last year, the firm earned $0.07 earnings per share.
Netflix (NASDAQ:NFLX) traded down 1.65% during midday trading on Monday, hitting $99.80. The stock had a trading volume of 23,395,809 shares. Netflix has a 1-year low of $79.95 and a 1-year high of $133.27. The company has a market capitalization of $42.79 billion, a PE ratio of 311.88 and a beta of 1.14. The stock’s 50-day moving average is $98.93 and its 200-day moving average is $96.40.
NFLX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $116.00 price target (down from $125.00) on shares of Netflix in a research report on Tuesday, July 19th. MKM Partners reduced their price target on shares of Netflix from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, July 20th. Vetr raised shares of Netflix from a “hold” rating to a “buy” rating and set a $103.71 price target for the company in a research report on Thursday, September 8th. BMO Capital Markets reissued a “market perform” rating and issued a $85.00 price target on shares of Netflix in a research report on Thursday, July 28th. Finally, Jefferies Group reissued an “underperform” rating and issued a $76.00 price target on shares of Netflix in a research report on Friday, September 23rd. Eight analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Netflix has a consensus rating of “Hold” and an average price target of $110.29.
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In other Netflix news, Director Richard N. Barton sold 2,800 shares of the firm’s stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $104.27, for a total transaction of $291,956.00. Following the sale, the director now directly owns 15,254 shares of the company’s stock, valued at $1,590,534.58. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard N. Barton sold 1,400 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $93.58, for a total value of $131,012.00. Following the sale, the director now directly owns 15,562 shares in the company, valued at $1,456,291.96. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.
A number of large investors have recently bought and sold shares of NFLX. Cornerstone Advisors Inc. boosted its stake in Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock worth $102,000 after buying an additional 228 shares in the last quarter. Krilogy Financial LLC raised its position in shares of Netflix by 12.9% in the second quarter. Krilogy Financial LLC now owns 1,921 shares of the Internet television network’s stock worth $176,000 after buying an additional 220 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Netflix by 2,250.6% in the second quarter. Bessemer Group Inc. now owns 1,998 shares of the Internet television network’s stock worth $183,000 after buying an additional 1,913 shares during the last quarter. Miles Capital Inc. purchased a new position in shares of Netflix during the second quarter worth $216,000. Finally, Sunbelt Securities Inc. raised its position in shares of Netflix by 4,215.7% in the second quarter. Sunbelt Securities Inc. now owns 3,021 shares of the Internet television network’s stock worth $276,000 after buying an additional 2,951 shares during the last quarter. 78.41% of the stock is currently owned by institutional investors and hedge funds.
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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