Netflix Inc. (NFLX) Updates Q4 Earnings Guidance
Netflix Inc. (NASDAQ:NFLX) updated its fourth quarter earnings guidance on Monday. The company provided earnings per share guidance of $0.13 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.08.
NFLX has been the subject of a number of research reports. Nomura reiterated a buy rating and set a $115.00 price objective (down from $125.00) on shares of Netflix in a report on Monday, June 20th. Zacks Investment Research upgraded Netflix from a hold rating to a buy rating and set a $105.00 price objective for the company in a report on Tuesday, June 21st. Sanford C. Bernstein reiterated an underperform rating and set a $62.00 price objective on shares of Netflix in a report on Wednesday, June 22nd. Cantor Fitzgerald reiterated a buy rating and set a $140.00 price objective on shares of Netflix in a report on Thursday, June 23rd. Finally, Pacific Crest reiterated a buy rating and set a $130.00 price objective on shares of Netflix in a report on Wednesday, June 22nd. 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. The stock currently has a consensus rating of Hold and an average price target of $110.29.
Shares of Netflix Inc. (NASDAQ:NFLX) traded down 1.65% on Monday, hitting $99.80. The stock had a trading volume of 24,873,342 shares. The stock has a market cap of $42.79 billion, a PE ratio of 311.88 and a beta of 1.14. The company has a 50 day moving average price of $98.93 and a 200-day moving average price of $96.40. Netflix Inc. has a 12 month low of $79.95 and a 12 month high of $133.27.
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Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, October 17th. The Internet television network reported $0.12 earnings per share (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%. The firm earned $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the previous year, the firm posted $0.07 EPS. The company’s revenue for the quarter was up 31.7% compared to the same quarter last year. On average, equities research analysts anticipate that Netflix Inc. will post $0.28 earnings per share for the current year.
In related news, Director Richard N. Barton sold 1,400 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $93.58, for a total value of $131,012.00. Following the completion of the transaction, the director now owns 15,562 shares of the company’s stock, valued at approximately $1,456,291.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard N. Barton sold 700 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $93.87, for a total transaction of $65,709.00. Following the completion of the transaction, the director now directly owns 15,562 shares of the company’s stock, valued at approximately $1,460,804.94. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Cornerstone Advisors Inc. increased its position 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. Krilogy Financial LLC increased 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 valued at $176,000 after buying an additional 220 shares in the last quarter. Bessemer Group Inc. increased 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 valued at $183,000 after buying an additional 1,913 shares in the last quarter. Miles Capital Inc. purchased a new position in shares of Netflix during the second quarter valued at $216,000. Finally, Sunbelt Securities Inc. increased 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 valued at $276,000 after buying an additional 2,951 shares in the last quarter. 78.41% of the stock is owned by 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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