Netflix Inc. (NFLX) Debt Trading 1% Lower Analyst
An issue of Netflix Inc. (NASDAQ:NFLX) bonds fell 1% against their face value during trading on Tuesday after FBR & Co lowered their price target on the stock from $100.00 to $90.00. The high-yield debt issue has a 5.875% coupon and is set to mature on February 15, 2025. The bonds in the issue are now trading at $113.25 and were trading at $114.50 one week ago. Price changes in a company’s bonds in credit markets often predict parallel changes in its share price.
Other equities analysts have also recently issued reports about the company. Needham & Company LLC lowered Netflix from a “buy” rating to a “hold” rating and upped their price objective for the stock from $95.15 to $96.67 in a research note on Tuesday, July 5th. Pivotal Research restated a “buy” rating and issued a $155.00 price objective (up from $125.00) on shares of Netflix in a research note on Tuesday. Bank of America Corp. restated a “buy” rating and issued a $146.00 price objective on shares of Netflix in a research note on Friday, August 26th. Jefferies Group restated an “underperform” rating and issued a $80.00 price objective (up from $76.00) on shares of Netflix in a research note on Tuesday. Finally, Wedbush upped their price objective on Netflix from $45.00 to $50.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 19th. Eight investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-eight have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $115.72.
In related news, Director Richard N. Barton sold 1,400 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $100.00, for a total transaction of $140,000.00. Following the completion of the transaction, the director now directly owns 16,262 shares in the company, valued at $1,626,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard N. Barton sold 2,800 shares of the business’s stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $104.27, for a total transaction of $291,956.00. Following the transaction, the director now owns 15,254 shares of the company’s stock, valued at $1,590,534.58. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.
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A number of hedge funds and other institutional investors have recently bought and sold shares of NFLX. Adage Capital Partners GP L.L.C. increased its position in shares of Netflix by 69.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 645,960 shares of the Internet television network’s stock worth $66,036,000 after buying an additional 265,678 shares during the period. National Pension Service increased its position in shares of Netflix by 4.2% in the first quarter. National Pension Service now owns 215,392 shares of the Internet television network’s stock worth $22,020,000 after buying an additional 8,623 shares during the period. Hancock Holding Co. increased its position in shares of Netflix by 14.2% in the first quarter. Hancock Holding Co. now owns 120,712 shares of the Internet television network’s stock worth $12,340,000 after buying an additional 15,029 shares during the period. Geode Capital Management LLC increased its position in shares of Netflix by 2.4% in the first quarter. Geode Capital Management LLC now owns 3,450,527 shares of the Internet television network’s stock worth $352,036,000 after buying an additional 79,246 shares during the period. Finally, Pictet Asset Management Ltd. increased its position in shares of Netflix by 2.5% in the first quarter. Pictet Asset Management Ltd. now owns 362,690 shares of the Internet television network’s stock worth $33,879,000 after buying an additional 8,776 shares during the period. Institutional investors own 78.41% of the company’s stock.
The stock has a market capitalization of $50.93 billion, a price-to-earnings ratio of 371.22 and a beta of 1.14. The firm has a 50-day moving average price of $98.99 and a 200 day moving average price of $96.28.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Monday, October 17th. The Internet television network reported $0.12 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.06. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the prior year, the firm posted $0.07 EPS. The company’s quarterly revenue was up 31.7% compared to the same quarter last year. Analysts expect that Netflix Inc. will post $0.28 EPS for the current year.
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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