Brokers Set Expectations for Netflix Inc.’s FY2016 Earnings (NFLX)
Netflix Inc. (NASDAQ:NFLX) – Equities research analysts at Wedbush boosted their FY2016 earnings per share (EPS) estimates for Netflix in a research report issued to clients and investors on Tuesday. Wedbush analyst M. Pachter now forecasts that the firm will post earnings per share of $0.40 for the year, up from their previous forecast of $0.32. Wedbush currently has a “Underperform” rating and a $60.00 target price on the stock. Wedbush also issued estimates for Netflix’s Q4 2016 earnings at $0.13 EPS, Q1 2017 earnings at $0.12 EPS, Q2 2017 earnings at $0.15 EPS and Q3 2017 earnings at $0.14 EPS.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, October 17th. The Internet television network reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.06. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. Netflix had a net margin of 1.99% and a return on equity of 6.45%. The company’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.07 EPS.
NFLX has been the subject of several other reports. Vetr upgraded Netflix from a “hold” rating to a “buy” rating and set a $102.90 price objective for the company in a report on Tuesday, September 20th. Cantor Fitzgerald reiterated a “buy” rating on shares of Netflix in a report on Friday, September 9th. FBR & Co reiterated a “market perform” rating and issued a $90.00 price objective on shares of Netflix in a report on Thursday, September 15th. RBC Capital Markets reiterated an “outperform” rating and issued a $130.00 price objective on shares of Netflix in a report on Monday, August 29th. Finally, Jefferies Group reiterated an “underperform” rating and issued a $76.00 price objective on shares of Netflix in a report on Friday, September 23rd. Eight research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $115.73.
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Shares of Netflix (NASDAQ:NFLX) traded up 2.45% on Wednesday, hitting $121.70. 13,717,195 shares of the stock were exchanged. The company has a 50 day moving average of $99.60 and a 200 day moving average of $96.38. The company has a market cap of $52.18 billion, a price-to-earnings ratio of 380.31 and a beta of 1.14. Netflix has a 52-week low of $79.95 and a 52-week high of $133.27.
In related news, Director Richard N. Barton sold 2,800 shares of Netflix stock in a transaction that occurred on Thursday, October 6th. The stock was 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 in the company, valued at $1,590,534.58. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Reed Hastings sold 116,431 shares of Netflix stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $86.59, for a total value of $10,081,760.29. Following the transaction, the chief executive officer now owns 116,431 shares in the company, valued at approximately $10,081,760.29. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.
A number of institutional investors have recently made changes to their positions in NFLX. Hillman Co. bought a new position in shares of Netflix during the third quarter worth approximately $34,495,000. Appropriate Balance Financial Services Inc. boosted its stake in Netflix by 7.0% in the third quarter. Appropriate Balance Financial Services Inc. now owns 5,481 shares of the Internet television network’s stock valued at $540,000 after buying an additional 360 shares during the period. Puplava Financial Services Inc. acquired a new stake in Netflix during the third quarter valued at about $276,000. First New York Securities LLC NY acquired a new stake in Netflix during the third quarter valued at about $212,000. Finally, National Pension Service boosted its stake in Netflix by 8.7% in the third quarter. National Pension Service now owns 272,049 shares of the Internet television network’s stock valued at $26,810,000 after buying an additional 21,790 shares during the period. Hedge funds and other institutional investors own 78.41% of the company’s stock.
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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