Netflix Inc. (NFLX) Forecasted to Earn FY2016 Earnings of $0.42 Per Share
Netflix Inc. (NASDAQ:NFLX) – Investment analysts at SunTrust Banks lifted their FY2016 earnings per share (EPS) estimates for shares of Netflix in a note issued to investors on Tuesday. SunTrust Banks analyst R. Peck now expects that the firm will post earnings of $0.42 per share for the year, up from their previous forecast of $0.31. SunTrust Banks has a “Hold” rating and a $115.00 price target on the stock. SunTrust Banks also issued estimates for Netflix’s Q4 2016 earnings at $0.14 EPS, Q1 2017 earnings at $0.19 EPS, Q2 2017 earnings at $0.25 EPS, Q3 2017 earnings at $0.28 EPS, Q4 2017 earnings at $0.33 EPS and FY2018 earnings at $1.91 EPS.
Several other brokerages have also recently weighed in on NFLX. FBR & Co lifted their price objective on shares of Netflix from $90.00 to $100.00 and gave the stock a “market perform” rating in a research note on Tuesday. Deutsche Bank AG began coverage on shares of Netflix in a research note on Monday, October 10th. They issued a “sell” rating and a $90.00 price objective for the company. They noted that the move was a valuation call. Raymond James Financial Inc. set a $120.00 price objective on shares of Netflix and gave the stock a “buy” rating in a research note on Monday, October 10th. Vetr cut shares of Netflix from a “buy” rating to a “hold” rating and set a $105.94 price objective for the company. in a research note on Monday, October 3rd. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $94.00 price objective on shares of Netflix in a research note on Tuesday, October 4th. Eight research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $115.73.
Shares of Netflix (NASDAQ:NFLX) traded up 2.45% during mid-day trading on Wednesday, reaching $121.70. 13,717,201 shares of the company’s stock traded hands. The stock has a market cap of $52.18 billion, a PE ratio of 380.31 and a beta of 1.14. The firm has a 50 day moving average price of $99.60 and a 200-day moving average price of $96.38. Netflix has a 12 month low of $79.95 and a 12 month high of $133.27.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/19/netflix-inc-nflx-forecasted-to-earn-fy2016-earnings-of-0-42-per-share.html
Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, October 17th. The Internet television network reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.06. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.28 billion. Netflix had a net margin of 1.99% and a return on equity of 6.45%. The company’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.07 earnings per share.
Institutional investors have recently made changes to their positions in the stock. Cornerstone Advisors Inc. raised its position in 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 bought a new position in Netflix during the second quarter valued at about $124,000. Quadrant Capital Group LLC raised its position 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 valued at $126,000 after buying an additional 194 shares in the last quarter. Coconut Grove Bank raised its position in Netflix by 1.7% in the second quarter. Coconut Grove Bank now owns 1,526 shares of the Internet television network’s stock valued at $140,000 after buying an additional 26 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position 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 valued at $155,000 after buying an additional 224 shares in the last quarter. 78.41% of the stock is owned by institutional investors and hedge funds.
In other news, Director Jay C. Hoag acquired 600,000 shares of the stock in a transaction on Monday, July 25th. The stock was acquired at an average price of $86.43 per share, with a total value of $51,858,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard N. Barton sold 2,800 shares of the firm’s stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $104.27, for a total value of $291,956.00. Following the transaction, the director now directly owns 15,254 shares of the company’s stock, valued at approximately $1,590,534.58. The disclosure for this sale can be found here. 4.90% of the stock is owned by corporate insiders.
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.
Receive News & Ratings for Netflix Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix Inc. and related companies with MarketBeat.com's FREE daily email newsletter.