Netflix, Inc. (NFLX) Releases Quarterly Earnings Results
Netflix, Inc. (NASDAQ:NFLX) issued its quarterly earnings results on Monday. The Internet television network reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.01, Bloomberg Earnings reports. Netflix had a return on equity of 25.29% and a net margin of 6.76%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same period last year, the company posted $0.09 EPS. The business’s revenue was up 32.3% on a year-over-year basis. Netflix updated its Q3 guidance to $0.32 EPS.
Shares of Netflix (NFLX) traded up 0.36% on Monday, reaching $161.70. 17,496,685 shares of the company’s stock were exchanged. The company’s 50 day moving average is $157.80 and its 200-day moving average is $144.87. The stock has a market cap of $69.69 billion, a price-to-earnings ratio of 209.18 and a beta of 0.99. Netflix has a one year low of $84.50 and a one year high of $166.87.
A number of brokerages have recently weighed in on NFLX. Rosenblatt Securities reaffirmed a “neutral” rating and set a $155.00 price target on shares of Netflix in a report on Monday. Sanford C. Bernstein set a $178.00 price target on shares of Netflix and gave the stock a “buy” rating in a report on Monday. Nomura set a $175.00 price target on shares of Netflix and gave the stock a “buy” rating in a report on Monday. Instinet reissued a “buy” rating and issued a $175.00 price objective (up previously from $165.00) on shares of Netflix in a research note on Monday. Finally, Vetr downgraded shares of Netflix from a “buy” rating to a “hold” rating and set a $164.65 price objective for the company. in a research note on Monday. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-nine have given a buy rating to the stock. Netflix has a consensus rating of “Buy” and an average price target of $152.72.
In related news, Director Leslie J. Kilgore sold 1,078 shares of Netflix stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $162.00, for a total value of $174,636.00. Following the completion of the sale, the director now directly owns 36,274 shares in the company, valued at $5,876,388. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard N. Barton sold 1,000 shares of Netflix stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $156.62, for a total value of $156,620.00. Following the completion of the sale, the director now owns 8,012 shares of the company’s stock, valued at $1,254,839.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 421,458 shares of company stock valued at $64,206,893. Corporate insiders own 4.90% of the company’s stock.
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Netflix Company Profile
Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.
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