Brokers Issue Forecasts for Netflix, Inc.’s Q3 2017 Earnings (NFLX)
Netflix, Inc. (NASDAQ:NFLX) – KeyCorp lifted their Q3 2017 earnings per share (EPS) estimates for shares of Netflix in a note issued to investors on Monday. KeyCorp analyst A. Hargreaves now anticipates that the Internet television network will post earnings of $0.32 per share for the quarter, up from their previous forecast of $0.22. KeyCorp also issued estimates for Netflix’s Q4 2018 earnings at $0.58 EPS and FY2018 earnings at $1.97 EPS.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Monday, July 17th. The Internet television network reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.01. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.76 billion. Netflix had a net margin of 3.55% and a return on equity of 12.82%. Netflix’s revenue was up 32.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.09 EPS.
NFLX has been the subject of a number of other reports. Instinet reissued a “buy” rating on shares of Netflix in a research report on Friday, June 2nd. Canaccord Genuity increased their target price on shares of Netflix from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, June 16th. Bank of America Corporation reissued a “buy” rating and set a $184.00 target price (up from $154.00) on shares of Netflix in a research report on Tuesday, April 18th. Pacific Crest reissued an “overweight” rating and set a $170.00 target price on shares of Netflix in a research report on Friday, April 7th. Finally, Morgan Stanley reissued an “overweight” rating and set a $185.00 target price (up from $175.00) on shares of Netflix in a research report on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-nine have assigned a buy rating to the company. Netflix has a consensus rating of “Buy” and an average target price of $169.38.
Shares of Netflix (NASDAQ NFLX) opened at 183.86 on Thursday. The firm has a market capitalization of $79.32 billion, a P/E ratio of 223.67 and a beta of 0.98. Netflix has a 52 week low of $85.01 and a 52 week high of $187.17. The company has a 50-day moving average of $157.45 and a 200 day moving average of $148.14. Netflix also was the recipient of some unusual options trading activity on Monday. Stock traders acquired 105,623 call options on the company. This is an increase of 271% compared to the average daily volume of 28,474 call options.
In other news, General Counsel David A. Hyman sold 14,021 shares of Netflix stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $150.00, for a total value of $2,103,150.00. Following the completion of the sale, the general counsel now directly owns 41,629 shares in the company, valued at $6,244,350. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gregory K. Peters sold 12,768 shares of Netflix stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $177.38, for a total transaction of $2,264,787.84. Following the completion of the sale, the insider now owns 19,208 shares of the company’s stock, valued at $3,407,115.04. The disclosure for this sale can be found here. Insiders sold 343,728 shares of company stock valued at $53,858,193 over the last quarter. Company insiders own 4.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Clean Yield Group acquired a new stake in shares of Netflix during the first quarter valued at about $103,000. TD Capital Management LLC acquired a new stake in shares of Netflix during the second quarter valued at about $105,000. SRS Capital Advisors Inc. raised its stake in shares of Netflix by 3,361.9% in the first quarter. SRS Capital Advisors Inc. now owns 727 shares of the Internet television network’s stock valued at $107,000 after buying an additional 706 shares during the period. Harfst & Associates Inc. acquired a new stake in shares of Netflix during the first quarter valued at about $109,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in shares of Netflix by 24.2% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 770 shares of the Internet television network’s stock valued at $114,000 after buying an additional 150 shares during the period. Institutional investors own 82.77% of the company’s stock.
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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