Netflix, Inc. Expected to Post FY2018 Earnings of $2.35 Per Share (NASDAQ:NFLX)
Netflix, Inc. (NASDAQ:NFLX) – Research analysts at Dougherty & Co boosted their FY2018 EPS estimates for shares of Netflix in a research report issued on Tuesday. Dougherty & Co analyst S. Frankel now expects that the Internet television network will earn $2.35 per share for the year, up from their previous forecast of $1.85. Dougherty & Co also issued estimates for Netflix’s Q4 2018 earnings at $0.81 EPS.
Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.01. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.76 billion. Netflix had a net margin of 3.55% and a return on equity of 12.82%. Netflix’s revenue for the quarter was up 32.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 EPS.
Several other equities research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Netflix from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Moffett Nathanson reaffirmed a “neutral” rating on shares of Netflix in a research note on Tuesday. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $175.00 target price (up previously from $145.00) on shares of Netflix in a research note on Tuesday. Morgan Stanley set a $210.00 target price on shares of Netflix and gave the stock a “buy” rating in a research note on Tuesday. Finally, Wedbush reiterated an “underperform” rating and set a $82.00 price target (up previously from $73.00) on shares of Netflix in a report on Tuesday. Two 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 presently has an average rating of “Buy” and a consensus target price of $169.38.
Netflix (NASDAQ NFLX) traded up 0.65% during midday trading on Thursday, reaching $185.06. 4,512,187 shares of the company were exchanged. The stock has a market capitalization of $79.83 billion, a P/E ratio of 225.13 and a beta of 0.98. The firm’s 50 day moving average price is $157.45 and its 200-day moving average price is $148.14. Netflix has a 52 week low of $85.01 and a 52 week high of $187.17. Netflix also saw unusually large options trading activity on Monday. Investors purchased 105,623 call options on the stock. This is an increase of approximately 271% compared to the typical daily volume of 28,474 call options.
In other news, Director Richard N. Barton sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $156.62, for a total value of $156,620.00. Following the sale, the director now directly owns 8,012 shares in the company, valued at approximately $1,254,839.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Reed Hastings sold 115,577 shares of the company’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $152.63, for a total value of $17,640,517.51. Following the completion of the sale, the chief executive officer now owns 115,577 shares in the company, valued at $17,640,517.51. The disclosure for this sale can be found here. Over the last quarter, insiders sold 343,728 shares of company stock worth $53,858,193. Corporate insiders own 4.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Raymond James Trust N.A. raised its stake in Netflix by 57.0% in the first quarter. Raymond James Trust N.A. now owns 2,800 shares of the Internet television network’s stock valued at $414,000 after buying an additional 1,017 shares in the last quarter. CHURCHILL MANAGEMENT Corp raised its stake in Netflix by 1,487.2% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 190,989 shares of the Internet television network’s stock worth $28,230,000 after buying an additional 178,956 shares during the period. Paradigm Financial Advisors LLC acquired a new stake in Netflix during the first quarter worth approximately $238,000. CENTRAL TRUST Co raised its stake in Netflix by 408.4% in the first quarter. CENTRAL TRUST Co now owns 849 shares of the Internet television network’s stock worth $125,000 after buying an additional 682 shares during the period. Finally, Chevy Chase Trust Holdings Inc. raised its stake in Netflix by 3.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 373,360 shares of the Internet television network’s stock worth $55,187,000 after buying an additional 12,440 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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