William Blair Analysts Boost Earnings Estimates for Netflix, Inc. (NASDAQ:NFLX)
Netflix, Inc. (NASDAQ:NFLX) – Equities researchers at William Blair lifted their Q3 2017 earnings estimates for Netflix in a research note issued to investors on Tuesday. William Blair analyst R. Schackart now anticipates that the Internet television network will earn $0.32 per share for the quarter, up from their previous forecast of $0.22. William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for Netflix’s FY2018 earnings at $1.60 EPS, FY2019 earnings at $3.33 EPS and FY2020 earnings at $5.24 EPS.
A number of other research firms have also commented on NFLX. UBS AG reaffirmed a “buy” rating and issued a $175.00 price objective on shares of Netflix in a research note on Wednesday, April 19th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $190.00 price objective (up from $154.00) on shares of Netflix in a research note on Tuesday. Robert W. Baird reaffirmed a “neutral” rating and issued a $175.00 price objective (up from $140.00) on shares of Netflix in a research note on Tuesday. Pacific Crest reaffirmed an “overweight” rating and issued a $190.00 price objective (up from $170.00) on shares of Netflix in a research note on Tuesday. Finally, Royal Bank Of Canada upped their price objective on shares of Netflix from $175.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday. Two 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 stock. The stock presently has a consensus rating of “Buy” and an average price target of $169.38.
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Shares of Netflix (NASDAQ NFLX) opened at 183.60 on Friday. The firm has a market capitalization of $79.20 billion, a price-to-earnings ratio of 223.36 and a beta of 0.98. The firm has a 50-day moving average of $158.04 and a 200 day moving average of $148.40. Netflix has a 12-month low of $85.01 and a 12-month high of $187.17.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Monday, July 17th. The Internet television network reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by $0.01. Netflix had a net margin of 3.55% and a return on equity of 12.82%. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same period in the previous year, the business posted $0.09 earnings per share. Netflix’s revenue was up 32.3% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Clean Yield Group acquired a new position in Netflix during the first quarter valued at $103,000. TD Capital Management LLC acquired a new position in Netflix during the second quarter valued at $105,000. SRS Capital Advisors Inc. increased its position in 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 last quarter. Harfst & Associates Inc. acquired a new position in Netflix during the first quarter valued at $109,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. increased its position in 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 last quarter. Institutional investors and hedge funds own 82.77% of the company’s stock.
In other Netflix news, Director Richard N. Barton sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $159.08, for a total value of $318,160.00. Following the completion of the transaction, the director now directly owns 7,082 shares in the company, valued at approximately $1,126,604.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Reed Hastings sold 101,815 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $157.13, for a total value of $15,998,190.95. Following the completion of the transaction, the chief executive officer now owns 101,815 shares of the company’s stock, valued at $15,998,190.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 343,728 shares of company stock valued at $53,858,193. 4.90% of the stock is currently owned by corporate insiders.
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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