Analysts Anticipate Netflix, Inc. (NFLX) Will Post Quarterly Sales of $2.97 Billion
Brokerages forecast that Netflix, Inc. (NASDAQ:NFLX) will announce $2.97 billion in sales for the current quarter, according to Zacks Investment Research. Thirteen analysts have provided estimates for Netflix’s earnings. The lowest sales estimate is $2.97 billion and the highest is $2.98 billion. Netflix reported sales of $2.29 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 29.7%. The company is expected to issue its next quarterly earnings report on Monday, October 16th.
According to Zacks, analysts expect that Netflix will report full year sales of $2.97 billion for the current year, with estimates ranging from $11.46 billion to $11.55 billion. For the next fiscal year, analysts anticipate that the company will post sales of $14.10 billion per share, with estimates ranging from $13.78 billion to $14.48 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Netflix.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Monday, July 17th. The Internet television network reported $0.15 EPS 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 analysts’ expectations of $2.76 billion. Netflix had a net margin of 3.55% and a return on equity of 12.82%. The business’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 business earned $0.09 earnings per share.
NFLX has been the subject of a number of research analyst reports. Loop Capital reaffirmed a “buy” rating and issued a $167.00 price target on shares of Netflix in a report on Monday, April 10th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $170.00 price target on shares of Netflix in a report on Friday, April 14th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $160.00 price target (up from $148.64) on shares of Netflix in a report on Thursday, April 13th. Pivotal Research upped their price target on Netflix from $170.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, April 18th. Finally, Stifel Nicolaus upped their price target on Netflix from $155.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, April 18th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $174.36.
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In related news, insider Neil D. Hunt sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $159.62, for a total transaction of $1,596,200.00. Following the sale, the insider now directly owns 459,952 shares in the company, valued at approximately $73,417,538.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard N. Barton sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $187.79, for a total value of $187,790.00. Following the sale, the director now owns 7,198 shares in the company, valued at $1,351,712.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 398,801 shares of company stock worth $66,269,371. Company insiders own 4.90% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Netflix by 3.5% in the first quarter. Vanguard Group Inc. now owns 27,161,082 shares of the Internet television network’s stock valued at $4,014,680,000 after buying an additional 921,283 shares during the last quarter. FMR LLC increased its stake in shares of Netflix by 6.6% in the first quarter. FMR LLC now owns 21,027,506 shares of the Internet television network’s stock valued at $3,108,076,000 after buying an additional 1,305,294 shares during the last quarter. State Street Corp increased its stake in shares of Netflix by 2.7% in the first quarter. State Street Corp now owns 17,535,737 shares of the Internet television network’s stock valued at $2,591,946,000 after buying an additional 463,143 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Netflix by 14.0% in the second quarter. Jennison Associates LLC now owns 14,784,089 shares of the Internet television network’s stock valued at $2,208,891,000 after buying an additional 1,814,056 shares during the last quarter. Finally, Baillie Gifford & Co. increased its stake in shares of Netflix by 3.2% in the first quarter. Baillie Gifford & Co. now owns 7,593,097 shares of the Internet television network’s stock valued at $1,122,336,000 after buying an additional 234,664 shares during the last quarter. Institutional investors and hedge funds own 82.78% 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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