Brokers Offer Predictions for Netflix, Inc.’s FY2017 Earnings (NFLX)
Netflix, Inc. (NASDAQ:NFLX) – Investment analysts at KeyCorp increased their FY2017 earnings per share estimates for Netflix in a report released on Thursday. KeyCorp analyst A. Hargreaves now expects that the Internet television network will earn $1.22 per share for the year, up from their previous estimate of $1.18. KeyCorp currently has a “Buy” rating and a $190.00 target price on the stock. KeyCorp also issued estimates for Netflix’s Q4 2017 earnings at $0.35 EPS, Q1 2018 earnings at $0.47 EPS, Q2 2018 earnings at $0.52 EPS, Q3 2018 earnings at $0.54 EPS, Q4 2018 earnings at $0.65 EPS and FY2018 earnings at $2.19 EPS.
Netflix (NASDAQ:NFLX) last posted its earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.01). The company 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%. The firm’s quarterly revenue was up 32.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 EPS. ILLEGAL ACTIVITY WARNING: This story was first reported by American Banking News and is owned by of American Banking News. If you are accessing this story on another domain, it was illegally stolen and republished in violation of United States & international trademark & copyright laws. The original version of this story can be accessed at https://www.americanbankingnews.com/2017/10/06/brokers-offer-predictions-for-netflix-inc-s-fy2017-earnings-nflx.html.
Several other analysts have also recently issued reports on the company. Sanford C. Bernstein set a $203.00 price objective on Netflix and gave the company a “buy” rating in a research note on Wednesday, August 30th. Canaccord Genuity increased their price objective on Netflix from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, June 16th. Morgan Stanley reiterated an “overweight” rating and issued a $185.00 price objective (up from $175.00) on shares of Netflix in a research note on Thursday, July 13th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $175.00 price objective on shares of Netflix in a research note on Friday, June 16th. Finally, Vetr cut Netflix from a “sell” rating to a “strong sell” rating and set a $162.49 price objective on the stock. in a research note on Monday, September 18th. Two equities research analysts have rated the stock with a sell rating, seventeen 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 target price of $181.49.
Netflix (NFLX) opened at 194.39 on Friday. The stock has a market cap of $83.93 billion, a price-to-earnings ratio of 236.48 and a beta of 1.09. Netflix has a 12-month low of $97.63 and a 12-month high of $194.49. The firm’s 50-day moving average price is $177.87 and its 200-day moving average price is $163.29. Netflix also saw unusually large options trading on Thursday. Stock traders bought 122,784 call options on the company. This represents an increase of 283% compared to the typical daily volume of 32,078 call options.
Several large investors have recently bought and sold shares of NFLX. FMR LLC lifted its holdings in shares of Netflix by 12.4% during the 2nd quarter. FMR LLC now owns 23,633,237 shares of the Internet television network’s stock valued at $3,531,042,000 after acquiring an additional 2,605,731 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Netflix by 3,478.1% during the 2nd quarter. Janus Henderson Group PLC now owns 2,041,458 shares of the Internet television network’s stock valued at $305,014,000 after acquiring an additional 1,984,404 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Netflix by 14.0% during the 2nd quarter. Jennison Associates LLC now owns 14,784,089 shares of the Internet television network’s stock valued at $2,208,891,000 after acquiring an additional 1,814,056 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Netflix by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 27,161,082 shares of the Internet television network’s stock valued at $4,014,680,000 after acquiring an additional 921,283 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of Netflix by 22,622.2% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 814,592 shares of the Internet television network’s stock valued at $121,708,000 after acquiring an additional 811,007 shares in the last quarter. Institutional investors and hedge funds own 81.03% of the company’s stock.
In related news, insider Gregory K. Peters sold 12,768 shares of Netflix stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $177.38, for a total transaction of $2,264,787.84. Following the transaction, the insider now owns 19,208 shares in the company, valued at approximately $3,407,115.04. The transaction was disclosed in a document filed 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 on Tuesday, July 25th. The shares were sold at an average price of $187.79, for a total transaction of $187,790.00. Following the transaction, the director now owns 7,198 shares in the company, valued at approximately $1,351,712.42. The disclosure for this sale can be found here. Insiders have sold a total of 310,325 shares of company stock valued at $55,807,018 over the last three months. Corporate insiders own 4.90% of the company’s stock.
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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