Netflix, Inc. (NASDAQ:NFLX) – Analysts at B. Riley lowered their FY2018 earnings estimates for Netflix in a research report issued to clients and investors on Wednesday, October 17th, according to Zacks Investment Research. B. Riley analyst B. Crockett now expects that the Internet television network will post earnings per share of $2.63 for the year, down from their prior forecast of $2.82. B. Riley has a “Buy” rating and a $322.00 price target on the stock. B. Riley also issued estimates for Netflix’s FY2019 earnings at $4.27 EPS and FY2020 earnings at $6.29 EPS.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, October 16th. The Internet television network reported $0.89 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.21. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $3.99 billion. Netflix had a net margin of 8.48% and a return on equity of 29.52%. The business’s revenue for the quarter was up 34.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.29 EPS.
Several other equities analysts have also commented on the stock. Citigroup reduced their target price on shares of Netflix and set a “neutral” rating on the stock in a report on Monday, October 15th. Loop Capital increased their target price on shares of Netflix from $365.00 to $385.00 in a report on Wednesday, October 17th. Imperial Capital reduced their target price on shares of Netflix from $503.00 to $494.00 and set an “outperform” rating on the stock in a report on Monday, August 13th. Credit Suisse Group reaffirmed a “buy” rating and set a $470.00 target price on shares of Netflix in a report on Monday, October 1st. Finally, Guggenheim increased their target price on shares of Netflix from $360.00 to $420.00 and gave the company a “buy” rating in a report on Wednesday, September 19th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirty-one have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $378.74.
Shares of NASDAQ:NFLX traded down $14.45 during trading on Thursday, reaching $303.47. The company had a trading volume of 13,462,812 shares, compared to its average volume of 17,085,652. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.39 and a quick ratio of 1.39. Netflix has a 12 month low of $178.38 and a 12 month high of $423.21. The firm has a market capitalization of $142.82 billion, a price-to-earnings ratio of 242.78, a PEG ratio of 4.15 and a beta of 1.18.
In other news, CFO David B. Wells sold 1,000 shares of the firm’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $311.10, for a total value of $311,100.00. Following the completion of the sale, the chief financial officer now directly owns 1,000 shares of the company’s stock, valued at approximately $311,100. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard N. Barton sold 700 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $340.77, for a total transaction of $238,539.00. Following the completion of the sale, the director now directly owns 7,393 shares of the company’s stock, valued at $2,519,312.61. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 335,842 shares of company stock valued at $113,900,463. Corporate insiders own 4.29% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of NFLX. MCF Advisors LLC purchased a new position in Netflix during the 3rd quarter valued at about $108,000. Perennial Advisors LLC lifted its position in Netflix by 2,021.4% during the 3rd quarter. Perennial Advisors LLC now owns 297 shares of the Internet television network’s stock valued at $111,000 after acquiring an additional 283 shares during the period. Atlas Capital Advisors LLC purchased a new position in Netflix during the 3rd quarter valued at about $113,000. CSat Investment Advisory L.P. purchased a new position in Netflix during the 2nd quarter valued at about $117,000. Finally, Westside Investment Management Inc. lifted its position in Netflix by 225.5% during the 3rd quarter. Westside Investment Management Inc. now owns 332 shares of the Internet television network’s stock valued at $117,000 after acquiring an additional 230 shares during the period. 74.04% of the stock is owned by institutional investors.
Netflix Company Profile
Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.
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