FBR & Co Equities Analysts Decrease Earnings Estimates for Netflix Inc. (NFLX)
Netflix Inc. (NASDAQ:NFLX) – Equities researchers at FBR & Co dropped their Q3 2016 earnings per share (EPS) estimates for shares of Netflix in a research report issued to clients and investors on Wednesday. FBR & Co analyst B. Crockett now forecasts that the firm will post earnings per share of $0.05 for the quarter, down from their prior forecast of $0.06. FBR & Co currently has a “Market Perform” rating and a $90.00 target price on the stock. FBR & Co also issued estimates for Netflix’s FY2016 earnings at $0.29 EPS.
Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Monday, July 18th. The Internet television network reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.07. Netflix had a return on equity of 5.59% and a net margin of 1.85%. The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter last year, the business posted $0.06 EPS. Netflix’s revenue for the quarter was up 19.5% on a year-over-year basis.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Netflix from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a report on Tuesday, June 21st. Nomura reissued a “buy” rating and set a $115.00 target price (down previously from $125.00) on shares of Netflix in a report on Monday, June 20th. Vetr cut shares of Netflix from a “strong-buy” rating to a “buy” rating and set a $106.59 target price on the stock. in a report on Thursday, June 16th. Pacific Crest reissued a “buy” rating and set a $130.00 target price on shares of Netflix in a report on Wednesday, June 22nd. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $140.00 target price on shares of Netflix in a report on Thursday, June 23rd. Seven investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $110.97.
Shares of Netflix (NASDAQ:NFLX) opened at 104.82 on Friday. The firm has a market cap of $44.94 billion, a P/E ratio of 327.56 and a beta of 1.14. Netflix has a 12-month low of $79.95 and a 12-month high of $133.27. The company’s 50 day moving average price is $98.20 and its 200 day moving average price is $96.33.
In related news, Director Richard N. Barton sold 1,400 shares of the firm’s stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $95.63, for a total transaction of $133,882.00. Following the completion of the sale, the director now directly owns 15,562 shares in the company, valued at $1,488,194.06. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard N. Barton sold 2,800 shares of the firm’s stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $104.27, for a total transaction of $291,956.00. Following the sale, the director now owns 15,254 shares of the company’s stock, valued at $1,590,534.58. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. boosted its stake in Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock valued at $102,000 after buying an additional 228 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in Netflix during the second quarter valued at about $124,000. Quadrant Capital Group LLC boosted its stake in Netflix by 15.1% in the second quarter. Quadrant Capital Group LLC now owns 1,475 shares of the Internet television network’s stock valued at $126,000 after buying an additional 194 shares during the last quarter. Coconut Grove Bank raised its position in shares of Netflix by 1.7% in the second quarter. Coconut Grove Bank now owns 1,526 shares of the Internet television network’s stock valued at $140,000 after buying an additional 26 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Netflix by 15.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,690 shares of the Internet television network’s stock valued at $155,000 after buying an additional 224 shares during the period. Hedge funds and other institutional investors own 78.43% of the company’s stock.
Netflix, Inc (Netflix) is a provider of Internet television network. The Company’s members can watch original series, documentaries and feature films in Internet-connected screen. The Company has three operating segments: Domestic streaming, International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content.
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