Cantor Fitzgerald Comments on Netflix Inc.’s FY2017 Earnings (NFLX)
Netflix Inc. (NASDAQ:NFLX) – Investment analysts at Cantor Fitzgerald lifted their FY2017 earnings per share (EPS) estimates for Netflix in a research report issued on Friday. Cantor Fitzgerald analyst Y. Squali now anticipates that the firm will post earnings per share of $0.82 for the year, up from their prior forecast of $0.69. Cantor Fitzgerald currently has a “Buy” rating on the stock.
Several other equities analysts also recently weighed in on the stock. Jefferies Group reiterated a “hold” rating and issued a $120.00 price target on shares of Netflix in a report on Monday, July 11th. Cowen and Company reiterated an “outperform” rating and issued a $110.00 price target on shares of Netflix in a report on Wednesday, October 12th. FBR & Co reiterated a “market perform” rating and issued a $90.00 price target (down previously from $104.00) on shares of Netflix in a report on Sunday, July 17th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $122.00 price target on shares of Netflix in a report on Tuesday, July 12th. Finally, Vetr cut shares of Netflix from a “strong-buy” rating to a “buy” rating and set a $102.41 price objective on the stock. in a research note on Wednesday, July 27th. Eight 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. Netflix currently has an average rating of “Hold” and an average target price of $110.29.
Shares of Netflix (NASDAQ:NFLX) opened at 101.47 on Monday. The stock has a market cap of $43.50 billion, a P/E ratio of 317.09 and a beta of 1.14. Netflix has a 1-year low of $79.95 and a 1-year high of $133.27. The company’s 50-day moving average is $98.93 and its 200-day moving average is $96.40.
In other news, 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 value of $291,956.00. Following the transaction, the director now directly owns 15,254 shares in the company, valued at approximately $1,590,534.58. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Reed Hastings sold 116,431 shares of the firm’s stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $86.59, for a total value of $10,081,760.29. Following the completion of the transaction, the chief executive officer now owns 116,431 shares in the company, valued at $10,081,760.29. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in NFLX. Adage Capital Partners GP L.L.C. increased its position in Netflix by 69.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 645,960 shares of the Internet television network’s stock worth $66,036,000 after buying an additional 265,678 shares during the period. Scopia Capital Management LP increased its position in Netflix by 55.2% in the first quarter. Scopia Capital Management LP now owns 1,846,398 shares of the Internet television network’s stock worth $188,757,000 after buying an additional 656,585 shares during the period. Natixis purchased a new position in Netflix during the first quarter worth approximately $47,023,000. Private Capital Management Inc. purchased a new position in Netflix during the second quarter worth approximately $631,000. Finally, Advisory Services Network LLC increased its position in Netflix by 15.0% in the second quarter. Advisory Services Network LLC now owns 5,415 shares of the Internet television network’s stock worth $495,000 after buying an additional 706 shares during the period. Institutional investors own 78.41% 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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