Netflix Inc. (NFLX) Announces Earnings Results, Beats Expectations By $0.06 EPS
Netflix Inc. (NASDAQ:NFLX) issued its quarterly earnings results on Monday. The Internet television network reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.06. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. Netflix had a return on equity of 5.59% and a net margin of 1.85%. Netflix’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same period last year, the company posted $0.07 earnings per share. Netflix updated its Q4 guidance to $0.13 EPS.
Shares of Netflix (NASDAQ:NFLX) traded down 1.65% on Monday, hitting $99.80. The company’s stock had a trading volume of 24,481,837 shares. The firm has a market cap of $42.79 billion, a price-to-earnings ratio of 311.88 and a beta of 1.14. The stock has a 50-day moving average price of $98.93 and a 200 day moving average price of $96.40. Netflix has a one year low of $79.95 and a one year high of $133.27.
In related news, Director Jay C. Hoag purchased 600,000 shares of Netflix stock in a transaction that occurred on Monday, July 25th. The stock was purchased at an average price of $86.43 per share, for a total transaction of $51,858,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Reed Hastings sold 116,431 shares of the company’s stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $86.59, for a total transaction of $10,081,760.29. Following the transaction, the chief executive officer now owns 116,431 shares of the company’s stock, valued at approximately $10,081,760.29. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Krilogy Financial LLC increased its position in Netflix by 12.9% in the second quarter. Krilogy Financial LLC now owns 1,921 shares of the Internet television network’s stock valued at $176,000 after buying an additional 220 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in Netflix by 236.7% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 20,768 shares of the Internet television network’s stock valued at $1,900,000 after buying an additional 14,600 shares during the period. Panagora Asset Management Inc. increased its position in Netflix by 1.5% in the second quarter. Panagora Asset Management Inc. now owns 59,471 shares of the Internet television network’s stock valued at $5,440,000 after buying an additional 899 shares during the period. Capital World Investors increased its position in Netflix by 32.4% in the second quarter. Capital World Investors now owns 6,656,926 shares of the Internet television network’s stock valued at $608,976,000 after buying an additional 1,630,881 shares during the period. Finally, Wellington Shields Capital Management LLC bought a new position in Netflix during the second quarter valued at $311,000. Hedge funds and other institutional investors own 78.41% of the company’s stock.
A number of analysts recently commented on the company. Needham & Company LLC lowered Netflix from a “buy” rating to a “hold” rating and lifted their price target for the stock from $95.15 to $96.67 in a report on Tuesday, July 5th. Bank of America Corp. reiterated a “buy” rating and set a $146.00 price target on shares of Netflix in a report on Friday, August 26th. Wedbush boosted their target price on Netflix from $45.00 to $50.00 and gave the company an “underperform” rating in a research note on Tuesday, July 19th. Vetr lowered Netflix from a “strong-buy” rating to a “buy” rating and set a $102.41 target price on the stock. in a research note on Wednesday, July 27th. Finally, Piper Jaffray Cos. restated an “overweight” rating and issued a $122.00 target price on shares of Netflix in a research note on Wednesday, September 7th. Eight investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. Netflix currently has an average rating of “Hold” and an average price target of $110.29.
Netflix Company Profile
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.
Receive News & Stock Ratings for Netflix Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix Inc. and related stocks with our FREE daily email newsletter.