Netflix Inc. (NFLX) Updates Q4 Earnings Guidance
Netflix Inc. (NASDAQ:NFLX) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $0.13 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.08.
Netflix Inc. (NASDAQ:NFLX) traded down 1.65% during mid-day trading on Monday, reaching $99.80. 24,873,342 shares of the company traded hands. The firm’s 50-day moving average is $98.93 and its 200 day moving average is $96.40. Netflix Inc. has a 52-week low of $79.95 and a 52-week high of $133.27. The stock has a market capitalization of $42.79 billion, a PE ratio of 311.88 and a beta of 1.14.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, October 17th. The Internet television network reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.06. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter last year, the firm posted $0.07 earnings per share. Netflix’s revenue for the quarter was up 31.7% compared to the same quarter last year. On average, equities research analysts expect that Netflix Inc. will post $0.28 earnings per share for the current year.
Several brokerages have issued reports on NFLX. Vetr raised shares of Netflix from a hold rating to a buy rating and set a $102.90 price objective for the company in a research report on Tuesday, September 20th. Cantor Fitzgerald reaffirmed a buy rating on shares of Netflix in a research report on Friday, September 9th. FBR & Co reaffirmed a market perform rating and issued a $90.00 price objective on shares of Netflix in a research report on Thursday, September 15th. RBC Capital Markets reaffirmed an outperform rating and issued a $130.00 price objective on shares of Netflix in a research report on Monday, August 29th. Finally, Wedbush set a $45.00 price objective on shares of Netflix and gave the company a sell rating in a research report on Thursday. Eight equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-seven have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $110.29.
In other Netflix news, CEO Reed Hastings sold 116,431 shares of the 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 sale, the chief executive officer now directly owns 116,431 shares in the company, valued at $10,081,760.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard N. Barton sold 2,800 shares of the 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 completion of 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 owned by company insiders.
Several large investors have recently made changes to their positions in the company. Lebenthal Asset Management LLC acquired a new stake in shares of Netflix during the second quarter valued at about $863,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Netflix during the second quarter valued at about $457,000. Janney Montgomery Scott LLC acquired a new stake in shares of Netflix during the second quarter valued at about $2,490,000. Alliancebernstein L.P. increased its stake in shares of Netflix by 2.5% in the second quarter. Alliancebernstein L.P. now owns 1,204,334 shares of the Internet television network’s stock valued at $110,172,000 after buying an additional 29,123 shares during the period. Finally, GAM Holding AG increased its stake in shares of Netflix by 16.6% in the second quarter. GAM Holding AG now owns 74,965 shares of the Internet television network’s stock valued at $6,858,000 after buying an additional 10,653 shares during the period. Institutional investors own 78.41% of the company’s stock.
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.
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