Brokers Set Expectations for Netflix Inc.’s FY2016 Earnings (NFLX)
Netflix Inc. (NASDAQ:NFLX) – Equities researchers at Wedbush lifted their FY2016 earnings per share estimates for shares of Netflix in a research note issued to investors on Tuesday. Wedbush analyst M. Pachter now anticipates that the brokerage will post earnings per share of $0.40 for the year, up from their previous estimate of $0.32. Wedbush currently has a “Underperform” rating and a $60.00 price target on the stock. Wedbush also issued estimates for Netflix’s Q4 2016 earnings at $0.13 EPS, Q1 2017 earnings at $0.12 EPS, Q2 2017 earnings at $0.15 EPS and Q3 2017 earnings at $0.14 EPS.
A number of other equities analysts also recently issued reports on NFLX. Zacks Investment Research upgraded Netflix from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a research report on Tuesday, June 21st. Sanford C. Bernstein reiterated an “underperform” rating and set a $62.00 price target on shares of Netflix in a research report on Wednesday, June 22nd. Cantor Fitzgerald reiterated a “buy” rating and set a $140.00 price target on shares of Netflix in a research report on Thursday, June 23rd. Pacific Crest reiterated a “buy” rating and set a $130.00 price target on shares of Netflix in a research report on Wednesday, June 22nd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $140.00 price target on shares of Netflix in a research report on Tuesday, June 28th. Eight research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $115.73.
Netflix (NASDAQ:NFLX) traded up 2.45% on Wednesday, reaching $121.70. The company had a trading volume of 13,717,195 shares. The stock’s 50 day moving average is $99.60 and its 200-day moving average is $96.38. Netflix has a 1-year low of $79.95 and a 1-year high of $133.27. The stock has a market capitalization of $52.18 billion, a P/E ratio of 380.31 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, topping the Zacks’ consensus estimate of $0.06 by $0.06. Netflix had a return on equity of 6.45% and a net margin of 1.99%. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the previous year, the firm earned $0.07 EPS. The firm’s revenue was up 31.7% compared to the same quarter last year.
In other Netflix news, Director Jay C. Hoag bought 600,000 shares of the stock in a transaction dated Monday, July 25th. The stock was bought at an average cost of $86.43 per share, for a total transaction of $51,858,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Reed Hastings sold 116,431 shares of the firm’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $86.59, for a total value of $10,081,760.29. Following the sale, the chief executive officer now owns 116,431 shares of the company’s stock, valued at $10,081,760.29. The disclosure for this sale can be found here. 4.90% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the stock. Winslow Capital Management LLC acquired a new stake in shares of Netflix during the second quarter valued at $209,447,000. Capital World Investors increased its stake in shares of 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 in the last quarter. Jericho Capital Asset Management L.P. acquired a new stake in shares of Netflix during the first quarter valued at $94,076,000. Capital Research Global Investors increased its stake in shares of Netflix by 1.5% in the second quarter. Capital Research Global Investors now owns 49,967,802 shares of the Internet television network’s stock valued at $4,571,055,000 after buying an additional 761,325 shares in the last quarter. Finally, Criterion Capital Management LLC increased its stake in shares of Netflix by 241.5% in the second quarter. Criterion Capital Management LLC now owns 991,469 shares of the Internet television network’s stock valued at $90,700,000 after buying an additional 701,119 shares in the last quarter. 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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