Q4 2016 Earnings Estimate for Netflix Inc. Issued By Jefferies Group (NFLX)
Netflix Inc. (NASDAQ:NFLX) – Investment analysts at Jefferies Group upped their Q4 2016 earnings per share estimates for shares of Netflix in a research report issued to clients and investors on Monday. Jefferies Group analyst J. Janedis now forecasts that the brokerage will post earnings of $0.12 per share for the quarter, up from their prior forecast of $0.10. Jefferies Group currently has a “Underperform” rating and a $80.00 target price on the stock. Jefferies Group also issued estimates for Netflix’s Q2 2017 earnings at $0.29 EPS, Q4 2017 earnings at $0.26 EPS and Q2 2018 earnings at $0.54 EPS.
Netflix (NASDAQ:NFLX) last announced 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. 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 6.45% and a net margin of 1.99%. Netflix’s quarterly revenue was up 31.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.07 EPS.
NFLX has been the topic of several other research reports. Needham & Company LLC downgraded Netflix from a “buy” rating to a “hold” rating and raised their price objective for the company from $95.15 to $96.67 in a report on Tuesday, July 5th. Pivotal Research reissued a “buy” rating and set a $155.00 price objective (up previously from $125.00) on shares of Netflix in a report on Tuesday. Bank of America Corp. reissued a “buy” rating and set a $146.00 price objective on shares of Netflix in a report on Friday, August 26th. Wedbush raised their price objective on Netflix from $45.00 to $50.00 and gave the company an “underperform” rating in a report on Tuesday, July 19th. Finally, Vetr downgraded Netflix from a “strong-buy” rating to a “buy” rating and set a $102.41 price objective on the stock. in a report on Wednesday, July 27th. Eight investment analysts have rated the stock with a sell rating, fourteen have assigned 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.
Shares of Netflix (NASDAQ:NFLX) traded up 2.74% during mid-day trading on Wednesday, reaching $122.05. The company had a trading volume of 14,741,747 shares. Netflix has a 12-month low of $79.95 and a 12-month high of $133.27. The stock has a market capitalization of $52.33 billion, a P/E ratio of 381.41 and a beta of 1.14. The firm’s 50 day moving average is $99.60 and its 200-day moving average is $96.38.
In related news, CEO Reed Hastings sold 116,431 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $10,081,760.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay C. Hoag bought 600,000 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The stock was bought at an average price of $86.43 per share, for a total transaction of $51,858,000.00. The disclosure for this purchase can be found here. 4.90% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. boosted its position in shares of 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 valued at $66,036,000 after buying an additional 265,678 shares in the last quarter. Scopia Capital Management LP boosted its position in shares of 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 valued at $188,757,000 after buying an additional 656,585 shares in the last quarter. Natixis acquired a new position in shares of Netflix during the first quarter valued at $47,023,000. Private Capital Management Inc. acquired a new position in shares of Netflix during the second quarter valued at $631,000. Finally, Advisory Services Network LLC boosted its position in shares of Netflix by 15.0% in the second quarter. Advisory Services Network LLC now owns 5,415 shares of the Internet television network’s stock valued at $495,000 after buying an additional 706 shares in the last quarter. 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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