Analysts expect Netflix, Inc. (NASDAQ:NFLX) to report $2.97 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Thirteen analysts have issued estimates for Netflix’s earnings, with the lowest sales estimate coming in at $2.97 billion and the highest estimate coming in at $2.98 billion. Netflix reported sales of $2.29 billion during the same quarter last year, which indicates a positive year over year growth rate of 29.7%. The firm is scheduled to announce its next earnings report on Monday, October 16th.

According to Zacks, analysts expect that Netflix will report full-year sales of $2.97 billion for the current fiscal year, with estimates ranging from $11.46 billion to $11.55 billion. For the next financial year, analysts anticipate that the firm will report sales of $14.10 billion per share, with estimates ranging from $13.78 billion to $14.48 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Netflix.

Netflix (NASDAQ:NFLX) last released its earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by $0.01. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.76 billion. Netflix had a return on equity of 12.82% and a net margin of 3.55%. The business’s revenue for the quarter was up 32.3% compared to the same quarter last year. During the same period last year, the company posted $0.09 earnings per share.

Several brokerages have recently issued reports on NFLX. KeyCorp reaffirmed a “buy” rating and issued a $190.00 target price on shares of Netflix in a report on Friday. Vetr raised Netflix from a “sell” rating to a “hold” rating and set a $165.09 target price on the stock in a report on Wednesday, August 16th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $200.00 target price on shares of Netflix in a report on Wednesday, August 16th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $215.00 target price on shares of Netflix in a report on Monday, August 14th. Finally, BidaskClub cut Netflix from a “buy” rating to a “hold” rating in a report on Saturday, August 12th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. Netflix presently has a consensus rating of “Buy” and an average price target of $178.07.

Netflix (NFLX) traded up 0.71% during mid-day trading on Friday, reaching $167.12. The company had a trading volume of 3,646,418 shares. The stock has a market capitalization of $72.15 billion, a P/E ratio of 203.31 and a beta of 1.02. The stock has a 50 day moving average price of $173.01 and a 200-day moving average price of $155.72. Netflix has a 12-month low of $93.26 and a 12-month high of $191.50.

In related news, CEO Reed Hastings sold 93,380 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $166.07, for a total transaction of $15,507,616.60. Following the completion of the transaction, the chief executive officer now owns 93,380 shares in the company, valued at approximately $15,507,616.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Gregory K. Peters sold 6,853 shares of the company’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $164.29, for a total transaction of $1,125,879.37. Following the transaction, the insider now owns 19,943 shares of the company’s stock, valued at approximately $3,276,435.47. The disclosure for this sale can be found here. Over the last three months, insiders have sold 378,288 shares of company stock worth $63,908,370. Corporate insiders own 4.90% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in Netflix by 12.4% in the second quarter. FMR LLC now owns 23,633,237 shares of the Internet television network’s stock valued at $3,531,042,000 after buying an additional 2,605,731 shares during the period. Jennison Associates LLC increased its position in Netflix by 21.4% in the first quarter. Jennison Associates LLC now owns 12,947,211 shares of the Internet television network’s stock valued at $1,913,727,000 after buying an additional 2,279,835 shares during the period. Janus Henderson Group PLC increased its position in Netflix by 3,478.1% in the second quarter. Janus Henderson Group PLC now owns 2,041,458 shares of the Internet television network’s stock valued at $305,014,000 after buying an additional 1,984,404 shares during the period. Vanguard Group Inc. increased its position in Netflix by 3.5% in the first quarter. Vanguard Group Inc. now owns 27,161,082 shares of the Internet television network’s stock valued at $4,014,680,000 after buying an additional 921,283 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in Netflix by 22,622.2% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 814,592 shares of the Internet television network’s stock valued at $121,708,000 after buying an additional 811,007 shares during the period. Hedge funds and other institutional investors own 81.04% of the company’s stock.

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About Netflix

Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.

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Earnings History and Estimates for Netflix (NASDAQ:NFLX)

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