$2.97 Billion in Sales Expected for Netflix, Inc. (NFLX) This Quarter
Wall Street analysts forecast that Netflix, Inc. (NASDAQ:NFLX) will announce sales of $2.97 billion for the current quarter, according to Zacks. Thirteen analysts have provided estimates for Netflix’s earnings, with estimates ranging from $2.97 billion to $2.98 billion. Netflix posted sales of $2.29 billion in the same quarter last year, which would indicate a positive year over year growth rate of 29.7%. The firm is scheduled to issue its next quarterly earnings results on Monday, October 16th.
On average, 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 expect that the firm will post sales of $14.10 billion per share, with estimates ranging from $13.78 billion to $14.48 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Netflix.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by $0.01. The business had revenue of $2.79 billion during 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%. Netflix’s revenue was up 32.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 EPS.
A number of research analysts have recently commented on NFLX shares. UBS AG reiterated a “buy” rating and issued a $175.00 price objective on shares of Netflix in a report on Monday, May 15th. Vetr upgraded Netflix from a “sell” rating to a “hold” rating and set a $158.60 price objective on the stock in a report on Monday, May 15th. Jefferies Group LLC reiterated a “hold” rating and issued a $141.00 price objective on shares of Netflix in a report on Monday, May 22nd. Loop Capital reiterated a “buy” rating and issued a $180.00 price objective (up previously from $172.00) on shares of Netflix in a report on Tuesday, May 23rd. Finally, Piper Jaffray Companies increased their price objective on Netflix from $166.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, May 25th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-seven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $178.23.
In related news, Director Richard N. Barton sold 1,000 shares of the business’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $156.62, for a total value of $156,620.00. Following the completion of the sale, the director now directly owns 8,012 shares of the company’s stock, valued at $1,254,839.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Reed Hastings sold 115,577 shares of the business’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $152.63, for a total value of $17,640,517.51. Following the completion of the sale, the chief executive officer now directly owns 115,577 shares of the company’s stock, valued at $17,640,517.51. The disclosure for this sale can be found here. Over the last three months, insiders sold 349,435 shares of company stock valued at $59,221,491. 4.90% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Almanack Investment Partners LLC. bought a new stake in Netflix in the second quarter valued at about $101,000. Clean Yield Group bought a new stake in Netflix in the first quarter valued at about $103,000. TD Capital Management LLC bought a new stake in Netflix in the second quarter valued at about $105,000. Appropriate Balance Financial Services Inc. increased its holdings in Netflix by 5.6% in the second quarter. Appropriate Balance Financial Services Inc. now owns 702 shares of the Internet television network’s stock valued at $4,701,000 after buying an additional 37 shares during the last quarter. Finally, SRS Capital Advisors Inc. increased its holdings in Netflix by 3,361.9% in the first quarter. SRS Capital Advisors Inc. now owns 727 shares of the Internet television network’s stock valued at $107,000 after buying an additional 706 shares during the last quarter. 81.05% of the stock is owned by hedge funds and other institutional investors.
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Shares of Netflix (NASDAQ:NFLX) opened at 181.74 on Tuesday. The firm has a 50-day moving average price of $175.33 and a 200 day moving average price of $158.05. Netflix has a one year low of $93.26 and a one year high of $191.50. The firm has a market cap of $78.47 billion, a P/E ratio of 221.09 and a beta of 1.05.
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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