Netflix, Inc. Forecasted to Earn FY2017 Earnings of $1.24 Per Share (NFLX)
Netflix, Inc. (NASDAQ:NFLX) – Research analysts at KeyCorp raised their FY2017 EPS estimates for shares of Netflix in a research report issued on Monday. KeyCorp analyst A. Hargreaves now expects that the Internet television network will post earnings per share of $1.24 for the year, up from their prior forecast of $1.22. KeyCorp has a “Buy” rating and a $230.00 price target on the stock. KeyCorp also issued estimates for Netflix’s Q4 2017 earnings at $0.41 EPS, Q1 2018 earnings at $0.50 EPS, Q2 2018 earnings at $0.56 EPS, Q3 2018 earnings at $0.57 EPS and FY2018 earnings at $2.25 EPS.
Netflix (NASDAQ:NFLX) last released its earnings results on Monday, October 16th. The Internet television network reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.03). Netflix had a return on equity of 15.06% and a net margin of 4.04%. The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter in the previous year, the company posted $0.12 EPS. The business’s revenue was up 30.3% on a year-over-year basis.
Other equities analysts also recently issued research reports about the company. BMO Capital Markets reiterated a “market perform” rating and set a $180.00 price target (up previously from $150.00) on shares of Netflix in a research note on Tuesday, July 18th. Needham & Company LLC reiterated a “hold” rating on shares of Netflix in a research note on Tuesday, July 18th. Bank of America Corporation reiterated a “buy” rating and set a $199.00 price target (up previously from $184.00) on shares of Netflix in a research note on Tuesday, July 18th. Vetr upgraded Netflix from a “sell” rating to a “hold” rating and set a $165.09 price target for the company in a research note on Wednesday, August 16th. Finally, UBS AG reiterated a “buy” rating and set a $237.00 price target (up previously from $225.00) on shares of Netflix in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirty-three have assigned a buy rating to the stock. Netflix currently has a consensus rating of “Buy” and an average target price of $200.39.
Shares of Netflix (NASDAQ NFLX) opened at 199.48 on Wednesday. The company has a market cap of $86.13 billion, a price-to-earnings ratio of 242.68 and a beta of 1.09. The company’s 50-day moving average price is $183.35 and its 200 day moving average price is $165.87. Netflix has a 12-month low of $98.38 and a 12-month high of $204.38.
A number of institutional investors and hedge funds have recently modified their holdings of NFLX. Tower Research Capital LLC TRC bought a new stake in shares of Netflix during the second quarter worth $1,045,000. Calamos Advisors LLC raised its position in shares of Netflix by 198.5% during the second quarter. Calamos Advisors LLC now owns 208,945 shares of the Internet television network’s stock worth $31,218,000 after acquiring an additional 138,945 shares during the last quarter. Alps Advisors Inc. bought a new stake in shares of Netflix during the second quarter worth $262,000. Guardian Life Insurance Co. of America raised its position in shares of Netflix by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 1,655 shares of the Internet television network’s stock worth $245,000 after acquiring an additional 11 shares during the last quarter. Finally, Teachers Advisors LLC raised its position in shares of Netflix by 2.0% during the first quarter. Teachers Advisors LLC now owns 1,300,531 shares of the Internet television network’s stock worth $192,231,000 after acquiring an additional 25,266 shares during the last quarter. Hedge funds and other institutional investors own 81.02% of the company’s stock.
In other Netflix news, Director Richard N. Barton sold 2,000 shares of Netflix stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $165.72, for a total value of $331,440.00. Following the completion of the transaction, the director now owns 8,012 shares in the company, valued at approximately $1,327,748.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jonathan Friedland sold 3,622 shares of Netflix stock in a transaction on Friday, October 6th. The shares were sold at an average price of $194.89, for a total value of $705,891.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 305,288 shares of company stock worth $55,168,715. 4.90% of the stock is owned by insiders.
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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