Q3 2019 Earnings Forecast for Netflix, Inc. (NASDAQ:NFLX) Issued By Wedbush
Netflix, Inc. (NASDAQ:NFLX) – Research analysts at Wedbush lifted their Q3 2019 EPS estimates for shares of Netflix in a note issued to investors on Thursday, July 18th. Wedbush analyst M. Pachter now anticipates that the Internet television network will earn $1.05 per share for the quarter, up from their previous forecast of $0.87. Wedbush has a “Underperform” rating and a $188.00 price objective on the stock. Wedbush also issued estimates for Netflix’s Q4 2019 earnings at $1.05 EPS, Q1 2020 earnings at $1.10 EPS, Q2 2020 earnings at $1.15 EPS and Q3 2020 earnings at $1.20 EPS.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Wednesday, July 17th. The Internet television network reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. The firm had revenue of $4.92 billion for the quarter, compared to analyst estimates of $4.93 billion. Netflix had a net margin of 6.53% and a return on equity of 20.88%. Netflix’s revenue was up 26.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 EPS.
Shares of NFLX opened at $315.10 on Friday. The stock has a market cap of $142.19 billion, a price-to-earnings ratio of 117.57, a P/E/G ratio of 3.29 and a beta of 1.26. Netflix has a 12-month low of $231.23 and a 12-month high of $386.80. The firm has a 50-day moving average of $361.42. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.61 and a current ratio of 0.85.
In other news, Director Ann Mather sold 1,208 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $375.00, for a total value of $453,000.00. Following the completion of the sale, the director now directly owns 357 shares of the company’s stock, valued at $133,875. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Reed Hastings sold 56,966 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $370.74, for a total value of $21,119,574.84. Following the completion of the sale, the chief executive officer now directly owns 56,966 shares of the company’s stock, valued at $21,119,574.84. The disclosure for this sale can be found here. Insiders sold 167,486 shares of company stock valued at $60,955,416 over the last ninety days. 4.29% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. Clarfeld Financial Advisors LLC purchased a new stake in shares of Netflix during the fourth quarter worth approximately $27,000. TCG Advisors LP purchased a new position in Netflix in the first quarter valued at about $36,000. Joseph P. Lucia & Associates LLC bought a new stake in shares of Netflix during the 1st quarter worth about $44,000. SevenBridge Financial Group LLC boosted its stake in Netflix by 66.7% during the 2nd quarter. SevenBridge Financial Group LLC now owns 125 shares of the Internet television network’s stock valued at $46,000 after purchasing an additional 50 shares during the period. Finally, Thompson Siegel & Walmsley LLC boosted its stake in Netflix by 182.0% during the 1st quarter. Thompson Siegel & Walmsley LLC now owns 141 shares of the Internet television network’s stock valued at $50,000 after purchasing an additional 91 shares during the period. 77.02% of the stock is owned by institutional investors and hedge funds.
Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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