Netflix, Inc. (NASDAQ:NFLX) – Investment analysts at Piper Jaffray Companies decreased their FY2019 earnings estimates for shares of Netflix in a research note issued to investors on Thursday, October 17th. Piper Jaffray Companies analyst M. Olson now anticipates that the Internet television network will post earnings per share of $3.34 for the year, down from their previous forecast of $3.55. Piper Jaffray Companies currently has a “Overweight” rating and a $400.00 target price on the stock. Piper Jaffray Companies also issued estimates for Netflix’s Q4 2019 earnings at $0.51 EPS, Q1 2020 earnings at $1.16 EPS, Q2 2020 earnings at $1.43 EPS, Q3 2020 earnings at $1.77 EPS, Q4 2020 earnings at $1.80 EPS, FY2020 earnings at $6.15 EPS and FY2021 earnings at $8.85 EPS.
Several other research analysts also recently issued reports on NFLX. UBS Group set a $370.00 target price on shares of Netflix and gave the stock a “buy” rating in a research note on Thursday, October 10th. Credit Suisse Group reiterated a “buy” rating and issued a $440.00 target price on shares of Netflix in a research note on Thursday, October 17th. Cowen dropped their target price on shares of Netflix from $435.00 to $415.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Loop Capital dropped their target price on shares of Netflix to $415.00 in a research note on Thursday, October 17th. Finally, KeyCorp reiterated a “hold” rating on shares of Netflix in a research note on Tuesday, September 24th. Six analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $363.11.
Shares of NASDAQ NFLX opened at $266.69 on Monday. The firm’s 50 day moving average price is $278.94 and its 200-day moving average price is $329.48. The company has a market cap of $116.77 billion, a PE ratio of 99.51, a P/E/G ratio of 2.77 and a beta of 1.20. Netflix has a 52-week low of $231.23 and a 52-week high of $385.99. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.85 and a current ratio of 0.73.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Wednesday, October 16th. The Internet television network reported $1.47 EPS for the quarter, topping the consensus estimate of $1.05 by $0.42. Netflix had a net margin of 7.49% and a return on equity of 23.65%. The business had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.25 billion. During the same quarter in the previous year, the firm posted $0.89 earnings per share. Netflix’s quarterly revenue was up 31.2% on a year-over-year basis.
In other Netflix news, Director Bradford L. Smith bought 6,499 shares of Netflix stock in a transaction on Thursday, August 8th. The stock was acquired at an average cost of $308.49 per share, with a total value of $2,004,876.51. Following the completion of the acquisition, the director now owns 799 shares in the company, valued at $246,483.51. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Reed Hastings sold 40,061 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $275.64, for a total transaction of $11,042,414.04. Following the sale, the chief executive officer now directly owns 40,061 shares of the company’s stock, valued at $11,042,414.04. The disclosure for this sale can be found here. Insiders have sold 135,702 shares of company stock valued at $38,290,015 over the last three months. 3.72% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. Intercontinental Wealth Advisors LLC increased its holdings in Netflix by 100.0% during the third quarter. Intercontinental Wealth Advisors LLC now owns 96 shares of the Internet television network’s stock valued at $26,000 after buying an additional 48 shares during the last quarter. Nelson Roberts Investment Advisors LLC increased its holdings in Netflix by 600.0% during the second quarter. Nelson Roberts Investment Advisors LLC now owns 84 shares of the Internet television network’s stock valued at $31,000 after buying an additional 72 shares during the last quarter. CX Institutional purchased a new stake in Netflix during the third quarter valued at approximately $35,000. SRS Capital Advisors Inc. purchased a new stake in Netflix during the second quarter valued at approximately $39,000. Finally, Wealthcare Capital Management LLC purchased a new stake in Netflix during the third quarter valued at approximately $40,000. 78.93% 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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