Netflix (NASDAQ:NFLX) posted its quarterly earnings results on Monday. The Internet television network reported $1.19 EPS for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.19), MarketWatch Earnings reports. The business had revenue of $6.64 billion for the quarter, compared to the consensus estimate of $6.62 billion. Netflix had a net margin of 11.78% and a return on equity of 31.48%. Netflix’s revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.30 earnings per share.
Shares of Netflix stock traded up $84.57 on Wednesday, hitting $586.34. 30,375,070 shares of the company traded hands, compared to its average volume of 7,447,021. The stock’s 50 day moving average price is $513.56 and its 200-day moving average price is $502.65. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.50. Netflix has a 52 week low of $290.25 and a 52 week high of $593.29. The company has a market cap of $259.04 billion, a PE ratio of 94.45, a PEG ratio of 1.86 and a beta of 0.92.
A number of research analysts have recently weighed in on the company. Wells Fargo & Company upgraded Netflix from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $510.00 to $700.00 in a research report on Wednesday. Monness Crespi & Hardt raised their price objective on Netflix from $600.00 to $650.00 and gave the company a “buy” rating in a research report on Wednesday. CSFB restated a “hold” rating and set a $525.00 price objective on shares of Netflix in a research report on Monday, October 5th. KeyCorp raised their price objective on Netflix from $634.00 to $650.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Guggenheim raised their price objective on Netflix from $530.00 to $570.00 and gave the company a “buy” rating in a research report on Monday, September 28th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-six have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $572.97.
In related news, Director Jay C. Hoag sold 21,119 shares of the business’s stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $467.89, for a total value of $9,881,368.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rodolphe Belmer sold 2,136 shares of the business’s stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $488.52, for a total transaction of $1,043,478.72. Following the completion of the transaction, the director now directly owns 215 shares of the company’s stock, valued at approximately $105,031.80. The disclosure for this sale can be found here. Insiders have sold 460,566 shares of company stock valued at $241,501,445 in the last ninety days. Insiders own 3.40% of the company’s stock.
Netflix Company Profile
Netflix, Inc provides subscription streaming entertainment service. 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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