Netflix (NASDAQ:NFLX) Issues Q2 Earnings Guidance

Netflix (NASDAQ:NFLX) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $4.68 for the period, compared to the consensus EPS estimate of $4.54. The company issued revenue guidance of $9.491 billion, compared to the consensus revenue estimate of $9.53 billion.

Analyst Ratings Changes

A number of research firms recently commented on NFLX. JPMorgan Chase & Co. lifted their price target on shares of Netflix from $610.00 to $650.00 and gave the stock an overweight rating in a report on Monday, April 8th. StockNews.com raised shares of Netflix from a hold rating to a buy rating in a report on Monday, February 26th. BMO Capital Markets reissued an outperform rating and set a $713.00 target price (up previously from $638.00) on shares of Netflix in a report on Wednesday. TD Cowen boosted their target price on shares of Netflix from $600.00 to $725.00 and gave the company a buy rating in a report on Monday, April 8th. Finally, Oppenheimer boosted their target price on shares of Netflix from $615.00 to $725.00 and gave the company an outperform rating in a report on Monday, March 11th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $614.75.

Netflix Trading Down 0.5 %

Shares of NASDAQ:NFLX traded down $3.13 during midday trading on Thursday, hitting $610.56. 7,270,484 shares of the stock traded hands, compared to its average volume of 4,278,392. The stock has a market capitalization of $264.23 billion, a PE ratio of 51.53, a P/E/G ratio of 1.67 and a beta of 1.22. The business’s 50 day moving average is $604.73 and its two-hundred day moving average is $511.17. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. Netflix has a one year low of $315.62 and a one year high of $639.00.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 16.04% and a return on equity of 24.76%. The company had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. During the same period in the prior year, the firm earned $2.88 earnings per share. Netflix’s revenue was up 14.8% on a year-over-year basis. As a group, research analysts forecast that Netflix will post 17.05 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the transaction, the chairman now directly owns 28 shares of the company’s stock, valued at $17,091.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Netflix news, CEO Gregory K. Peters sold 5,352 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $625.00, for a total value of $3,345,000.00. Following the sale, the chief executive officer now owns 13,090 shares in the company, valued at $8,181,250. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Reed Hastings sold 20,566 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the sale, the chairman now owns 28 shares in the company, valued at approximately $17,091.76. The disclosure for this sale can be found here. Insiders sold a total of 268,335 shares of company stock valued at $151,619,811 over the last three months. Corporate insiders own 2.45% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SageView Advisory Group LLC grew its holdings in Netflix by 245.0% in the fourth quarter. SageView Advisory Group LLC now owns 3,136 shares of the Internet television network’s stock worth $1,527,000 after purchasing an additional 2,227 shares during the period. Sanibel Captiva Trust Company Inc. purchased a new stake in Netflix in the fourth quarter worth about $861,000. Harbour Investments Inc. grew its holdings in shares of Netflix by 2.2% during the fourth quarter. Harbour Investments Inc. now owns 5,145 shares of the Internet television network’s stock valued at $2,505,000 after buying an additional 110 shares during the last quarter. Aspect Partners LLC purchased a new stake in shares of Netflix during the fourth quarter valued at approximately $32,000. Finally, O Dell Group LLC purchased a new position in Netflix in the 4th quarter worth approximately $145,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.