Netflix, Inc. (NASDAQ:NFLX) – Wedbush boosted their FY2017 earnings estimates for shares of Netflix in a research report issued to clients and investors on Tuesday. Wedbush analyst M. Pachter now forecasts that the Internet television network will post earnings per share of $1.26 for the year, up from their previous forecast of $1.21. Wedbush currently has a “Sell” rating and a $93.00 target price on the stock. Wedbush also issued estimates for Netflix’s Q4 2017 earnings at $0.42 EPS, Q1 2018 earnings at $0.51 EPS, Q3 2018 earnings at $0.48 EPS and Q4 2018 earnings at $0.54 EPS.
Netflix (NASDAQ:NFLX) last released its earnings results on Monday, October 16th. The Internet television network reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.03). The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Netflix had a net margin of 4.04% and a return on equity of 15.06%. The business’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.12 earnings per share.
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Other analysts have also issued research reports about the company. BMO Capital Markets reaffirmed a “market perform” rating and issued a $180.00 target price (up previously from $150.00) on shares of Netflix in a report on Tuesday, July 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Netflix in a report on Tuesday, July 18th. Bank of America Corporation reaffirmed a “buy” rating and issued a $199.00 target price (up previously from $184.00) on shares of Netflix in a report on Tuesday, July 18th. Vetr raised Netflix from a “sell” rating to a “hold” rating and set a $165.09 target price on the stock in a report on Wednesday, August 16th. Finally, UBS AG reaffirmed a “buy” rating and issued a $237.00 target price (up previously from $225.00) on shares of Netflix in a report on Tuesday. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirty-three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $200.39.
Netflix (NFLX) opened at 199.48 on Wednesday. The stock has a market capitalization of $86.13 billion, a PE ratio of 242.68 and a beta of 1.09. The stock’s 50 day moving average price is $183.35 and its 200 day moving average price is $165.87. Netflix has a 1-year low of $98.38 and a 1-year high of $204.38.
In related news, Director Richard N. Barton sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $187.75, for a total value of $375,500.00. Following the sale, the director now owns 7,198 shares in the company, valued at $1,351,424.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leslie J. Kilgore sold 868 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $202.00, for a total transaction of $175,336.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 305,288 shares of company stock worth $55,168,715. Corporate insiders own 4.90% of the company’s stock.
A number of hedge funds have recently modified their holdings of NFLX. OppenheimerFunds Inc. boosted its holdings in Netflix by 1.6% in the first quarter. OppenheimerFunds Inc. now owns 7,528 shares of the Internet television network’s stock worth $1,113,000 after purchasing an additional 117 shares during the last quarter. Teachers Advisors LLC boosted its holdings in Netflix by 2.0% in the first quarter. Teachers Advisors LLC now owns 1,300,531 shares of the Internet television network’s stock worth $192,231,000 after purchasing an additional 25,266 shares during the last quarter. W.G. Shaheen & Associates DBA Whitney & Co purchased a new stake in Netflix in the first quarter worth approximately $208,000. Turner Investments LLC purchased a new stake in Netflix in the first quarter worth approximately $417,000. Finally, Stephens Inc. AR boosted its holdings in Netflix by 12.4% in the first quarter. Stephens Inc. AR now owns 7,427 shares of the Internet television network’s stock worth $1,098,000 after purchasing an additional 821 shares during the last quarter. Institutional investors own 81.02% of the company’s stock.
Netflix Company Profile
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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