SunTrust Banks Analysts Raise Earnings Estimates for Netflix, Inc. (NFLX)

Netflix, Inc. (NASDAQ:NFLX) – Analysts at SunTrust Banks lifted their FY2018 earnings estimates for shares of Netflix in a research report issued to clients and investors on Tuesday, Zacks Investment Research reports. SunTrust Banks analyst M. Thornton now anticipates that the Internet television network will post earnings of $2.77 per share for the year, up from their previous estimate of $1.97. SunTrust Banks has a “Hold” rating and a $270.00 price target on the stock. SunTrust Banks also issued estimates for Netflix’s FY2019 earnings at $4.45 EPS and FY2020 earnings at $6.54 EPS.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Monday, January 22nd. The Internet television network reported $0.41 EPS for the quarter, hitting analysts’ consensus estimates of $0.41. The company had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.28 billion. Netflix had a return on equity of 17.20% and a net margin of 4.78%. The company’s quarterly revenue was up 32.6% compared to the same quarter last year. During the same period last year, the business posted $0.15 EPS.

Several other brokerages also recently commented on NFLX. Morgan Stanley reiterated an “overweight” rating and set a $255.00 target price (up from $235.00) on shares of Netflix in a report on Thursday, January 18th. Loop Capital restated a “buy” rating and set a $237.00 price objective on shares of Netflix in a report on Wednesday, December 6th. Canaccord Genuity restated a “buy” rating and set a $280.00 price objective (up from $225.00) on shares of Netflix in a report on Tuesday, January 23rd. Wells Fargo & Co restated an “outperform” rating and set a $250.00 price objective (up from $230.00) on shares of Netflix in a report on Monday, January 8th. Finally, Vetr upgraded Netflix from a “hold” rating to a “buy” rating and set a $230.38 price objective on the stock in a report on Tuesday, January 16th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Netflix presently has an average rating of “Buy” and a consensus target price of $240.17.

Shares of Netflix (NFLX) traded down $2.90 during trading hours on Friday, hitting $278.14. The company had a trading volume of 8,887,900 shares, compared to its average volume of 10,658,118. The stock has a market cap of $122,800.00, a P/E ratio of 199.49, a P/E/G ratio of 3.86 and a beta of 1.04. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.81. Netflix has a 1-year low of $138.26 and a 1-year high of $286.81.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Balentine LLC lifted its position in shares of Netflix by 1,020.4% during the 3rd quarter. Balentine LLC now owns 549 shares of the Internet television network’s stock worth $100,000 after purchasing an additional 500 shares during the last quarter. James Hambro & Partners acquired a new position in shares of Netflix during the 4th quarter worth about $106,000. Wagner Wealth Management LLC acquired a new position in shares of Netflix during the 4th quarter worth about $125,000. Duncker Streett & Co. Inc. raised its holdings in Netflix by 47.1% in the 4th quarter. Duncker Streett & Co. Inc. now owns 625 shares of the Internet television network’s stock valued at $120,000 after acquiring an additional 200 shares in the last quarter. Finally, Crewe Advisors LLC acquired a new position in Netflix in the 4th quarter valued at approximately $149,000. 82.23% of the stock is owned by institutional investors and hedge funds.

In related news, Director A George Battle sold 10,716 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $258.49, for a total transaction of $2,769,978.84. Following the completion of the transaction, the director now owns 2,575 shares of the company’s stock, valued at approximately $665,611.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Theodore A. Sarandos sold 163,747 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $262.91, for a total value of $43,050,723.77. Following the transaction, the insider now directly owns 23,953 shares of the company’s stock, valued at approximately $6,297,483.23. The disclosure for this sale can be found here. In the last quarter, insiders have sold 458,247 shares of company stock valued at $111,056,137. 4.90% of the stock is currently owned by corporate insiders.

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About Netflix

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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Earnings History and Estimates for Netflix (NASDAQ:NFLX)

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