Netflix (NASDAQ:NFLX) Issues Q2 Earnings Guidance

Netflix (NASDAQ:NFLX) issued an update on its second quarter earnings guidance on Thursday morning. 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.

Netflix Stock Down 0.5 %

NASDAQ NFLX traded down $3.13 on Thursday, hitting $610.56. The stock had a trading volume of 7,270,484 shares, compared to its average volume of 4,278,392. The business’s fifty day moving average price is $604.73 and its 200 day moving average price is $511.17. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.12. Netflix has a 52-week low of $315.62 and a 52-week high of $639.00. The stock has a market cap of $264.23 billion, a price-to-earnings ratio of 51.53, a price-to-earnings-growth ratio of 1.67 and a beta of 1.22.

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 the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 16.04% and a return on equity of 24.76%. The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same period in the previous year, the company earned $2.88 earnings per share. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. Equities research analysts anticipate that Netflix will post 17.05 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on NFLX shares. Barclays lifted their price objective on shares of Netflix from $475.00 to $550.00 and gave the stock an equal weight rating in a research note on Tuesday, April 9th. Loop Capital lifted their price objective on shares of Netflix from $585.00 to $700.00 and gave the stock a buy rating in a research note on Monday, March 18th. Macquarie lifted their price objective on shares of Netflix from $595.00 to $685.00 and gave the stock an outperform rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Netflix from $525.00 to $550.00 and gave the stock a hold rating in a research note on Monday. Finally, Guggenheim boosted their target price on shares of Netflix from $600.00 to $700.00 and gave the company a buy rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Netflix currently has an average rating of Moderate Buy and an average price target of $614.75.

Insider Transactions at Netflix

In other news, Chairman Reed Hastings sold 20,566 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were 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 of the company’s stock, valued at $17,091.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Reed Hastings sold 20,566 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were 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 of the company’s stock, valued at approximately $17,091.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $3,345,000.00. Following the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $8,181,250. The disclosure for this sale can be found here. Insiders sold 268,335 shares of company stock valued at $151,619,811 over the last 90 days. Corporate insiders own 2.45% of the company’s stock.

Institutional Trading of Netflix

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Netflix by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 36,438,570 shares of the Internet television network’s stock valued at $17,741,211,000 after acquiring an additional 178,286 shares in the last quarter. State Street Corp grew its stake in Netflix by 0.4% during the 1st quarter. State Street Corp now owns 16,195,490 shares of the Internet television network’s stock valued at $5,595,196,000 after acquiring an additional 62,507 shares in the last quarter. Morgan Stanley boosted its holdings in Netflix by 11.1% in the 4th quarter. Morgan Stanley now owns 6,463,661 shares of the Internet television network’s stock valued at $1,906,005,000 after purchasing an additional 644,162 shares during the last quarter. Norges Bank acquired a new position in Netflix in the 4th quarter valued at about $1,501,762,000. Finally, Legal & General Group Plc boosted its holdings in Netflix by 34.2% in the 4th quarter. Legal & General Group Plc now owns 3,382,145 shares of the Internet television network’s stock valued at $1,646,699,000 after purchasing an additional 862,463 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

About Netflix

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.