Brokerages Anticipate Netflix, Inc. (NFLX) Will Post Quarterly Sales of $3.28 Billion
Wall Street analysts expect Netflix, Inc. (NASDAQ:NFLX) to announce $3.28 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Twelve analysts have issued estimates for Netflix’s earnings, with estimates ranging from $3.24 billion to $3.31 billion. Netflix reported sales of $2.48 billion during the same quarter last year, which would suggest a positive year over year growth rate of 32.3%. The firm is expected to issue its next quarterly earnings report on Wednesday, January 17th.
On average, analysts expect that Netflix will report full year sales of $3.28 billion for the current fiscal year, with estimates ranging from $11.65 billion to $11.72 billion. For the next fiscal year, analysts forecast that the firm will post sales of $14.91 billion per share, with estimates ranging from $13.88 billion to $15.56 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Netflix.
Netflix (NASDAQ:NFLX) last posted its earnings results on Monday, October 16th. The Internet television network reported $0.29 earnings per share 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 the consensus estimate of $2.97 billion. Netflix had a return on equity of 14.56% and a net margin of 4.04%. The business’s revenue was up 30.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.12 earnings per share.
Several research firms have weighed in on NFLX. Stifel Nicolaus lifted their target price on Netflix from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, October 12th. J P Morgan Chase & Co reiterated an “overweight” rating and set a $225.00 target price (up from $210.00) on shares of Netflix in a report on Friday, October 13th. Vetr upgraded Netflix from a “hold” rating to a “buy” rating and set a $210.19 target price on the stock in a report on Thursday, October 19th. Piper Jaffray Companies reiterated an “overweight” rating and set a $215.00 target price (up from $198.00) on shares of Netflix in a report on Tuesday, August 8th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $165.00 target price (down from $171.80) on shares of Netflix in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and thirty-two have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $207.20.
Netflix (NFLX) opened at $195.75 on Monday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.20 and a current ratio of 1.20. The firm has a market capitalization of $84,707.09, a PE ratio of 197.73, a price-to-earnings-growth ratio of 5.82 and a beta of 1.39. Netflix has a twelve month low of $113.95 and a twelve month high of $204.38.
In related news, Director Richard N. Barton sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $165.72, for a total transaction of $331,440.00. Following the sale, the director now owns 8,012 shares in the company, valued at $1,327,748.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Reed Hastings sold 75,243 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $196.25, for a total value of $14,766,438.75. Following the sale, the chief executive officer now owns 75,243 shares in the company, valued at approximately $14,766,438.75. The disclosure for this sale can be found here. Insiders have sold 326,935 shares of company stock worth $63,034,672 in the last quarter. 4.90% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC acquired a new position in Netflix during the second quarter worth approximately $1,045,000. Lincoln National Corp increased its position in Netflix by 7.0% during the third quarter. Lincoln National Corp now owns 4,094 shares of the Internet television network’s stock worth $742,000 after buying an additional 268 shares during the last quarter. Calamos Advisors LLC increased its position in Netflix by 198.5% during the second quarter. Calamos Advisors LLC now owns 208,945 shares of the Internet television network’s stock worth $31,218,000 after buying an additional 138,945 shares during the last quarter. Alps Advisors Inc. acquired a new position in Netflix during the second quarter worth approximately $262,000. Finally, BB&T Corp increased its position in Netflix by 20.0% during the third quarter. BB&T Corp now owns 3,857 shares of the Internet television network’s stock worth $700,000 after buying an additional 642 shares during the last quarter. 80.32% of the stock is currently owned by hedge funds and other institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Netflix Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.